Table of Contents Introduction 9 Executive summary 9 Graph 1: Latin America: POS credit card billed volume 9 Strong growth in billed volume 10 Graph 2: Global credit card merchant services charges (MSC) 11 Falling MSC 11 Graph 3: Latin America: credit card average merchant service charges (MSCs) 12 Upward trend in income from MSC 13 Graph 4: Latin America: credit card income from merchant service charges (MSCs) 13 Graph 5: Latin America: credit card income from MSCs by country 2013 13 Graph 6: Income from MSC by region 14 Financial inclusion and electronic payments 14 Country profiles 15 Argentina 18 Payment cards market 19 Argentina: Card Holdings per 100 Adults 2007 2015F 19 Argentina: Credit Cards Metrics 2007-2015F 19 Argentina: Debit Cards Metrics 2007-2015F 20 Cards market overview 22 Credit cards 22 Debit cards 24 Argentina: Merchant Acquirer Credit Card Market Share 2013E 25 Argentina: Credit Cards Merchant Service Charges 25 Argentina: Merchant Acquirer Debit Card Market Share 2013E 26 Argentina: Debit Cards Merchant Service Charges 26 Merchant acquiring and processing 27 Acquiring 27 Argentina: Credit Card Issuer/Issuing Processor Relationship 28 Argentina: Credit Card Acquirer/Acquiring Processor Relationships 28 Argentina: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 29 Argentina: Credit Card Acquiring Processor Market Shares by Number of POS Transactions 2013E 29 Processing 30 Brazil 31 Payment cards market 32 Brazil: Card Holdings per 100 Adults 2005 2015F 32 Brazil: Credit Cards Metrics 2005-2015F 32 Brazil: Debit Cards Metrics 2005-2015F 33 Cards market overview 35 Brazilian payment cards 35 Credit cards 35 Debit cards 37 Merchant acquiring and processing 39 Brazil: Merchant Acquirer Credit Card Market Share 2013E 39 Brazil: Credit Card Merchant Service Charges 2007 2015F 39 Brazil: Merchant Acquirer Debit Card Market Share 2013E 40 Brazil: Debit Card Merchant Service Charges 2007 2015F 40 Merchant acquiring and procssing 41 Acquiring 41 Cielo 42 4
Redecard 42 Brazil: Credit Card Issuer/Issuing Processor Relationships 44 Brazil: Credit Card Acquirer/Acquirer Processor Relationships 44 Brazil: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 45 Brazil: Credit Card Acquiring Processor Market Shares by Number of POS Transactions 2013E 45 Processing overview 46 Fidelity 46 Orbitall 46 CSU CardSystem 47 Others 47 Chile 48 Payment cards market 49 Chile: Card Holdings per Adult 2007 2015F 49 Chile: Credit Cards Metrics 2007-2015F 49 Chile: Debit Cards Metrics 2007-2015F 50 Cards market overview 52 Payment cards 52 Credit cards 53 Debit cards 54 Chile: Merchant Acquirer Credit Cards Market Share 2013E 55 Chile: Credit Cards Merchant Service Charges 2007 2015F 55 Chile: Merchant Acquirer Debit Cards Market Share 2013E 56 Chile: Debit Cards Merchant Service Charges 2007 2015F 56 Merchant acquiring and processing 57 Acquiring 57 Transbank 57 Redbanc 58 Chile: Credit Card Issuer/Issuing Processor Relationship 59 Chile: Credit Card Acquirer/Acquiring Processor Relationships 59 Chile: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 60 Chile: Credit Card Acquiring Processor Market Shares by Number of POS Transactions 2013E 60 Processing 61 Colombia 62 Payment cards market 63 Colombia: Card Holdings per 100 Adults 2007 2015F 63 Colombia: Credit Cards Metrics 2007-2015F 63 Colombia: Debit Cards Metrics 2007-2015F 64 Cards market overview 65 Payment cards market 65 Credit cards 66 Debit cards 67 Colombia: Merchant Acquirer Credit Cards Market Share 2013E 68 Colombia: Credit Card Merchant Service Charges 2007 2015F 68 Colombia: Merchant Acquirer Debit Cards Market Share 2013E 69 Colombia: Debit Card Merchant Service Charges 2007 2015F 69 Merchant acquiring and processing 70 Acquiring 70 Credibanco 70 RBM Redeban Multicolor 70 5
Colombia: Credit Card Issuer/Issuing Processor Relationships 72 Colombia: Credit Card Acquirer/Acquiring Processor Relationships 72 Colombia: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 73 Colombia: Credit Card Acquiring Processor Market Shares by Number of POS Transactions 2013E 73 Processing 74 Ecuador 75 Payment cards market 76 Ecuador: Card Holdings per Adult 2007 2015F 76 Ecuador: Credit Cards Metrics 2007-2015F 76 Ecuador: Debit Cards Metrics 2007-2015F 77 Cards market overview 79 Payment cards market 79 Credit cards 79 Debit cards 81 Ecuador: Merchant Acquirer Credit Card Market Share 2013E 82 Ecuador: Card Credit Merchant Service Charges 82 Ecuador: Merchant Acquirer Debit Card Market Share 2013E 82 Merchant acquiring and processsing 83 Acquiring 83 Interdin 83 PacifiCard 83 ATM networks 84 Ecuador: Credit Card Issuer/Issuing Processor Relationships 85 Ecuador: Credit Card Acquirer/Acquiring Processor Relationships 85 Ecuador: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 86 Ecuador: Credit Card Acquiring Processor Market Shares by Number of Transactions 2013E (000s) 86 Processing 87 Mexico 88 Payment cards market 89 Mexico: Card Holdings per Adult 2007 2015F 89 Mexico: Credit Cards Metrics 2007-2015F 89 Mexico: Debit Cards Metrics 2007-2015F 90 Cards Market Overview 92 Payments cards market 92 Credit cards 92 Debit cards 93 Mexico: Merchant Acquirer Credit Card Market Share 2013E 95 Mexico: Credit Card Merchant Service Charges 95 Mexico: Merchant Acquirer Debit Card Market Share 2013E 96 Mexico: Debit Card Merchant Service Charges 96 Merchant acquiring and processing 97 Acquiring 97 Mexico: Credit Card Issuer/IssuingProcessor Relationships 98 Mexico: Credit Card Acquirer/Acquiring Processor Relationships 98 Mexico: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 99 Mexico: Credit Card Acquiring Processor Market Shares by Number of Transactions 2013E 99 Processing 100 E-Payment service providers 100 Paraguay 102 Payment cards market 103 6
Paraguay: Card Holdings per Adult 2007 2013F 103 Paraguay: Credit Cards Metrics 2007-2013F 103 Paraguay: Debit Cards Metrics 2007-2013F 104 Payment cards market 105 Credit cards 105 Debit cards 106 Merchant acquiring and processing 107 Paraguay: Merchant Acquire Credit Card Market Share 2011E 107 Paraguay: Merchant Service Charges 2007 2013F 107 Paraguay: Credit Card Issuer/Issuing Processor Relationships 107 Merchant acquiring overview 108 Paraguay: Credit Card Acquirer/Acquiring Processor Relationships 109 Paraguay: Credit Card Issuing Processor Market Shares by Card Numbers 2011E 109 Paraguay: Credit Card Acquiring Processor Market Shares by Number of Transactions 2011E 109 Processing 110 Peru 111 Payment cards market 112 Peru: Card Holdings per 100 Adults 2007 2015F 112 Peru: Credit Cards Metrics 2007-2015F 112 Peru: Debit Cards Metrics 2007-2015F 113 Cards Market overview 114 Payment cards Market 114 Credit cards 114 Debit cards 115 Peru: Merchant Acquirer Credit Card Market Share 2013E 116 Peru: Credit Card Merchant Service Charges 2007-2013E 116 Merchant acquiring and processing 117 Peru: Merchant Acquirer Debit Card Market Share 2013E 116 Peru: Credit Card Issuer/Issuing Processor Relationships 118 Peru: Credit Card Acquirer/Acquiring Processor Relationship 118 Peru: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 119 Peru: Credit Card Acquiring Processor Market Shares by Number of POS Transactions 2013E 119 Processing 120 VisaNet 120 Procesos MC 120 Other 120 Puerto Rico 121 Payment cards market 122 Puerto Rico: Card Holdings per 100 Adults 2007 20015F 122 Puerto Rico: Credit Cards Metrics 2007-2011 122 Puerto Rico: Credit Cards Metrics 2012-2015F 123 Puerto Rico: Debit Cards Metrics 2007-2010 123 Puerto Rico: Debit Cards Metrics 2011-2015F 124 Cards market overview 125 Payment cards market 125 Credit cards 125 Debit cards 125 Merchant acquiring and processing 127 Puerto Rico: Merchant Acquirer Credit Card Market Share 2013E 127 Puerto Rico: Credit Card Merchant Service Charges 127 Puerto Rico: Merchant Acquirer Debit Card Market Share 2013E 128 Puerto Rico: Debit Card Merchant Service Charges 128 7
Merchant Acquiring and Processing oveview 129 Puerto Rico: Credit Card Issuer/Issuing Processor Relationships 130 Puerto Rico: Credit Card Acquirer/Acquiring Processor Relationship 130 Puerto Rico: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 131 Puerto Rico: Credit Card Acquiring Processor Market Shares by Number of Transactions 2013E (000s) 131 Processing 132 Uruguay 133 Payment cards market 134 Uruguay: Card Holdings per Adult 2007 2014F 134 Uruguay: Credit Cards Metrics 2007-2014F 135 Uruguay: Debit Cards Metrics 2007-2014F 136 Credit cards 136 Debit cards 137 Uruguay: Merchant Acquire Credit Card Market Share 2012E 138 Uruguay: Merchant Service Charges 2007 2014F 138 Merchant acquiring and processing 139 Acquiring 139 Uruguay: Credit Card Issuer/Issuing Processor Relationships 140 Uruguay: Credit Card Acquirer/Acquiring Processor Relationships 140 Uruguay: Credit Card Issuing Processor Market Shares by Card Numbers 2012E 141 Uruguay: Credit Card Acquiring Processor Market Shares by Number of Transactions 2012E 142 Processing 143 Venezuela 143 Payment cards market 144 Venezuela: Card Holdings per Adult 2007 2015F 144 Venezuela: Credit Cards Metrics 2007 2015F 145 Venezuela: Debit Cards Metrics 2007 2015F 146 Cards market overview 147 Venezuelan payment cards 147 Credit cards 147 Debit cards 148 Merchant acquiring and processing 150 Venezuela: Merchant Acquirer Credit Card Market Share 2013E 150 Venezuela: Credit Card Merchant Service Charges 2007-2015F 150 Venezuela: Merchant Acquirer Debit Card Market Share 2013E 151 Venezuela: Debit Card Merchant Service Charges 2007-2015F 151 Merchant Acquiring and processing overview 152 Acquiring 152 Venezuela: Credit Card Issuer/Issuing Processor Relationships 154 Venezuela: Credit Card Acquirer/Acquiring Processor Relationships 154 Venezuela: Credit Card Issuing Processor Market Shares by Card Numbers 2013E 155 Venezuela: Credit Card Acquiring Processor Market Shares by Number of POS Transactions 2013E 155 Processing 156 About Lafferty Group 157 8