The credit card market in Ecuador saw a 15.3% year-over-year increase in billing volume at the end of December 2023, while the number of transactions grew by a slightly smaller margin of 13%. With a total of more than 3 million active cards (an 11% increase during 2023), the average ticket size and the average number of purchases per card remained relatively stable, showing year-over-year changes of 2% and 1.7%, respectively.
Market share growth ranking (purchase value in USD)
BANCO DINERS CLUB led the market in billing volume, holding a 32% market share, followed by BANCO DEL PACIFICO and BANCO PICHINCHA. Together, these three leading institutions managed 71% of the billed volume in 2023.
In terms of customer numbers, BANCO DEL PACIFICO held the top spot with a 24.5% share at the end of December 2023. BANCO DINERS CLUB, BANCO PICHINCHA, and BANCO DE GUAYAQUIL also held significant market shares, collectively representing more than 75% of the local cardholder base.
VISA and MASTERCARD continued to dominate the business regarding the brand of cards issued, accounting for 70% of the billed volume over the past year. DINERS, on the other hand, predominantly covers the remaining 30% along with other brands such as AMERICAN EXPRESS, DISCOVER, ALIA, and UNION PAY.
In terms of customer numbers, BANCO DEL PACIFICO held the top spot with a 24.5% share at the end of December 2023. BANCO DINERS CLUB, BANCO PICHINCHA, and BANCO DE GUAYAQUIL also held significant market shares, collectively representing more than 75% of the local cardholder base.
VISA and MASTERCARD continued to dominate the business regarding the brand of cards issued, accounting for 70% of the billed volume over the past year. DINERS, on the other hand, predominantly covers the remaining 30% along with other brands such as AMERICAN EXPRESS, DISCOVER, ALIA, and UNION PAY.
