Latin America’s digital payments market is projected to triple to $0.3 trillion by 2027, driven by fintech innovation, financial inclusion, and e-commerce expansion. Mobile payments and real-time transactions like Brazil’s Pix are transforming financial access, while cryptocurrency adoption surpasses 55M users in 2024, with Argentina leading the region. E-commerce sales will exceed $260B by 2028, accelerating the shift from cash to digital wallets, A2A transfers, and alternative payments. Despite growth, LATAM’s global market share will remain under 10%, trailing Asia-Pacific and North America.
Dublin, March 05, 2025 (GLOBE NEWSWIRE) -- The "LATAM Payment Methods & Digital Payments 2025: Consumer Trends and Market Forecasts" report has been added to ResearchAndMarkets.com's offering.
Latin America's Digital Payment Revenue to Triple by 2027
Latin America's digital payments market is set to grow significantly, with revenue projected to reach USD 0.3 trillion by 2027. Growth is driven by financial inclusion, fintech innovation, and regulatory reforms. Despite this expansion, the region's global market share will stay below 10%, far behind Asia-Pacific and North America. However, mobile payments, digital wallets, and real-time transactions are broadening financial access.
E-Commerce Growth Accelerates Digital Payment Adoption
E-Commerce is fueling digital payment adoption, with sales expected to exceed USD 260 billion by 2028. Brazil's Pix is transforming transactions, debit cards lead in Mexico, and Argentina is seeing a rise in digital wallets. Chile and Colombia remain credit card-dominated, but alternative payments are expanding.
Alternative Payments and Cryptocurrency Surge
Credit and debit cards made up over 60% of transactions in 2023, but alternative methods are rising. Real-time payments, A2A transfers, and digital wallets offer faster, lower-cost options. Cryptocurrency adoption has doubled, surpassing 55 million in 2024. Argentina leads within Latin America, with nearly 20% of its population holding crypto, followed by Brazil and Venezuela.
Key Questions Answered:
- What is the projected size of Latin America's digital commerce market by 2026?
- How do consumer payment preferences vary across Latin American countries, and why?
- What percentage of Brazil's E-Commerce transactions were processed via Pix in 2024?
- Which Latin American country has the highest cryptocurrency adoption rate?
- How does the rise of real-time payments impact traditional banking in Latin America?
Company Coverage:
- Boleto Bancario
- Pix
- PagoEfectivo
Key Topics Covered:
1. Key Takeaways - Report Summary
2. Management Summary
3. Latin America Payments Market Overview
3.1. Key Takeaways - Latin America Payments Market
3.2. Market Overview: Payments
- Payments Revenue, in USD trillion, 2017 & 2020-2022 & 2027f
- Share of Payment Revenue Value, in %, 2027f
- Payments Revenue Value, in USD trillion, 2013, 2018, 2020- 2023
- Payments Market Growth by Global Region, CAGR (%), 2022 - 2027f
- Payments Market Revenue Share by Global Region, in %, 2027f
- Payment Mix by New Payments and Traditional Payments, in % of Transaction Volume, 2023
- Total Non-Cash Transactions, in billions of Transactions, 2018 & 2021-2024e & 2028f
- Total B2B Non-Cash Transactions, in billions of Transactions, 2018 & 2021-2024e & 2028f
- Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023
- Breakdown of Total Payments Revenue, Commercial & Consumer in %, 2023
4. Digital Payment Adoption, Consumer Behavior, & Emerging Trends in Latin America
4.1. Key Takeaways - Latin America Digital Payment Adoption & Consumer Behavior
4.2. Market Overview: Digital Payment Adoption & Consumer Behavior
- Preferred Payment Methods for In-Person Purchases, by Country, in % of Respondents, 2023
- Breakdown of Preferred Payment Method for In-Person Purchases, in % of Respondents, 2021 & 2023
- Reasons for Using Debit and Credit Cards in Latin America, % of Respondents, 2023
- Top Reasons for Digital Payment Adoption, in % of Respondents from High Mobile-Payment Penetration Countries, 2023
- Key Factors Driving Digital Payment Adoption in Low Mobile-Payment Adoption Countries, % of Respondents, 2023
- Share of Consumers that Use Smartphone Payments for In-Person Transactions at least once a month, in %, 2024
- Number of Cryptocurrency Owners, in millions, 2023 & 2024e
- Share of Population That Owns Cryptocurrency by Country, in %, 2024e
5. Digital Commerce & E-Commerce Payment Trends in Latin America
5.1. Key Takeaways - Latin America Digital Commerce & E-Commerce Payment
5.2. Market Overview: Digital Commerce & E-Commerce Payment
- Digital Commerce Market Size, in USD billion, 2020-2026f
- Retail E-Commerce Share, in % of Total Retail Sales, 2022-2028f
- Retail E-Commerce Sales, in USD billion, in % of Year-on-Year Change, 2022-2028f
- E-Commerce Payment Method Market Share, in %, 2023
- Share of E-Commerce Payment Methods, in %, 2024
6. Latin America Country-Specific Payment Methods Insights
6.1. Key Takeaways - Latin America Country-Specific Payment Methods
6.2. Brazil
- Pix Payment Volume, in USD trillion, 2021-2024 (Through June)
- Number of Pix Transactions, in billions, 2021-2024 (Through June)
- E-Commerce Payment Methods by Market Share, in %, 2023
- E-Commerce Payment Methods Market Share by Vertical, in %, 2023
- Share of Consumers Using Payment Methods Daily, in %, 2023
- E-Commerce Payment Methods by Market Share, in %, 2024
- Projected Online Payment Market Share by Method, in %, 2025f
6.3. Mexico
6.4. Argentina
6.5. Chile
6.6. Peru
6.7. Colombia
For more information about this report visit https://www.researchandmarkets.com/r/211ja1
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