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Payments Landscape in Uruguay Market Opportunities and Risks to 2021

(MoneyNewsWire.Net, July 02, 2018 ) GlobalData’s "Payments Landscape in Uruguay: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Uruguayan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, payment cards, and cheques during the review-period (2013-17).

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 (2017-21f). It also offers information on the country's competitive landscape, including 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 detailed regulatory policies and recent changes in regulatory structure.

This report provides top-level market analysis, information and insights into the Uruguayan cards and payments industry, including -
- Current and forecast values for each market in the Uruguayan cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including credit transfers, direct debit, payment cards, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- Analysis of various market drivers and regulations governing the Uruguayan cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

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- To promote payment card usage, in February 2018 the Uruguayan government reduced the interchange fee from 2.2% to 1.5% on debit cards, while for credit cards it was reduced from 4.5% to 4%. The government plans to further reduce the fee to 0.85% on debit cards and 2.25% on credit cards, although no timeframe has been announced. The reduction of interchange fees has encouraged card acceptance among merchants.
- In order to encourage electronic payments, the Uruguayan government mandated that cash cannot be used for transactions above UYU40,000 ($1,387.87) effective from April 1, 2018. This move follows the September 2017 restrictions placed on cash transactions at fuel stations. Petrol stations can accept cash payments of up to UYU800 ($27.76) between 6am and 10pm, but any amount above this has to be paid electronically. Cash payments are completely restricted at all other times. The government is already contemplating removing the time restrictions and completely abolishing cash transactions at fuel stations.
- Financial inclusion is one of the top priorities of the Uruguayan government. It has taken steps to bring the country’s large unbanked population into the formal banking system. The government passed a financial inclusion law in April 2014, as part of which it is now mandatory for payments of salaries, wages, pensions, and other social benefits to be made directly to bank accounts. In October 2015 the government introduced a new regulation allowing salary account holders the option to choose the financial institution they want their salary deposited at. Salary account holders are also offered benefits including annual and maintenance fee waivers, no minimum balance requirement, five transactions and eight enquiries a month free of charge, and a debit card. The regulation also stipulates that pensioners, social benefit beneficiaries, and SMEs should have access to free basic accounts with any authorized financial institution.

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Companies Mentioned:

Banco Republica
Itau Unibanco
American Express

Reasons to buy:

- Make strategic business decisions, using top-level historic and forecast market data, related to the Uruguayan cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Uruguayan cards and payments industry.
- Assess the competitive dynamics in the Uruguayan cards and payments industry.
- Gain insights into marketing strategies used for various card types in Uruguay.
- Gain insights into key regulations governing the Uruguayan cards and payments industry.

About Us:

Orbis Research ( is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

Orbis Research

Hector Costello

+1 (214) 884-6817

Source: EmailWire.Com

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