Credit Cards in El Salvador 2017-2026e
The credit card market in El Salvador has shown significant growth and resilience, with promising projections for the coming years. As of June 2024, there were 130.000+ POS (Point of Sale) terminals active across the country, reflecting the widespread acceptance and use of credit cards as a payment method. In parallel, 1.4 million credit cards were in circulation, illustrating a robust adoption of this financial product among Salvadorans.
By the end of 2024, it is estimated that credit card transactions will reach 76.6 million, generating a transaction volume of 5,108 million USD. This reflects an active and engaged market where, on average, each cardholder makes 57 transactions annually. This high usage rate demonstrates the central role that credit cards play in the day-to-day financial activities of consumers in El Salvador.
Credit card debt is another key aspect of the market. As of mid-2024, 0.8 million individuals in the country were recorded as credit card debtors. The total volume of credit card financing is projected to reach 1,215 million USD by the end of the year. This indicates a strong reliance on credit as a financial tool for personal and business needs, with many consumers opting to finance their purchases through revolving credit lines.
Looking ahead, the market is expected to continue its expansion. By 2026, in the most optimistic scenario, the transaction volume could surge to USD 7,900 million USD. This would represent a substantial increase and reflect both the growing demand for credit card services and the broader digitalization of financial transactions in the country.
Overall, the credit card market in El Salvador is dynamic, with high engagement from both consumers and merchants. With favorable growth projections, it is poised to remain a key component of the country’s financial ecosystem in the coming years.
By the end of 2024, it is estimated that credit card transactions will reach 76.6 million, generating a transaction volume of 5,108 million USD. This reflects an active and engaged market where, on average, each cardholder makes 57 transactions annually. This high usage rate demonstrates the central role that credit cards play in the day-to-day financial activities of consumers in El Salvador.
Credit card debt is another key aspect of the market. As of mid-2024, 0.8 million individuals in the country were recorded as credit card debtors. The total volume of credit card financing is projected to reach 1,215 million USD by the end of the year. This indicates a strong reliance on credit as a financial tool for personal and business needs, with many consumers opting to finance their purchases through revolving credit lines.
Looking ahead, the market is expected to continue its expansion. By 2026, in the most optimistic scenario, the transaction volume could surge to USD 7,900 million USD. This would represent a substantial increase and reflect both the growing demand for credit card services and the broader digitalization of financial transactions in the country.
Overall, the credit card market in El Salvador is dynamic, with high engagement from both consumers and merchants. With favorable growth projections, it is poised to remain a key component of the country’s financial ecosystem in the coming years.
