Peru EDC Machine Industry and its Growth, Trends, Progress, Challenges, Opportunities and Upcoming Projects
Market Entry - EDC (Electronic Data Capture) Machine Market in Peru: Analysis of Growth, Trends and Progress (2016 - 2021)

PUBLISHED

DEC 2017

Market Entry - EDC (Electronic Data Capture) Machine Market in Peru: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

In the past decade, significant changes were observed in how people pay for products and services. Consequently, a tremendous shift took place towards paperless transactions and credit transfers, cheques and cards became the most popular payment channels. The growth drivers were the debit and credit card transactions, followed by the prepaid card transactions. Aiming at consumer convenience, card issuers and banks are taking locally strategized steps to introduce new technologies to increase market penetration. With banks migrating to EMV (Europay cards, MasterCard and Visa) cards the security levels shall be enhanced, leading to increased usage of cards. The entry of foreign multinationals in developing nations, after consolidating market presence in markets of origin (North America, Europe, and other developed regions) have led to rising competition in developing nations; focusing on operational innovation in marketing and pricing strategies to attract customers across segments. In the past five years, growth in banking and financial institutions had an imperative effect on the economic development of the country. Today, banks have become customer-centric and are focusing on having a good relationship with the customer in order to increase their footprint in the market. In the era of smart money, there has been a shift in trend towards a cashless society. Rapid technological advancement and growing demand for cashless transaction have led to robust growth for EDC machines in the country.

About the Geography

Peru is located on the west coast of South America and has a republican presidential government. It has a young population with median age 25.9 years and has a workforce of 16.8 million. Peru has been voted the second safest country to do business with in Latin America by Bloomberg, due to low risk and a consistently improving credit score.

Peru is committed to free trade and is strategically positioned as a regional transport hub and Brazil’s gateway to Asia. Peru's FDI comes primarily from Spain, the United States, and Great Britain. The most appealing points in terms of FDI are the low cost of wages and the non-restrictive policy concerning dividends. Foreign investment in Peru is governed by the 1991 Promotion of Foreign Investment Law and the Framework Law on the Growth of Private Investment, 1991, which establishes equal treatment of national and foreign capital. PRO inversion was established by the government in 2002 and is the sole representative of current and future investors, which took part in the privatization of public companies and industries based on natural resources. Peru has also signed the constituent agreement of the International Center for Settlement of Investment Disputes (ICSID). Foreign capital can be invested in all sectors of economic activity without prior authorization, except for a few sectors, such as the press, or implantations in border zones.

There are several challenges like corruption, bureaucracy, dispute with the native population over natural resources, language barrier, and technology. Peru’s policies allow foreign-owned companies to setup corporation, closed corporation, limited liability company, branch office, joint venture, distributor, or public corporation type company.

Component Name

Unit

GDP

192

GDP Annual Growth Rate

3.7

GDP Per Capita

5974

Employment Rate

63.2

Wages

489.78

Inflation Rate

3.13

Consumer Price Index (CPI)

124

Interest Rate

4.25

Loans to Private Sector (USD billion)

46.7188

Balance of Trade (USD million)

25.2

Business Confidence

61

Ease of Doing Business

50

Competitiveness Rank

67

Corruption Rank

88

Consumer Confidence

110

Consumer Spending (USD billion)

23.07826

Bank Lending Rate (Consumers)

0.57

Corporate Tax Rate

30

Sales Tax Rate

16

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of EDC (Electronic Data Capture) Machine Market (USD millions)

                4.1 By Terminal for transaction

                4.2 By End user

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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