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(MoneyNewsWire.Net, November 18, 2017 ) A fresh report has been added to the wide database of Market Research Hub (MRH) titled “Consumer Payments Market in the Brazil 2017: What Consumers Want” which examines the consumer payments market in Brazil, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.
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Despite Brazil’s economic progress, cash remains the primary payment instrument as much of the population - especially in rural areas - still do not have access to basic financial services. However, payment cards are emerging as a substitute for cash, as the government and banks begin to provide basic financial access to the unbanked. This includes the government’s policy for financial inclusion, the expansion of banking infrastructure in rural regions, and the appointment of banking correspondents. According to World Bank statistics, Brazil has made substantial progress in terms of financial inclusion, with the percentage of the population aged 15 or above with a bank account increasing from 64.3% in 2013 to 75.5% in 2017. While the necessary payment infrastructure is in place - with ubiquitous ATMs, and the highest proportion of POS terminals among its regional peers (24.8 POS terminals per 1,000 individuals in 2017) - consumers are gradually becoming more aware of payment card usage and benefits. Furthermore, growth in e-commerce and online transactions, and a shifting preference for contactless payments and mobile wallets, will drive growth in the payment card market at a CAGR of 3.68% in terms of transaction value over the forecast period (2017-21).
It provides in-depth analysis of the following -
- Analyzes consumer attitudes to financial services by life stage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Brazil are deploying these tools to meet customer needs.
- Explores the online payment market in Brazil by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
Scope
- According to World Bank statistics, Brazil has made substantial progress in terms of financial inclusion, with the banked population increasing from 64.3% in 2013 to 75.5% in 2017.
- The Brazilian government provides numerous social benefit programs, payments of which are made through cards. A popular benefit scheme is the Bolsa Familia program. Transfers are made to beneficiary families through prepaid cards issued by CEF.
- Visa has partnered with mobile payments firm payleven to launch the payleven Visa prepaid card in Brazil. The prepaid card enables merchants, specifically sole traders, to receive the money for transactions processed by the payleven chip-and-PIN card reader directly to their cards.
Reasons to buy
- Understand the key facts and figures in the consumer payments market in Brazil.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Brazilian market and use this knowledge to inform product design.
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Table of Content:
Market Overview
Megatrends
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix
….continue
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