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Credit Cards Market in Paraguay - 2023.12 Rankings

Issuer´s market share growth ranking, by number of cards
Acquirer´s market share growth ranking, by number of cards   
The closing figures for the fourth quarter of 2023 reveal a robust expansion in Paraguay's card market, showcasing notable increases both in card issuance and transaction volumes. According to Q4.2023 report, there has been a significant uptick of 15% annually in the number of cards issued, coupled with an 11.5% surge in purchase volumes denominated in USD. This growth trajectory underscores a burgeoning consumer reliance on card-based transactions within the Paraguayan economy.
Analysis of transaction patterns further shows the market's dynamism, with a marked increase of 25.4% in the total number of point-of-sale (POS) and non-presential transactions, aggregating to an impressive 39.8 million transactions. Moreover, the volume of credit card financing portfolios witnessed a commendable 12% year-on-year expansion, reflecting a sustained appetite for credit among consumers.
A pivotal aspect of this burgeoning market lies in the network of merchants and acquirers. Notably, the roster of participating merchants has expanded by an impressive 20% annually, while the proliferation of POS terminals has outpaced this growth slightly, boasting a nearly 22% annual uptick. This expansion underscores the infrastructure's readiness to cater to the escalating demand for card-based transactions.
In terms of market share growth dynamics, a issuer´s ranking based on card issuance reveals notable players driving this expansion. Topping the list is UENO BANK, followed closely by BANCO CONTINENTAL, FINANCIERA FIC, BANCO GNB PARAGUAY, and BANCOP. 
Similarly, a comparative analysis of year-on-year variations among network operators sheds light on the evolving competitive dynamics within the industry. Noteworthy performers include BEPSA, CABAL, BANCARD, PANAL, and PROCARD, each making strategic strides to solidify their positions amidst shifting consumer preferences and regulatory landscapes. 
Base de datos de Excel