MarketResearchReports.Biz announces addition of new report "Consumer Payments Country Snapshot: Brazil 2016" to its database.
This report examines the consumer payments market in Brazil, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the regulations in force in the market that players must comply with, and how these have changed in recent years.
The Brazilian payments system will continue to move towards digital payments, in spite of cash use remaining relatively high. In the process of digitizing payments, the key opportunity is to provide products and services that are as easy to use, convenient, and secure as cash in order to actively contribute to financial inclusion in the country. The most important steps in the process will be the rise of smartphone penetration, increasing access to the internet, and the development of a digital payments infrastructure.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how companies in Brazil are deploying these tools to meet customer needs.
- Explores the online payment market in Brazil by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
- Considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.
- As Brazil gradually moves to non-cash payments, cards will be used more frequently by Brazilian consumers, with pay-now cards forecast to record 53% growth in use at the point of sale by 2020, compared to only 11% for pay-later. Providers should promote card adoption and use through merchant partnerships, reward programs, and day-to-day spending benefits, as well as educating consumers about the advantages of using cards over cash.
- M-commerce is expected to record a compound annual growth rate of 35% between 2015 and 2020, although desktop and laptop-based purchases will continue to account for the majority of online purchases by value in Brazil. Due to the significant size of the market (forecast to reach $65.2bn by 2020), e-commerce will see the largest opportunities in the online commerce market in the near term.
- As more than a third of Brazilian consumers have never heard of contactless cards, providers need to better promote awareness to reach the mass market. As more than 65% of Brazilian consumers are preoccupied by concerns over unauthorized use of their contactless cards if they are lost, providers should highlight security features in their value proposition in order to boost usage.
Reasons to buy
- Understand the key facts and figures in the consumer payments market in Brazil
- Find out what products the major competitors are launching in the market and plan your strategy accordingly.
- Discover consumer sentiments towards various payment tools in the Brazilian market and use this knowledge to inform product design.
- Learn about the key regulatory requirements affecting Brazilian payments players and any recent or upcoming changes to those requirements.
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