Weekly Newsletter: Free reports downloads and rankings. Subscribe today.

Credit Cards market in Dominican Republic - 2022.09 ranking


Third quarter of 2022 data show that the first 10 issuers by portfolio value have been able to increase their volume in nominal values compared to the previous year. Banco Popular, Banreservas and BDH remain in the Top 3 of issuers and jointly manage more than 60% of the market.
CREDIT CARD MARKET IN DOMINICAN REPUBLIC. INDUSTRY STATISTICS AND ISSUERS RANKING
   
The credit card market in the Dominican Republic has 2.8 million cards (of which 43% are contactless cards) and gaining new customers requires a great effort from issuers (less than 100,000 net new users during 2022) mainly due to intense competition and the relative saturation of the segments that can access and frequently use credit cards.
  
On the other hand, debit cards have had greater growth, mainly during 2021 (almost 800,000 new cards entered the market) and to a lesser extent during the first quarters of 2022 (with a net growth of just over 200,000 debit cards) currently resulting in 6.1 million debit cards in the country. This uneven trend can be clearly seen by analyzing the growth in the number of users by type of card in the last decade (2022 vs 2012). While in credit cards it has been 32%, for debit cards it has exceeded 85%.
    
Regarding the use of cards in terms of the number of transactions and transactions value Credit Cards Market in Latin America Market Research 2022.Q3 data show that the number of operations carried out with credit cards has increased by 23% interannual (2022.Q3 vs 2021.Q3) and just over 20% in value of transactions measured in RD$. Likewise, during 2022 international operations show much higher rates of year-on-year growth, with an increase in volume of 49%.
   
Premium credit cards represent a significant proportion of the volume of spending, although this ratio varies considerably depending on the issuer's portfolio profile. However, in terms of number of customers, standard cards maintain a clear predominance with an average of 70% in leading competitors.
   
Credit Card transaction value (RD$) by credit card segment
CREDIT CARD MARKET IN LATIN AMERICA. INDUSTRY STATISTICS AND ISSUERS RANKING
 
Credit Card clients by credit card segment

CREDIT CARD MARKET IN LATIN AMERICA. INDUSTRY STATISTICS AND ISSUERS RANKING