DUBLIN--(BUSINESS WIRE)--The "Latin America Online Payment Methods 2022" report has been added to ResearchAndMarkets.com's offering.
Credit and debit cards at the top of B2C E-Commerce payments in Latin America
According to the latest data included in the report, credit cards remain the leading payment method used by online shoppers across Latin America. Domestic and international credit cards together account for more than one-half of online retail payments in the region, driven by 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 the growth rate, however, alternative payment means such as digital wallets and bank transfers outpace cards across the region. Online payments by bank transfer, for example, more than doubled between 2020 and 2021. Other leading alternative payment means include digital wallets and cash-based payment services. Although the use of cash 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 are yet to catch up with markets such as China and the U.S. in terms of in-store mobile payment usage. One in five smartphone users in Brazil made mobile payments at the point of sale in 2021, and even fewer in Mexico. Over the next few years, however, mobile payment usage in the region is projected to surge with hundreds of millions of consumers adopting mobile wallets and bringing Latin America the third rank worldwide by the number of mobile wallet users by 2025.
Key Topics Covered:
1. Management Summary
2. Global Developments
- Online & Mobile Payment Trends, May 2022
- Payment Value, by E-Commerce Payments and POS Payments, in USD trillion, 2021 & 2026f
- Share of Cash Payments, in % of Total POS Transaction Value, by Region, 2021 & 2025f
- Value of Contactless Card Transactions, in USD trillion, 2020 & 2021e
- Share of Contactless Card Transactions, in % of Overall Contactless Transaction Value, 2021e
- BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
- Number of BNPL Users, in millions, 2021e & 2026f
- BNPL Share of B2C E-Commerce Payments, in %, 2021e & 2026f
- Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
- Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
- Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
- Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020-2025f
- Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020-2025f
- Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e
- Cryptocurrency Payment Value, in USD billion, 2018-2023f
3. Latin America
3.1. Regional
3.2. Brazil
- Breakdown of Payment Methods in B2C E-Commerce, in % of Sales Volume, 2021
- Top Payment Methods Used in Mobile Shopping, in % of Mobile Shoppers, June 2021
- Value of Overall Card Payments, in BRL trillion, 2019-2021
- Value of Debit and Credit Card Payments, in BRL billion, 2020 & 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 & 2025f
- Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- Share of Online Transactions that PIX Users Pay by PIX, in %, 2021
- E-Commerce Transactions Paid with PIX, in % of Total E-Commerce Volume, 2024f
- Top Reasons Not to Use Mobile Payment App, in % of Consumers, June 2021
- Share of Respondents Who Suffered from Financial Fraud, in %, 2019 & 2021
3.3. Mexico
- E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year E-Commerce Payment Method Growth, in %, 2021e Breakdown of Online Card Payments by Debit and Credit Card, in %, Q1 2021
- Number of Real-Time Payment Transactions, in billions, 2020 & 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, in % of Cross-Border Online Shoppers, February 2021
- Payment Methods Used During Hot Sale 2021, in % of Online Shoppers, June 2021
- Buy Now Pay Later's Share of B2C E-Commerce Sales, in %, 2021 & 2025f
- Average Share of Mobile Fraud, in % of Total Fraud Losses Experienced by Retailers, 2019 & 2021e
3.4. Argentina
- Breakdown of B2C E-Commerce Sales by Payment Methods, in %, 2021
- Breakdown of B2C & C2C E-Commerce Sales by Payment Method, in %, 2020 & 2021
- Card Ownership, by Debit, Credit and Prepaid Cards, in % of Banked Internet Users, 2020 & 2021
- Top Payment Methods Used in the Past Month, in % of Banked Internet Users, 2020 & 2021
- Growth of QR Payment Methods, incl. Change in Number of Transactions, Invoices and Operators, in %, November 2021 Compared to September 2021
3.5. Colombia
3.6. Chile
3.7. Peru
For more information about this report visit https://www.researchandmarkets.com/r/i2vki9
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