Latin America Online Payment Methods Market Report 2022: Digital Payments Rising in Latin America, Cash Shrinking Post-Pandemic –


DUBLIN–(BUSINESS WIRE)–The “Online payment methods in Latin America 2022” report has been added to from offer.

Credit and debit cards lead B2C e-commerce payments in Latin America

According to the latest data included in the report, credit cards remain the primary means of payment used by online shoppers in Latin America. Domestic and international credit cards together account for more than half of online retail payments in the region, thanks to their high shares in the three largest B2C e-commerce markets – Brazil, Mexico and Argentina.

Alternative online payment methods are on the rise

In terms of growth rate, however, alternative payment methods such as digital wallets and bank transfers are overtaking cards across the region. Online payments by bank transfer, for example, have more than doubled between 2020 and 2021. Other major alternative payment methods include digital wallets and cash payment services. Although the use of cash has declined during the pandemic, cash payments such as Oxxo in Mexico and ServiPag in Chile maintain their position among the top payment methods used by online shoppers.

Mobile payments to see more growth post-pandemic

Latin American countries have yet to catch up with markets such as China and the United States in terms of in-store mobile payment usage. One in five smartphone users in Brazil made mobile point-of-sale payments in 2021, and even fewer in Mexico. Over the next few years, however, mobile payment usage in the region is expected to grow with hundreds of millions of consumers adopting mobile wallets and placing Latin America third in the world in mobile wallet users. here 2025.

Main topics covered:

1. Management Summary

2. Global developments

  • Trends in online and mobile payments, May 2022

  • Value of payments, by e-commerce payments and POS payments, in USD trillion, 2021 and 2026f

  • Share of cash payments, as % of total value of POS transactions, by region, 2021 and 2025f

  • Value of contactless card transactions, in USD trillion, 2020 and 2021e

  • Share of contactless card transactions, in % of the total value of contactless transactions, 2021e

  • BNPL B2C e-commerce sales, in billion USD, 2021e & 2026p

  • Number of BNPL users, in millions, 2021e & 2026f

  • BNPL’s share of B2C e-commerce payments, in %, 2021e & 2026f

  • Value of Digital Wallet Transactions, USD Trillion, 2022f & 2026f

  • Number of B2C e-commerce transactions paid by OEM mobile payment apps, in billions, 2022f and 2026f

  • Number of mobile wallet users, by region, in millions, 2020 and 2025f

  • Mobile proximity payment users worldwide, in millions, and annual change, in %, 2020-2025f

  • Penetration of mobile proximity payment users, as % of smartphone users, 2020-2025f

  • Penetration of local mobile payment users, in % of smartphone users, 2021e

  • Value of cryptocurrency payments, USD billion, 2018-2023f

3. Latin America

3.1. Regional

3.2. Brazil

  • Distribution of payment methods in B2C e-commerce, in % of sales volume, 2021

  • Main payment methods used in mobile purchases, in % of mobile buyers, June 2021

  • Global value of card payments, BRL billion, 2019-2021

  • Value of debit and credit card payments, in BRL billion, 2020 and 2021

  • Card ownership, by debit, credit and prepaid cards, in % of banked Internet users, 2020 & 2021

  • Number of real-time payment transactions, in billions, 2020 and 2025f

  • Penetration of mobile wallet users, % of population, 2020 and 2025f

  • Mobile wallet transaction value, USD billion, and volume, billion, 2020 and 2025f

  • Share of online transactions that PIX users pay by PIX, in %, 2021

  • E-commerce transactions paid with PIX, as % of total e-commerce volume, 2024f

  • Top reasons for not using mobile payment app, % of consumers, June 2021

  • Share of respondents victims of financial fraud, in %, 2019 and 2021

3.3. Mexico

  • E-commerce payment volume, by payment method, USD billion, and annual growth of e-commerce payment methods, in %, 2021e Breakdown of online card payments by debit and credit card, in %, Q1 2021

  • Number of real-time payment transactions, in billions, 2020 and 2025f

  • Card ownership, by debit, credit and prepaid cards, in % of banked Internet users, 2020 & 2021

  • Payment methods used to pay for cross-border online purchases, as % of cross-border online shoppers, February 2021

  • Payment methods used during the 2021 sales, in % of online shoppers, June 2021

  • Share of Buy Now Pay Later in B2C e-commerce sales, in %, 2021 and 2025f

  • Average share of mobile fraud, as % of total retail fraud losses, 2019 and 2021e

3.4. Argentina

  • Breakdown of B2C e-commerce sales by payment method, in %, 2021

  • Breakdown of B2C and C2C e-commerce sales by payment method, in %, 2020 and 2021

  • Card ownership, by debit, credit and prepaid cards, in % of banked Internet users, 2020 & 2021

  • Main means of payment used during the previous month, in % of banked Internet users, 2020 and 2021

  • Growth of QR payment methods, incl. Evolution of the number of transactions, invoices and operators, in %, November 2021 compared to September 2021

3.5. Colombia

3.6. Chile

3.7. Peru

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