Over the last decade, Latin America’s card industry has enjoyed explosive growth. Issuers (banks and others), card networks (MasterCard, Visa & Amex), large acquirers and processors as well as retailers have been the prime benefactors of expanding consumer credit, which grew at CAGR levels of >20%. During this time, Brazil became the most profitable credit card market in the world, buoyed by heavy consumer spending and some of the highest APRs found anywhere. The single product that has driven Latin America’s robust card industry has been the consumer credit card, the prized possession of the region’s aspiring middle class. Going forward, the playing field will get tougher and more diverse. Consumer credit has reached exhausted levels in Brazil and Chile. Future growth in the LatAm payment industry will come from new products: digital wallets, mobile money, and young products such as pre-paid, business cards, and purchase cards.
AMI consultants have conducted over 200 studies of Latin America's payment sector, including the following product segments:
- A Guide to Business Expansion: Who, What, Where, When, and How
- Securing a Way into Latin America's Largest Corporations
- Navigating the Brazilian Healthcare Payment Industry
- How Can I Best Serve My Affluent Customers?
- Discovering Target Customer Preferences
- Mortgages for the Affluent
- Making an Impressive Debut
- Trying Too Hard to Breathe New Life Into an Old Product
- Send the Money Home
- Demystifying the digital wallet in Latin America
- Commercial Cards in the Andean Markets
- The logistics of banking the unbanked
- Serving the affluent client in the United States
- Stored value cards across Latin America
- Targeting niche demand – Remittances
- Making an Impressive Debut: Entering the credit card market in Brazil
- Better serving investors’ real estate needs in Mexico
- Product viability: Financial services in three markets
- Best practices to capture target demand
- Pursuing the best regional opportunities in the commercial card segment
- Establishing a market share performance benchmark
- Is the insurance industry corrupt?
- Redefining customer segmentation
- Monitoring the developments of Mexican energy reform
Most Sought After Services by the Financial Services Sector
Business Expansion – Developing dozens of new card and debt products each year, banks and card companies constantly study the market to find the best product mix for expansion.
Competitor Monitoring – The dynamic nature of the industry demands a constant monitoring of competitive threats and best practices.
Usage & Attitude – Latin American wallets are increasingly crowded with multiple card options. U&A surveys offer card product developers vital insight into what drives loyalty and triggers use.