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Payments Landscape in Uruguay: Opportunities and Risks to 2023

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Details

Payments Landscape in Uruguay: Opportunities and Risks to 2023

Summary

GlobalData's "Payments Landscape in Uruguay: Opportunities and Risks to 2023", report provides detailed analysis of market trends in Uruguay's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, cheques and direct debits during the review-period (2015-19e).

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 (2019e-23f). 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.

This report provides top-level market analysis, information and insights into Uruguay's cards and payments industry, including-

- Current and forecast values for each market in Uruguay's cards and payments industry, including debit and credit cards.

- Detailed insights into payment instruments including cards, credit transfers, cheques and direct debits. It also, includes an overview of the country's key alternative payment instruments.

- Analysis of various market drivers and regulations governing Uruguay's cards and payments industry.

- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

- To encourage card payment acceptance among small businesses, in October 2018 the government further reduced the merchant service fee from 1.5% to 1.3% on debit cards and from 4% to 3.5% on credit cards for small businesses. The fee for other businesses remains 1.5% for debit cards and 4% for credit cards. The government plans to further reduce the fees on these cards over the coming years.

- To further drive POS terminal adoption, the government extended the regulation to provide POS terminals at subsidized rates until December 2019. As part of this the government has placed a cap on the price of POS terminals for 2019. For basic POS terminals the monthly fee must not exceed UYU90 (USD 2.78), while the monthly fee for wireless POS terminals must not exceed UYU140 (USD 4.32). In addition, a 40% subsidy is being offered on POS terminals during 2019 to new businesses and businesses with annual turnover of less than UYU4m (USD 123,484.04). A 100% subsidy is being offered to small taxpayers (monotributistas) such as electricians, plumbers, and private tutors until the end of 2019.

- The government has taken several measures to boost electronic payments. In November 2018 it introduced the APuntaTAXI app, enabling commuters to pay for taxis using their mobile devices. The government also mandated that all taxis in Montevideo must be equipped with POS terminals by the end of May 2019 in order to accept card payments. To reduce cash transactions in government offices, the government mandated that all government agencies must accept electronic payments effective from August 1, 2019. These measures are aimed at reducing the country's dependence on cash.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to Uruguay's cards and payments industry and each market within it.

- Understand the key market trends and growth opportunities in Uruguay's cards and payments industry.

- Assess the competitive dynamics in Uruguay's cards and payments industry.

- Gain insights into marketing strategies used for various card types in Uruguay.

- Gain insights into key regulations governing Uruguay's cards and payments industry.

READ MORE

Table Of Content

Scope

Table of Contents

Market Overview

Card-based Payments

Alternative Payments

Payment Innovations

Payments Infrastructure & Regulation

Appendix

Licence Rights

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

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Products and Companies


Companies

Banco Republica

Santander

Scotiabank

BBVA

Itau Unibanco

HSBC

Banco Bandes

Banque Heritage

OCA

Visa

Mastercard

American Express

Diners Club

Company Profile

Company Profile Title

Payments Landscape in Uruguay: Opportunities and Risks to 2023

Summary

GlobalData's "Payments Landscape in Uruguay: Opportunities and Risks to 2023", report provides detailed analysis of market trends in Uruguay's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, cheques and direct debits during the review-period (2015-19e).

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 (2019e-23f). 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.

This report provides top-level market analysis, information and insights into Uruguay's cards and payments industry, including-

- Current and forecast values for each market in Uruguay's cards and payments industry, including debit and credit cards.

- Detailed insights into payment instruments including cards, credit transfers, cheques and direct debits. It also, includes an overview of the country's key alternative payment instruments.

- Analysis of various market drivers and regulations governing Uruguay's cards and payments industry.

- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

- To encourage card payment acceptance among small businesses, in October 2018 the government further reduced the merchant service fee from 1.5% to 1.3% on debit cards and from 4% to 3.5% on credit cards for small businesses. The fee for other businesses remains 1.5% for debit cards and 4% for credit cards. The government plans to further reduce the fees on these cards over the coming years.

- To further drive POS terminal adoption, the government extended the regulation to provide POS terminals at subsidized rates until December 2019. As part of this the government has placed a cap on the price of POS terminals for 2019. For basic POS terminals the monthly fee must not exceed UYU90 (USD 2.78), while the monthly fee for wireless POS terminals must not exceed UYU140 (USD 4.32). In addition, a 40% subsidy is being offered on POS terminals during 2019 to new businesses and businesses with annual turnover of less than UYU4m (USD 123,484.04). A 100% subsidy is being offered to small taxpayers (monotributistas) such as electricians, plumbers, and private tutors until the end of 2019.

- The government has taken several measures to boost electronic payments. In November 2018 it introduced the APuntaTAXI app, enabling commuters to pay for taxis using their mobile devices. The government also mandated that all taxis in Montevideo must be equipped with POS terminals by the end of May 2019 in order to accept card payments. To reduce cash transactions in government offices, the government mandated that all government agencies must accept electronic payments effective from August 1, 2019. These measures are aimed at reducing the country's dependence on cash.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to Uruguay's cards and payments industry and each market within it.

- Understand the key market trends and growth opportunities in Uruguay's cards and payments industry.

- Assess the competitive dynamics in Uruguay's cards and payments industry.

- Gain insights into marketing strategies used for various card types in Uruguay.

- Gain insights into key regulations governing Uruguay's cards and payments industry.

READ MORE

Scope

Table of Contents

Market Overview

Card-based Payments

Alternative Payments

Payment Innovations

Payments Infrastructure & Regulation

Appendix

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS


Companies

Banco Republica

Santander

Scotiabank

BBVA

Itau Unibanco

HSBC

Banco Bandes

Banque Heritage

OCA

Visa

Mastercard

American Express

Diners Club