Financial Services: Business Potential in Central America

At a regional level, nearly 16 million people are looking to purchase financial services online. Of this group of consumers, approximately 11% are exploring options for acquiring a credit card.

Thursday, June 25, 2020

The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.

Currently in the Guatemalan market, of the total number of consumers who are looking to contract a financial service via the Internet, 10% are trying to acquire a personal loan, while 7% are trying to obtain the services of a credit card.

A more detailed analysis of financial services market conditions in Guatemala in recent months shows that consumer credit (credit cards) price levels have been rising, with 1.3% and 1.5% year-on-year variations for April and May, respectively.

The study states that in the Costa Rican market more than 200,000 people are looking to buy student loans and in Panama, about 20,000 consumers are trying to buy a commercial loan.

In El Salvador, details the interactive report, of the total number of consumers who are seeking to hire a financial service online, 12% seek to acquire a credit card, while in Honduras that proportion rises to 8%, and in Nicaragua, 7%.

CentralAmericaData has a complete information system for the analysis of consumer interests in any country in the region, allowing companies to project demand trends and anticipate changes that will occur in various sectors and categories of products and services. This information system allows a weekly tracking of the preferences and purchase intention of Central Americans by product or category, resulting in an extremely valuable input to make business decisions in the new commercial reality.

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Credits: Potential Market in the Region

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In the countries of the region, more than 8 million people are looking for credit on the Internet. Of this group of consumers, approximately 9% explore options for taking out a student loan.

The interactive information system developed by CentralAmericaData monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.

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Credit Card Rates and Fees in Panama

August 2013

A comparative analysis of fees and nominal annual interest rates for the first week of August 2013 on credit and financing cards.

From information published by the Consumer Authority of Panama:

Background

"Credit Card: An instrument which is magnetic, electronic or using other technology from the execution of a credit agreement previously concluded between a financial intermediary and another person, in order to facilitate the lease of or to obtain goods and services or obtaining cash from business affiliated to the system. "

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