BRIC Debit Divergence: Brazil and India

New research from Mercator Advisory Group examines the opportunity
market for traditional debit issuers in BRIC countries

Boston, MA — In a new report, BRIC Debit Divergence: Brazil and India, Mercator Advisory Group reviews the way different countries within the BRIC block have developed their financial services and electronic payments markets.

In the two countries examined in the report, the promise of economic opportunity has been translated into payment products developed in conformance to cultural norms and national regulatory pressures. One might expect that within these countries, global card networks would find a ready market, and that was the case at the onset. However, as the market matured and government oversight agencies and banks gained industry experience, the original network relationships also evolved.

“These original BRIC countries continue to offer viable opportunities for debit industry stakeholders wanting to enter India and Brazil, but foreign companies will have to navigate their way through a more experienced, and protective, national market,” comments Patricia Hewitt, author of the report and Director of Mercator Advisory Group’s Debit Advisory Service.

Major highlights of this report include:

Examination of the opportunity market for debit vs. credit in Brazil and how this opportunity expands the market needs for specialty products and services

Review of the demographic profile of Brazil and India and discussion of the ways it impacts emerging payments (such as mobile technologies developed on platforms independent of smartphone applications)

Overview of regulatory actions in both Brazil and India, including the way that each country is attempting to protect its national payments market

Analysis of the prospects for cloud-based products and services in India

Estimation of the potential growth in electronic payment forms versus cash and check

One of 17 exhibits in this report:


This report is 30 pages long and has 17 exhibits.

Companies mentioned in this report include: Hipercard, Redecard, Cielo, Visa, MasterCard, Citibank, HSBC, Banco do Brasil, Walmart, TecBan, ItzCash, Oi Paggo, ICICI Bank, and RuPay.

Members of Mercator Advisory Group’s Debit and International Advisory Services have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits. Please visit us online at

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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world’s largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal