Mastercard considers that there is a lot of growth potential in Peru, according to the multinational financial services company’s president for Latin America and the Caribbean, Carlo Enrico.
“I have no doubt that Peru is the market in the region that offers the best opportunities,” he told El Comercio.
According to Enrico, there is low penetration of electronic payments done by card, which is why he believes there is a very high potential for growth in the country.
Currently, these transactions reach only 12% of the total transactions done daily in Peru, which is half of the Latin American average.
“Enrico recalls that this year all of the new cards and terminals operating in the local market will have contactless technology”, El Comercio wrote. This can cause the market to grow. For example, in Australia and Canada, the contactless technology has already reached 50% of the total payments, and in Poland, Hungary and Slovakia, it is 90%.
“The stores win because they provide an easier payment experience to the buyer. The consumer wins, because he does not have to enter a password, he does not have to enter his card to a device, so the experience becomes much easier”, the aforementioned media said.