Brazil Cards and Payments Market Size, Development, Growth and Forecast to 2020

The research report provides in depth analysis and insights into the Brazil Cards and Payments Market including, strategies deployed by banks to market debit and credit cards and competitive landscape (card issuers in the country) for both debit cards and credit cards. The study includes 3 years historical market size and 6 years market forecast in terms of number of cards, value and volume of transactions processed through these cards, and other key metrics. The report also provides information on the key industry trends, major schemes, banks and detailed segmentation of card and payment industry. The research report is a new offering from the company’s Financial Services domain, and leveraged from the company’s existing cards and payments database of 50+ countries.

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In terms of number of cards in circulation, the Brazilian payment cards market grew at a CAGR of 6.5% during the period 2012-2014 and it is expected to further grow over the forecast period, but at a slower pace. The growth of the Brazilian card payments market will be driven by growing disposable income, growth of retail sector, an increasing market for mobile commerce and greater acceptance of payment cards in the country. Brazil population grew from 199.2 million in 2012 to 202.7 million in 2014, and is expected to reach 210.8 million by 2020. This increase in population is expected to encourage card spending over the forecast period.

The debit cards dominated the Brazilian card payments market in terms of number of cards in circulation. Average debit card transaction value increased from BRL 159.8 in 2012 to BRL 170.2 in 2014, at a CAGR of 3.2%. The average transaction value is anticipated to grow at a CAGR of 0.9% during the period 2015-2020. Some of the key players in the debit cards market include Banco do Brasil, Caixa Econômica Federal, Banco Bradesco, Banco Santander, and Itau Unibanco. Caixa Econômica Federal was the leading bank in terms of number of debit cards issued in 2014.

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In December 2015, Morpho announced the production of smart card modules for “Elo”, a 100% Brazilian payment association set up by Bradesco, Banco do Brasil and CAIXA. Morpho created a smart card operating system for the Brazilian company, allowing every smart card to be used for banking applications as well as for shopping with credit and debit functions, accepted at more than 1.7 million point of sales terminals and establishments.