The Mexican Card Market
The report, titled ‘Emerging Opportunities in Mexico’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape’, focuses on emerging opportunities in the Mexican payment industry based on feature analyses of HSBC, JP Morgan, Banamex and BBVA Bancomer (view press release). Key findings from the research, which took place between 2008-2012, include:
- Debit cards provided the principal stimulus of growth recording CAGR of 13.58%.
- Carnet, a domestic service provider, is in position to transform the Mexican cards market.
- ATM network, Prosa, is expected to enable the wider issuance and adoption of Carnet Cards around the country.
- The prepaid cards space is expected show the strongest growth at a CAGR of 12.09%. This was driven by government payroll, welfare and benefit cards, prepaid travel and transport cards, and prepaid gift cards.
- Mexican banks promoted prepaid cards through a low price model, charging no annual or card replacement fees, and no charge for balance enquiries or cash withdrawals. Fees were typically only levied for overseas usage.
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