The credit and debit card market in Bolivia is characterized by significant competition and dynamic growth, particularly in terms of market share and transaction volumes. As of March 2024, the market for debit cards has reached 7 million, while the credit card market remains considerably smaller at 0.2 million cards. The total number of banking system clients stands at 15.3 million, indicating a broad base of consumers engaged in the financial system.
In terms of credit card´s receivables market share growth, Banco Ganadero S.A. has emerged as the leader, gaining 3.78 percentage points. Close behind is Banco Nacional de Bolivia S.A. with a 3.65 percentage point increase, followed by Banco Económico S.A. at +3 points. Banco BISA S.A. and Banco Mercantil Santa Cruz S.A. also showed notable growth, gaining +2.70 and 1.57 percentage points respectively.
When analyzing market share by the volume of credit card portfolio, Banco Económico S.A. leads the pack with an 18.2% market share. Banco de Crédito de Bolivia S.A. follows closely with 16.8%, and Banco Nacional de Bolivia S.A. holds 16.4%. Collectively, these three competitors control 51.3% of the credit card market, underscoring their dominance and influence in the sector.
The overall business evolution has shown positive trends. There has been an 11.5% year-on-year increase in the number of POS transactions conducted with cards. More strikingly, the volume of these transactions has surged by 45.9%, reflecting a substantial rise in consumer spending and the growing acceptance of card payments across the economy.
In conclusion, the Bolivian credit and debit card market is experiencing robust growth, with significant gains in market share by key players and increasing transaction volumes.
In terms of credit card´s receivables market share growth, Banco Ganadero S.A. has emerged as the leader, gaining 3.78 percentage points. Close behind is Banco Nacional de Bolivia S.A. with a 3.65 percentage point increase, followed by Banco Económico S.A. at +3 points. Banco BISA S.A. and Banco Mercantil Santa Cruz S.A. also showed notable growth, gaining +2.70 and 1.57 percentage points respectively.
When analyzing market share by the volume of credit card portfolio, Banco Económico S.A. leads the pack with an 18.2% market share. Banco de Crédito de Bolivia S.A. follows closely with 16.8%, and Banco Nacional de Bolivia S.A. holds 16.4%. Collectively, these three competitors control 51.3% of the credit card market, underscoring their dominance and influence in the sector.
The overall business evolution has shown positive trends. There has been an 11.5% year-on-year increase in the number of POS transactions conducted with cards. More strikingly, the volume of these transactions has surged by 45.9%, reflecting a substantial rise in consumer spending and the growing acceptance of card payments across the economy.
In conclusion, the Bolivian credit and debit card market is experiencing robust growth, with significant gains in market share by key players and increasing transaction volumes.
