Dallas, Texas (PRWEB) September 11, 2012
Consumer Payments in the U.S.: The Latino Market illustrates the importance of Latinos to the debit and prepaid card worlds. Between 2004 and 2011 the number of Latinos with debit/ATM cards more than doubled (115%), while the number of non-Latinos with debit/ATM cards increased only 51%. Thus the report demonstrates the increasingly crucial role played by Latinos in all aspects of the consumer payments market.
Latino consumers are a bright spot in an otherwise dreary picture for issuers of credit cards. According to Experian Simmons National Consumer Study (NCS) data, between 2004 and 2011 the total number of American consumers with credit cards dropped 5%, while the number of non-Latinos with credit cards fell 7%. During this same period, however, the number of Latino cardholders increased 23%. Thus, the vibrant growth in the number of Latino cardholders helped arrest what would have been an even more significant decline in the total number of American consumers owning credit cards.
The report begins with an analysis of the top trends driving the Latino consumer payments market and shows how Latinos have sparked growth within the credit and debit card industries. It continues with an overview of Latino consumer payment patterns that includes analyses of how Latinos pay their bills and pay for purchases. The report continues with a chapter examining trends in Latino consumer spending patterns. The next chapter explores the use of credit cards by Latinos and includes an overview of the demographic characteristics of Latino cardholders by type of credit card as well as a review of the personal financial management attitudes of Latinos with credit cards. The following chapter investigates the use of debit cards and prepaid (not gift) cards by Latinos. The final chapter of the report analyzes the impact of media acculturation on Latino consumer payment practices and highlights regional differences in the Latino consumer payments market.
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The Latin American market has been one of the fastest-growing regions for card payment volume in recent years and is expected to be the second fastest-growing region over the period to 2017. The growths region has been aided by non-revolving products like debit and pre-paid cards. Like many emerging markets, cash remains king and accounts for more than half of the regions total consumer payment transactions. The large unbanked population is a major driver of the high cash usage.
Assessing the Payment Landscape in Latin America global briefing report offers insight into the size and shape of the Consumer Finance market, highlights buzz topics, emerging geographies, categories and trends as well as pressing industry issues and white spaces. It identifies the leading companies and offers strategic analysis of key factors influencing the market. Forecasts provide an invaluable perspective on market evolution and the criteria for success. The briefing leverages Euromonitor Internationals 360-degree coverage of the global payments landscape including insight on consumer debt.
Product coverage: Consumer Lending, Financial Cards and Payments.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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