Latin America online payment methods 2021 report: current



Dublin, August 12, 2021 (GLOBE NEWSWIRE) – The report “Online payment methods in Latin America 2021 after COVID-19” has been added to offer.

The report provides an overview of the current status and future trends of the online payments market in Latin America. Among other findings, the publication reveals that in Latin America, a smartphone was the preferred device to use when shopping online in 2020.

Global payments market has shifted dramatically to cashless transactions due to COVID-19 in 2020

The global payments market has been fundamentally affected by the COVID-19 health crisis in different industries internationally. Due to limitations imposed by administrations in many countries, conventional payment structures have shifted to digitized structures as they were safer, faster and more convenient amid COVID-19 in 2020.

Consumers in most countries have shifted their preferences to mobile payments, which is why companies have focused on bringing them experiences on digital or mobile platforms. After the start of the pandemic, consumers turned to payment types where there was less interaction. As a result, cashless transactions are expected to double globally by 2030, led by the Asia-Pacific region.

While the two lagging regions were Africa and Latin America. Most of these non-cash payments were to be held by contactless cards in 2020.

Mobile payments gained momentum in Latin America in 2020, with more than 70% of Mercado Libre online sales made via a mobile device

Amid the pandemic, Latin American consumers have mainly opted for smartphones when shopping online, and with such usage increasing from 2019 to 2020.

Mercado Libre, a major player in online retailing in the region, reported that more than 70% of sales were made via mobile in 2020. The value of digital purchases via mobile increased by almost 80% in Brazil from 2019 to 2020. However, there were also consumers who avoided mobile payment apps, as around a quarter of those polled in a survey in Brazil said they thought they were not safe. or that they didn’t know how they worked.

Cover of the report

  • This report covers the Latin American online payment market. It takes into account a broad definition of online payment, including payment methods used in online shopping and mobile payment, such as distance and proximity payments. Additionally, information related to the impact of the coronavirus (COVID-19) on digital payments in Latin America and around the world has been included in this report.
  • The report includes data released mostly within the past 12 months. The exact date of publication of the source is indicated on each map. The time period to which the data refer differs depending on the source.

Structure of the report

  • The Global Chapter opens the report, providing an overview of global developments in online and mobile payments.
  • Then information on regional development is included, covering online and mobile payment. Additionally, a graphic summarizing the impact of the health crisis on digital payments and post COVID-19 trends in Latin America.
  • The rest of the report contains country specific information. The countries of the region are presented in descending order of B2C E-Commerce sales.
  • Depending on data availability, the following types of market information are included: payment methods most used by online shoppers, number and value of online / mobile payment transactions, use of mobile payments and consumer awareness of mobile payment services. Not all of the types of information mentioned are available for each of the countries covered.

Main topics covered:

1. Executive summary

2. Global developments

  • Post-COVID-19 Online and Mobile Payments Market, August 2021
  • Post-COVID-19 Online and Mobile Payments Market, August 2021
  • Number of cashless transactions, billions, CAGR,%, 2020, 2025f & 2030f
  • Value of contactless card transactions, in trillions of USD, 2020 and 2021e
  • Value of virtual card transactions, in trillions of USD, 2021e and 2026f
  • Value of Buy Now Pay Later transactions, in billions of USD, 2021e and 2026f
  • Distribution of opinions on whether blockchain will replace current payment systems over the next 10 years,% of respondents, 2020
  • Share of contactless card transactions, as a% of the total value of contactless transactions, 2021e
  • Top low value payment methods that will be used the most in a country,% of respondents, 2020
  • B2C e-commerce sales of top 10 countries, by B2C e-commerce sales growth,% year-on-year change, 2020e
  • B2C e-commerce annual growth rate, by region, in%, 2020e
  • Internet penetration rate,% of households, 2020
  • Proximity mobile payment users in selected countries, as a% of smartphone users, 2021st
  • Value of losses due to e-commerce fraud, in billion USD, 2020 & 2021e
  • Number of users making online payments with facial recognition, in billions, 2020 and 2025f
  • Number of users who will confirm transactions with speech recognition, in millions, 2020 and 2025f

3. Latin America

3.1. Regional

  • Post-COVID-19 Online Payments Market, August 2021
  • Ownership of cards in selected countries, by type of card, in% of Internet users and banked population, 2019 and 2020
  • Main devices used to purchase products / services online, in% of adult Internet users and bankers, 2019 and 2020
  • Decrease in cash use,% of consumers, 2020
  • Main payment methods used for in-store purchases,% of consumers, 2020
  • Top Payment Methods Used for Ecommerce Purchases Amid COVID-19,% of Consumers, 2020
  • Evolution of B2C e-commerce sales from one year to the next, by 3 forecasts made in November 2019, May 2020 and December 2020, 2018 – 2022f
  • B2C E-Commerce sales, in billion USD, 2019 – 2020e
  • Distribution of B2C Mercado Libre e-commerce sales, by selected country, by mobile and non-mobile, as a% of total B2C e-commerce sales, 2020e

3.2. Brazil
3.3 Mexico
3.4. Argentina
3.5. Colombia
3.6. Chile
3.7. Peru
3.8. Dominican Republic

For more information on this report, visit



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