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World Cards Intelligence (WCI) is a research report by the Lafferty Group on the payments market in over 65 countries. Below are some of the highlights about the Brazilian payment market.

• As the largest and most densely populated country in Latin America, Brazil should be a key market for any internationally ambitious credit card issuer, although competition is fierce and the market is dominated by five players. The combined share of the top-five bank issuers has grown consistently to 85 percent of all bank credit cards in issue. For international players to succeed in the market, they need a highly-focused strategy via joint ventures with a high-profile partner, or to conduct large-scale acquisitions.

• The Brazilian credit cards market continues to grow at a very healthy rate, with significant growth potential from the remaining unbanked population. In 2009, the private-label cards sector will exceed the equivalent of total penetration of the adult population (1 card per adult). Lafferty Group forecasts that it will not be until 2011 that there will be the equivalent of one bank-issued credit card per adult. Even then, cards penetration will be skewed by multiple card ownership among a more concentrated population.

• The Brazilian credit card profit pool is significant and – with the impact of the economic crisis in the US market – has become one of the largest markets globally, according to Lafferty Group research on 65 markets worldwide. Brazil is characterized by very high interest rates, large interest spreads, and relatively high merchant fees.

More information about the report can be found on the World Cards Intelligence website.