Credit Cards in Colombia

November 2023
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Overview:

Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Credit Card Transactions industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Credit Card Transactions in Colombia report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Credit Card Transactions in Colombia?
  • What are the major trends key to understanding Credit Card Transactions in Colombia?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?
Download Table of Contents

Credit Cards in Colombia - Category analysis

Credit Cards in Colombia - Company Profile

KEY DATA FINDINGS

Credit card use and household consumption
Banks compete with credit card perks and incentives
BanColombia maintains is lead in 2023
High interest rates and consumer caution impact credit card growth
Buy Now Pay Later: the convenient alternative for Colombian shoppers
Digitalisation drives expansion of virtual cards
Table 1 Credit Cards: Number of Cards in Circulation 2018-2023
Table 2 Credit Cards Transactions 2018-2023
Table 3 Credit Cards in Circulation: % Growth 2018-2023
Table 4 Credit Cards Transactions: % Growth 2018-2023
Table 5 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 6 Commercial Credit Cards Transactions 2018-2023
Table 7 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 8 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 9 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 10 Personal Credit Cards Transactions 2018-2023
Table 11 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 12 Personal Credit Cards Transactions: % Growth 2018-2023
Table 13 Credit Cards: Number of Cards by Issuer 2018-2022
Table 14 Credit Cards: Number of Cards by Operator 2018-2022
Table 15 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 16 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 17 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 18 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 19 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 20 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 21 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 22 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 23 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 24 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 25 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 26 Forecast Credit Cards Transactions 2023-2028
Table 27 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 28 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 29 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 30 Forecast Commercial Credit Cards Transactions 2023-2028
Table 31 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 32 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 33 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 34 Forecast Personal Credit Cards Transactions 2023-2028
Table 35 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 36 Forecast Personal Credit Cards Transactions: % Growth 2023-2028

Debit Cards in Colombia - Category analysis

Debit Cards in Colombia - Company Profile

KEY DATA FINDINGS

Online purchases support positive growth of debit cards
E-wallets and neobanks, the digital revolution in Colombian banking
Increasing penetration of POS terminals encourages use of debit cards
New entrants expected to tackle needs of small merchants
Alternative payments could hinder use of debit cards
Expanding financial services to rural communities
Table 37 Debit Cards: Number of Cards in Circulation 2018-2023
Table 38 Debit Cards Transactions 2018-2023
Table 39 Debit Cards in Circulation: % Growth 2018-2023
Table 40 Debit Cards Transactions: % Growth 2018-2023
Table 41 Debit Cards: Number of Cards by Issuer 2018-2022
Table 42 Debit Cards: Number of Cards by Operator 2018-2022
Table 43 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 44 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 45 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 46 Forecast Debit Cards Transactions 2023-2028
Table 47 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 48 Forecast Debit Cards Transactions: % Growth 2023-2028

Pre-Paid Cards in Colombia - Category analysis

Pre-Paid Cards in Colombia - Company Profile

KEY DATA FINDINGS

Transportation cards lead closed loop, but face competition from hybrid debit and store cards
Control of business spending: open loop pre-paid cards
Open loop pre-paid cards as a means of receiving benefits
Instant payment system expected to be implemented
Transportation cards driving closed loop pre-paid cards
Fintech to expand pre-paid card offerings
Table 49 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 50 Pre-paid Cards Transactions 2018-2023
Table 51 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 52 Pre-paid Cards Transactions: % Growth 2018-2023
Table 53 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 54 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 55 Open Loop Pre-paid Cards Transactions 2018-2023
Table 56 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 57 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 58 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 59 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 60 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 61 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 62 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 63 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 64 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 65 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 66 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 67 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 68 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 69 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 70 Forecast Pre-paid Cards Transactions 2023-2028
Table 71 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 72 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 73 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 74 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 75 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 76 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028

Store Cards in Colombia - Category analysis

Store Cards in Colombia - Company Profile

KEY DATA FINDINGS

Store cards continue their downward trajectory in 2023
Codensa with appealing features retains its lead
Store cards: first step towards financial inclusion
Significant decline expected due to increased competition from other cards
Persistence of store cards in smaller and regional cities
Advantages of Buy Now Pay Later: a threat to store cards
Table 77 Store Cards: Number of Cards in Circulation 2018-2023
Table 78 Store Cards Transactions 2018-2023
Table 79 Store Cards in Circulation: % Growth 2018-2023
Table 80 Store Cards Transactions: % Growth 2018-2023
Table 81 Store Cards: Number of Cards by Issuer 2018-2022
Table 82 Store Cards: Payment Transaction Value by Issuer 2018-2022
Table 83 Forecast Store Cards: Number of Cards in Circulation 2023-2028
Table 84 Forecast Store Cards Transactions 2023-2028
Table 85 Forecast Store Cards in Circulation: % Growth 2023-2028
Table 86 Forecast Store Cards Transactions: % Growth 2023-2028

Financial Cards and Payments in Colombia - Industry Overview

Financial cards and payments in 2023: The big picture
Growth in digital payment options in Colombia
New payment alternatives available for merchants
Competitive landscape
What next for financial cards and payments?
Table 87 Number of POS Terminals: Units 2018-2023
Table 88 Number of ATMs: Units 2018-2023
Table 89 Value Lost to Fraud 2018-2023
Table 90 Card Expenditure by Location 2023
Table 91 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 92 Domestic versus Foreign Spend 2023
Table 93 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 94 Financial Cards by Category: Number of Accounts 2018-2023
Table 95 Financial Cards Transactions by Category: Value 2018-2023
Table 96 Financial Cards by Category: Number of Transactions 2018-2023
Table 97 Consumer Payments by Category: Value 2018-2023
Table 98 Consumer Payments by Category: Number of Transactions 2018-2023
Table 99 M-Commerce by Category: Value 2018-2023
Table 100 M-Commerce by Category: % Value Growth 2018-2023
Table 101 Financial Cards: Number of Cards by Issuer 2018-2022
Table 102 Financial Cards: Number of Cards by Operator 2018-2022
Table 103 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 104 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 105 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 106 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 107 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 108 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 109 Forecast Consumer Payments by Category: Value 2023-2028
Table 110 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 111 Forecast M-Commerce by Category: Value 2023-2028
Table 112 Forecast M-Commerce by Category: % Value Growth 2023-2028

DISCLAIMER

Summary 1 Research Sources
The following categories and subcategories are included:

Credit Card Transactions

  • Commercial Credit Card Transactions
    • Average Personal Credit Card Balance
    • Average Personal Credit Card Limit
    • Personal Credit Card Utilisation

Credit Card Transactions

Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.

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This report originates from Passport, our Credit Card Transactions research and analysis database.

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