The Cards and Payments Industry in Mexico: Emerging trends and opportunities to 2020
Region: Mexico Sku Number: VR1216MR
The Cards and Payments Industry in Mexico: Emerging trends and opportunities to 2020 Summary GlobalData’s "The Cards and Payments Industry in Mexico: Emerging trends and opportunities to 2020" report provides detailed analysis of market trends in the Mexican cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cheques, direct debits, payment cards and cash during the review period (2012-2016). The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review period and over the forecast period (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes. The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure. The report provides top-level market analysis, information and insights into the Mexican cards and payments industry, including - - Current and forecast values for each market in the Mexican cards and payments industry, including debit, credit and charge cards. - Detailed insights into payment instruments including credit transfers, cheques, cash, direct debits, and payment cards. It also, includes an overview of the country's key alternative payment instruments. - E-commerce market analysis and payment methods. - Analysis of various market drivers and regulations governing the Mexican cards and payments industry. - Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards. Scope - To combat fraudulent payment activities in Mexico, banks and scheme providers are taking a number of measures, with one example being Mastercard’s introduction of the Identity Check Mobile solution in November 2016. The solution allows card holders to verify online payment by scanning their fingerprint or taking a selfie. Unlike existing identity verification methods - which take shoppers away from a merchant’s website or mobile app and often require them to remember and enter a password - Mastercard Identity Check Mobile verifies the user via technologies such as biometrics and one-time passwords. Earlier in January 2015, Oberthur Technologies (OT) partnered with PROSA, a provider of payment processing services, to launch OT Motion Code technology. With Motion Code, the card’s CVV code is replaced with a mini-screen on which the CVV code changes automatically at regular intervals, making it impossible for fraudsters to misuse. - The uptake of alternative payments is gradually increasing in Mexico, with banks and payment solutions providers launching products and services in the market. In partnership with Mastercard, Banamex launched its digital wallet, Banamex Wallet, in February 2016. The Android-compatible mobile app can be used to make contactless m-payments, which are authorized by a four-digit PIN. Users can add all Mastercard-branded credit cards to the wallet. Earlier in June 2014, BBVA Bancomer launched its mobile wallet BBVA Wallet in Mexico. The wallet allows secure NFC payments at merchant locations that accept contactless payments. Available on phones with Android 4.4 and above, other phones can use it through NFC stickers. - To further enhance financial inclusion, Mexico joined the UN-based Better Than Cash Alliance in June 2016. The move comes after the government introduced a national policy on financial inclusion to promote the use of electronic payments across the country and reduce the dependence on cash. With 86% of the 124.6 million population owning mobile phones, Better Than Cash Alliance aims to harness the popularity of mobile phones for digital payments. Earlier in February 2016, PROSA partnered with digital solutions provider Gemalto to offer m-payment services to its partner banks, which include 95% of credit, debit, and prepaid card issuers in the country. Gemalto’s Trusted Service Hub enables banks to offer their own mobile wallets using host card emulation technology, while PROSA is responsible for mobile wallet development, card holder identification and verification, card digitization, and security. Reasons to buy - Make strategic business decisions, using top-level historic and forecast market data, related to the Mexican cards and payments industry and each market within it. - Understand the key market trends and growth opportunities in the Mexican cards and payments industry. - Assess the competitive dynamics in the Mexican cards and payments industry. - Gain insights into marketing strategies used for various card types in Mexico. - Gain insights into key regulations governing the Mexican cards and payments industry.
Table of Contents 1. EXECUTIVE SUMMARY 2 1.1. Market overview 2 1.2. Key facts 4 1.3. Top five industry events 5 2. PAYMENT INSTRUMENTS 11 2.1. Current payment environment 11 3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13 3.1. E-commerce market analysis 13 3.2. Alternative payment solutions 15 3.2.1. PayPal 15 3.2.2. Banamex Wallet 15 3.2.3. BBVA Wallet 15 3.2.4. Pagamobil 16 3.2.5. MercadoPago 16 3.2.6. Paysafecard 16 3.2.7. Visa Checkout 16 4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 17 4.1. Regulatory framework 17 4.1.1. Law on the Transparency and Order of Financial Services 17 4.1.2. Interchange fee regulation 18 4.2. Anti-money laundering 18 4.3. FDI regulations 18 5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 19 6. PAYMENT CARDS 22 7. DEBIT CARDS 24 7.1. Debit card market analysis 24 7.2. Competition in the debit card market 26 7.3. Debit card comparison 27 8. PAY-LATER CARDS 28 8.1. Pay-later card market analysis 28 8.2. Competition in the pay-later card market 30 8.3. Pa
List of Tables Table 1: Mexico: key facts, 2016 4 Table 2: Mexico: regional benchmarking of payment cards, 2016 4 Table 3: Mexico: mode of entry of foreign banks 18 Table 4: Mexico: debit card comparison and key features, 2016 27 Table 5: Mexico: gold cre