Payments Landscape in Uruguay: Opportunities and Risks to 2023
- June 2019
- 44 pages
GlobalDatas "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 GlobalDatas 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.
- 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 ($2.78), while the monthly fee for wireless POS terminals must not exceed UYU140 ($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 ($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 countrys 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.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Banking
Financial ServicesConsumers And The Economic Outlook - US - January 2020