Latin America Digital Commerce: Market Insights and Payment Innovations 2024

Description

Real-time payments in Latin America are anticipated to exceed 100 billion transactions by 2027: according to the latest yStats.com report

Latin America's E-Commerce expansion and payment trends

Latin America's E-Commerce is experiencing a surge, with forecasts predicting substantial growth to surpass EUR 850 billion by 2026. This projection highlight Latin America's emergence as a key player in the global digital marketplace. Credit cards currently dominate the region's B2C E-Commerce transactions, accounting for over 40%, followed by Pix at approximately 10%. This indicates a notable expansion in digitalization and a changing payment landscape, offering diverse options to cater to consumer preferences, as outlined in the latest yStats.com report.

Real-time payments in Latin America are also anticipated to experience significant growth, with a projected CAGR of around 30% between 2022 and 2027, reaching over 100 billion real-time payments by 2027. These transactions are expected to constitute more than 50% of total electronic payments in the region by 2027, reflecting a shift towards faster and more efficient transaction processing.

Latin America's rapid growth of BNPL services and real-time payments

Latin America's Buy Now Pay Later market is booming, with services projected to contribute more than EUR 5 billion to the region's total B2C E-Commerce payments value by 2025. In Brazil, BNPL gross merchandise volume is set to more than double from 2022 to 2028. These figures underscore the increasing popularity of BNPL services as a flexible and accessible payment option for consumers.

Furthermore, Brazil's real-time payment transactions are expected to experience a CAGR of over 30% from 2022 to 2027, reflecting the country's robust digital infrastructure and evolving consumer behavior towards real-time payment solutions. As Latin America continues its digital transformation journey, these forecasts emphasize the region's vast potential as a dynamic and rapidly evolving market for B2C E-Commerce and electronic payments.

Product Code: 1655

1. Management Summary

2. Latin America Digital Commerce Overview

2.1. B2C E-Commerce
- 2.1.1. Latin America Regional
  - B2C E-Commerce Market Trends, March 2024
  - B2C E-Commerce Market Size, is USD billion, 2020-2026f
  - Retail E-Commerce vs Non-E-Commerce Sales Growth, in % of Year-On-Year Change, 2020-2027f
  - Breakdown of B2C E-Commerce Market Volume, by Sector, in %, 2023e
  - Cross-Border B2C E-Commerce Sales, is USD billion, 2020-2026f
  - Share of Cross-Border Making Up Total B2C E-Commerce Volume, in %, 2023e & 2026f
  - Domestic B2C E-Commerce Volume, is USD billion, 2022-2026f
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2023e
  - Number of New Shoppers, incl. "Online", by Country, in millions, 2030f
  - Most Important Factors When Shopping Online, in % of Online Shoppers, 2023e
  - Share of Respondents Who Have Purchased a Product Via Social Media Site, in %, 2023e
  - Share of Social Media Shoppers Who Purchased Directly On the Social Media Site, in %, 2023e
  - Share of Social Media Shoppers Who Purchased Via Social Media Through a Link Leading to Brand's Website, in %, 2023e
  - Breakdown of Top B2C E-Commerce Sites, by Type, in % of Online Shoppers, 2023e
  - B2C E-Commerce Player Overview, March 2024
  - Top B2C E-Commerce Websites in Selected Countries, by Visits in millions, Bounce Rate in %, Pages Per Visit, and Average Visit Duration, February 2024
- 2.1.2. Brazil
  - B2C E-Commerce Market Size, in USD billion, 2023e & 2026f
  - Share of Adults Who Made Online Purchases, in %, 2023e
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
  - Breakdown of B2C E-Commerce Sales, by Payment Method, in %, 2023e & 2026f
  - Breakdown of Most Recent Cross-Border Purchase Origin, by Country, in % of Online Shoppers, 2022
- 2.1.3. Mexico
  - B2C E-Commerce Market Size, in USD billion, 2023e & 2026f
  - Share of Adults Who Made Online Purchases, in %, 2023e
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
  - Breakdown of Most Recent Cross-Border Purchase Origin, by Country, in % of Online Shoppers, 2022
- 2.1.4. Colombia
  - B2C E-Commerce Market Size, in USD billion, 2023e & 2026f
  - Share of Adults Who Made Online Purchases, in %, 2023
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
- 2.1.5. Peru
  - B2C E-Commerce Market Size, in USD billion, 2023e & 2026f
  - Share of Adults Who Made Online Purchases, in %, 2023e
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
- 2.1.6. Chile
  - B2C E-Commerce Market Size, in USD billion, 2023e & 2026f
  - Share of Adults Who Made Online Purchases, in %, 2023e
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
  - Breakdown of Most Recent Cross-Border Purchase Origin, by Country, in % of Online Shoppers, 2022
- 2.1.7. Argentina
  - B2C E-Commerce Market Size, in USD billion, 2023e & 2026f
  - Share of Adults Who Made Online Purchases, in %, 2023e
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
  - Breakdown of Most Recent Cross-Border Purchase Origin, by Country, in % of Online Shoppers, 2022
2.2. Omnichannel Commerce Trends
- 2.2.1. Brazil
  - Share of B2C E-Commerce Shoppers Who Picked Up Their Most Recent Online Purchase In-Store or Curbside, in %, October 2022
  - Weekly Online Shopping Activities, in % of Internet Users, Q3 2022
  - Most Preferred B2C E-Commerce Delivery Options, in % of Online Shoppers, 2022
- 2.2.2. Mexico
  - Share of B2C E-Commerce Shoppers Who Picked Up Their Most Recent Online Purchase In-Store or Curbside, in %, October 2022
  - Weekly Online Shopping Activities, in % of Internet Users, Q3 2022

3. Emerging Trends in Latin America Digital Payments

3.1. Digital Payment Forecasts 2023-2027
- 3.1.1. Latin America Regional
  - Real-Time Payments Volume, in billions, 2022 & 2027f
  - Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- 3.1.2. Brazil
  - Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
  - Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
  - Share of Online Shoppers Who Paid for Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 3.1.3. Mexico
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 3.1.4. Argentina
  - Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
  - Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 3.1.5. Colombia
  - Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 3.1.6. Chile
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
3.2. Online Payment Methods
- 3.2.1. Latin America Regional
  - Online & Mobile Payment Trends, October 2023
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022e
  - Breakdown of Payment Methods Used for Streaming and Digital Goods Purchases, in %, 2022e
  - Breakdown of Online Travel Payments Volume, by Payment Method, in %, 2022e
  - Card Ownership in Select Countries, by Card Type, in % of Internet Users, 2021 & August 2022
  - Real-Time Payments Volume, in billions, 2022 & 2027f
  - Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- 3.2.2. Brazil
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022e
  - B2C E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year B2C E-Commerce Payment Method Growth, in %, 2022e
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Value of Overall Card Payments, in BRL trillion, 2021 & 2022
  - Value of Debit and Credit Card Payments, in BRL billion, 2021 & 2022
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 3.2.3. Mexico
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022e
  - B2C E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year B2C E-Commerce Payment Method Growth, in %, 2022e
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Share of Adults Who Have a Mobile Wallet and Have Used It in the Past Year, in %, 2022
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 3.2.4. Argentina
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Share of Adults Who Have a Mobile Wallet and Have Used It in the Past Year, in %, 2022
  - Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 3.2.5. Colombia
  - Breakdown of B2C E-Commerce Sales, by Payment Method, in %, 2022e
  - B2C E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year B2C E-Commerce Payment Method Growth, in %, 2022e
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 3.2.6. Chile
  - Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2022e
  - B2C E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year B2C E-Commerce Payment Method Growth, in %, 2022e
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 3.2.7. Dominican Republic
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Breakdown of Bank Card Operations Volume, by Channel, in %, August 2022 & August 2023
  - Breakdown of Bank Card Operations Value, by Channel, in %, August 2022 & August 2023
  - Number of Internet Banking Users, in millions, 2020-2022
- 3.2.8. Peru
  - Breakdown of B2C E-Commerce Sales, by Payment Method, in %, 2022e
  - E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year B2C E-Commerce Payment Method Growth, in %, 2022e
  - Share of Adults That Made a Digital Payment, in %, 2022
  - Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
3.3. POS Payment Methods
- 3.3.1. Latin America Regional
  - POS Methods Overview and Trends, June 2023
- 3.3.2. Brazil
  - Share of Respondents Using NFC Payments via Credit and Debit Cards, in %, Q1 2022 & Q1 2023
  - Most Used Payment Methods, in % of Respondents, September 2022
  - Most Desired Payment Method Respondents Intend to Use in the Next 12 Months, in % of Respondents, September 2022
- 3.3.3. Mexico
  - Most Used Payment Method For Purchases or Face-to-Face Payments in the Past week, in % of Internet Users, August 2022
  - Favorite Payment Method Among Respondents When it Comes to Face-to-Face Payments, in % of Internet Users, August 2022
- 3.3.4. Chile
  - Most Used Payment Method For Purchases or Face-to-Face Payments in the Past week, in % of Internet Users, August 2022
  - Preferred Payment Method Used For In-Store Purchases, in % of Respondents, August 2022
3.4. Buy Now Pay Later
- 3.4.1. Latin America Regional
  - Distribution of B2C E-Commerce Payment Methods, by Value, in USD billion, 2021-2022f & 2025f
  - Breakdown of Payment Methods, incl. "BNPL", by Country, in %, 2022e
  - Credit Card Installments vs BNPL Volume, by Country & Usage, in USD billion, 2022
  - Annual Growth of BNPL, by Countries, in % of Annual Growth, 2022e
- 3.4.2. Colombia
  - Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022
- 3.4.3. Brazil
  - Value of BNPL Payments, in USD billion, 2022-2023e
  - BNPL Gross Merchandise Value, in USD billion, 2022 & 2028f
  - Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022
  - BNPL Merchant Acceptance Rate, in %, January 2023
- 3.4.4. Mexico
  - Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022
  - Preferred Payment Methods Likely to be Used During HOT Sale, incl. "BNPL", in % of Buyers, April 2023
  - Breakdown of Buyers Who Were Aware About BNPL vs Those Who Were Aware and Used it, in %, April 2023
  - Share of Buyers Who Were Willing to Increase the Frequency of Purchases If Financing Without Card Was Available to Them, in %, April 2023
- 3.4.5. Chile
  - Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2022
- 3.4.6. Argentina
  - Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022
3.5. Fraud and Security in Online Payments
- 3.5.1. Latin America Regional
  - Fraud Detection and Prevention Market, incl. "Online Payment Fraud", in USD billion, 2024f & 2028f
  - Breakdown of Reasons Why Businesses Do Not Use Technology to Combat Fraud, incl. "Online Payment Fraud" in %, 2023e
3.6. In-Car Payment
- 3.6.1. Latin America Regional
  - Overview of In-Car Payment Solutions and Trends, May 2023