Global Compendium 2025: Volume 5 Latin America Digital Commerce & Payments in the Age of Al, 2026

Description

Digital Commerce Expansion, Instant Payments Growth, and AI Adoption Reshape Latin America's Retail and Financial Services in 2026

Latin America's Digital Commerce Expansion Strengthens Regional Market Structure

Latin America's digital commerce ecosystem continues to grow, driven by rising mobile usage, expanding transaction volumes, and the increasing importance of E-Commerce within retail. Market activity remains concentrated, with Argentina, Brazil, and Mexico generating over 80% of regional retail E-Commerce sales in 2025. Internet penetration in leading markets such as Chile and Peru is nearing saturation, supporting sustained participation in digital channels.

Instant Payments and Fintech Accelerate Structural Shift in Payments Landscape

The payments sector is experiencing a rapid shift toward digital-first transaction models as instant payment systems and fintech services expand. Payments revenue is expected to triple by 2027, while non-cash transaction volumes are projected to grow at more than +20% CAGR through 2028, surpassing 340 billion transactions. Although cards remain dominant, instant payments and credit transfers continue to gain momentum, with Brazil's Pix system increasingly shaping both online and in-store payments.

AI Integration Advances Amid Rising Fraud and Enterprise Transformation

AI adoption across Latin America's payments and E-Commerce industries is accelerating, driven by heightened fraud pressures, evolving regulation, and enterprise digital transformation efforts. Financial institutions and fintech firms are expanding AI use across fraud prevention, customer engagement, credit analysis, and operational optimization. While AI adoption now exceeds global averages in several functional areas, infrastructure limitations and workforce constraints continue to shape implementation trajectories.

Product Code: 1709

1. Key Takeaways

2. Management Summary

3. Latin America: Digital Commerce Landscape

3.1. Latin America Market Size, Growth & Regional Expansion
- Latin America: Digital Commerce Market Size, in USD billion, 2020-2026f
- Latin America: Retail E-Commerce Share, in % of Total Retail Sales, 2022-2028f
- Latin America: Retail E-Commerce Sales, in USD billion, in % of Year-on-Year Change, 2022-2028f
- Latin America: Online Retail Sales and E-Commerce Share, in USD billion and %, 2023 & 2028f
- Latin America: Total E-Commerce Transaction Volume, in USD bn, and Y-o-Y Growth in % of Transaction Volume, 2021-2027f
3.2. Latin America Market Structure, Concentration & Connectivity
- Latin America: Retail E Commerce Sales Share of Argentina, Brazil, and Mexico vs. Rest of Region, in %, 2025
- Latin America: Internet Users, by Selected Countries, in % of Total Population, 2024 & 2026f
- Mexico & U.S: E-commerce Share of Total Retail Sales, in % of Total Retail Sales, 2026f
- Mexico: B2C E-Commerce GMV Forecast, in USD billion, 2025 & 2030f, CAGR 2025 - 2030
3.3. Latin America Cross-Border Dynamics & Global Competitive Pressure
- Latin America: Cross-Border Payments and E-Commerce, December 2025
- Latin America: Consumer Favorability Toward Chinese E-Commerce Brands, in % of Consumers Surveyed, 2025
- Latin America: Likelihood of Buying from an E-Commerce Website Without Local Currency or Alternative Payment Methods, in % of Consumers Surveyed, 2025
- Latin America: Perceived Benefits of Global Retail Expansion, in % of Consumers Surveyed, 2025
- Latin America: Most Important Factors in Online Product Comparisons, in % of Consumers Surveyed, 2025
3.4. Latin America Platforms, Business Models & Market Leadership
- Latin America: B2C E-Commerce Player Overview, December 2025
- Brazil: Share of E-Commerce Transactions by Business Model, in %, 2024
- Brazil: Market Share of Leading E-Commerce Platforms, in % of total E-Commerce Sales, 2025
- Brazil: Gen Z Consumers' Reported Purchases by Product Category, in %, 2025
3.5. Latin America Country Spotlights Consumer Behavior, Devices & Product Demand Structure
- Brazil: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Mexico: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Colombia: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Argentina: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Chile: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Peru: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Guatemala: E-Commerce Transaction Volume by Device, in % of Total E-Commerce Volume, 2024
- Mexico: E-Commerce Product Categories, in % of Sales Year-on-Year Growth, Q3 2024
- Peru: E-Commerce Product Categories, in % of Sales Year-on-Year Growth, 2023

4. Latin America: Payments Landscape Overview

4.1. Latin America Payments Market Size & Infrastructure
- Latin America: Payments Revenue, in USD trillion, 2017 & 2020-2022 & 2027f
- Latin America: Share of Payment Revenue Value, in %, 2027f
- Latin America: Payments Revenue Value, in USD trillion, 2013, 2018, 2020- 2023
- Latin America: Payments Market Growth by Global Region, CAGR (%), 2022 - 2027f
- Latin America: Payments Market Revenue Share by Global Region, in %, 2027f
- Latin America: Payment Mix by New Payments and Traditional Payments, in % of Transaction Volume, 2023
- Latin America: Share of Merchants Accepting Selected Payment Methods, in %, 2025
- Latin America: Total Non-Cash Transactions, in billions of Transactions, 2018 & 2021-2024e & 2028f
- Latin America: Total B2B Non-Cash Transactions, in billions of Transactions, 2018 & 2021-2024e & 2028f
- Latin America: Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023
- Latin America: Breakdown of Total Payments Revenue, Commercial & Consumer in %, 2023
4.2. Latin America Consumer Payment Behavior & Adoption
- Latin America: Preferred Payment Methods for In-Person Purchases, by Country, in % of Respondents, 2023
- Latin America: Breakdown of Preferred Payment Method for In-Person Purchases, in % of Respondents, 2021 & 2023
- Latin America: Reasons for Using Debit and Credit Cards in Latin America, % of Respondents, 2023
- Latin America: Top Reasons for Digital Payment Adoption, in % of Respondents from High Mobile-Payment Penetration Countries, 2023
- Latin America: Key Factors Driving Digital Payment Adoption in Low Mobile-Payment Adoption Countries, % of Respondents, 2023
- Latin America: Share of Consumers that Use Smartphone Payments for In-Person Transactions at least once a month, in %, 2024
- Latin America: Main Barriers to Online Payments, in % of Consumers Surveyed, 2025
- Latin America: Importance of Accessible Payment Options for Online Purchases, in % of Consumers Surveyed, 2025
- Latin America: E-Commerce Payment Method Market Share, in %, 2023
- Latin America: Share of E-Commerce Payment Methods, in %, 2024
- Latin America: Number of Cryptocurrency Owners, in millions, 2023 & 2024e
- Latin America: Share of Population That Owns Cryptocurrency by Country, in %, 2024e (1 of 3)
- Latin America: Share of Population That Owns Cryptocurrency by Country, in %, 2024e (2 of 3)
- Latin America: Share of Population That Owns Cryptocurrency by Country, in %, 2024e (3 of 3)
4.3. Latin America Country Spotlights Payment Methods Insights
- Brazil: Pix Payment Volume, in USD trillion, 2021-2024 (Through June)
- Brazil: Number of Pix Transactions, in billions, 2021-2024 (Through June)
- Brazil: E-Commerce Payment Methods by Market Share, in %, 2023
- Brazil: E-Commerce Payment Methods Market Share by Vertical, in %, 2023
- Brazil: Share of Consumers Using Payment Methods Daily, in %, 2023
- Brazil: E-Commerce Payment Methods by Market Share, in %, 2024
- Brazil: Projected Online Payment Market Share by Method, in %, 2025f
- Brazil: E-Commerce Market Share by Payment Method, in %, 2024
- Brazil: A2A Payments Share, in % of E-Commerce Spend, 2020, 2023 & 2027f
- Mexico: E-Commerce Payment Methods by Market Share, in %, 2023
- Mexico: E-Commerce Payment Methods by Market Share, in %, 2024
- Mexico: A2A Payments Share, in % of E-Commerce Spend, 2020, 2023 & 2027f
4.3. Latin America Country Spotlights Payment Methods Insights (Cont.)
- Colombia: E-Commerce Payment Methods by Market Share, in %, 2023
- Colombia: E-Commerce Payment Methods by Market Share, in %, 2024
- Chile: E-Commerce Payment Methods by Market Share, in %, 2023
- Chile: E-Commerce Payment Methods by Market Share, in %, 2024
- Chile: A2A Payments Share, in % of E-Commerce Spend, 2020, 2023 & 2027f
- Argentina: E-Commerce Payment Methods by Market Share, in %, 2023
- Argentina: E-Commerce Payment Methods by Market Share, in %, 2024
- Argentina: A2A Payments Share, in % of E-Commerce Spend, 2020, 2023 & 2027f
- Peru: E-Commerce Payment Methods by Market Share, in %, 2023
- Peru: E-Commerce Payment Methods by Market Share, in %, 2024

5. Latin America: AI & Automation in Commerce

5.1. AI Adoption & Seller Readiness in Latin America
- 5.1.1. Regional
- Latin America & Global: AI Adoption by Enterprise Use Cases, in % of Respondents, 2024
- Latin America & Global: Perceived Business Impact of Generative AI, in % of Companies, 2023 & 2024
- Latin America & Global: AI Delivery Team Implementation, in % of Companies, 2023 & 2024
- Latin America & The Caribbean: Job Categories by Exposure to GenAI, in % of Respondents, April 2025
- Latin America & The Caribbean: Job Categories by Productivity Potential from GenAI, in % of Resp., Apr 2025
- Latin America & The Caribbean: Job Categories by Automation Risk from GenAI, in % of Resp., April 2025
- Latin America & The Caribbean: Workforce Distribution by GenAI Exposure, in % of Resp., April 2025
- Latin America & The Caribbean: Infrastructure, Computing, Server, and Data Ecosystem Gaps for AI Adoption, Aug 2025
- Latin America & The Caribbean: AI Talent Shortages, Education Pipeline Weaknesses, and Firm-Level Adoption Gaps, Aug 2025
- Latin America: Share of Organizations Using AI Tools Across Business Functions, in % of Resp., 2024
- Latin America: Perceived Impact of AI Tools Across Business Functions, in % of Respondents, 2024
- Latin America: Adoption of AI-Based Business Solutions, in % of Companies, Jan 2025
- Latin America: Stage of AI Adoption in Organizations, in % of Respondents, 2025
- Latin America: Approaches to AI Capability Development, in % of Respondents, 2025
- Latin America: Share of Latitud Fellowship Companies Identifying as AI-centric or AI-enabled, in % of Resp., 2022-2023 & H1 2024
- Latin America: Founders' Views on AI Transformative Force for Business and Society, in % of Resp., 2024
- Latin America: Founders' Expectations of AI Impact on Cost Reduction and Revenue Growth, in % of Resp., 2024
- Latin America: Founders' Perceptions of AI Market Expectations, in % of Respondents, 2024
- Latin America: Founders' Views on AI Hype and Investor Overexpectations, in % of Respondents, 2024
- Latin America: Generative AI Adoption in Tech Companies, in % of Respondents, 2024
- Latin America: Adoption of AI Frameworks by Provider, in % of Respondents, Mar-Apr 2025
- Latin America: Number of AI Frameworks Adopted, in % of Respondents, Mar-Apr 2025
- Latin America: Expected Impact of AI on Workforce, in % of Respondents, Mar-Apr 2025
- Latin America: Main Drivers of AI Adoption, in % of Respondents, Jan 2025
- Latin America: Main Drivers of Excitement About AI Adoption, in % of Respondents, 2025
- Latin America: Good Understanding of AI by Country, in % of Respondents, Aug-Sep 2024
- Latin America: Use of AI Tools in Daily Life by Country, in % of Respondents, Aug-Sep 2024
- Latin America: AI Opportunity in Service Exports, Investment Gap, Export Lag, and Skills Gap, Aug 2025
- Latin America: Main Challenges to AI Implementation, in % of Respondents, 2024
- Latin America: Main Obstacles to AI Adoption, in % of Respondents, Jan 2025
- Latin America: Leading Barriers to AI Adoption, in % of Respondents, Mar-Apr 2025
- Latin America: Barriers to AI Exploration, in % of Respondents, 2025
- Latin America: Key Areas of Support Needed for AI Adoption, in % of Respondents, Mar-Apr 2025
- 5.1.2. Country Spotlights
- Brazil: Population Familiarity with AI, in % of Respondents, 2024
- Brazil: Corporate Perceptions of AI for Automation and Efficiency, in % of Respondents, Jan 2025
- Mexico: Corporate Perceptions of AI for Automation and Efficiency, in % of Respondents, Jan 2025
- Colombia: Corporate Perceptions of AI for Automation and Efficiency, in % of Respondents, Jan 2025
- Chile: Corporate Perceptions of AI for Automation and Efficiency, in % of Respondents, Jan 2025
- Argentina: Corporate Perceptions of AI for Automation and Efficiency, in % of Respondents, Jan 2025
- Brazil: Corporate Expectations of AI's Impact on Industry, in % of Respondents, Jan 2025
- Mexico: Corporate Expectations of AI's Impact on Industry, in % of Respondents, Jan 2025
- Colombia: Corporate Expectations of AI's Impact on Industry, in % of Respondents, Jan 2025
- Chile: Corporate Expectations of AI's Impact on Industry, in % of Respondents, Jan 2025
- Argentina: Corporate Expectations of AI's Impact on Industry, in % of Respondents, Jan 2025
- Brazil: Expected Timeline of Results from AI Strategies, in % of Respondents, Jan 2025
- Mexico: Expected Timeline of Results from AI Strategies, in % of Respondents, Jan 2025
- Colombia: Expected Timeline of Results from AI Strategies, in % of Respondents, Jan 2025
- Chile: Expected Timeline of Results from AI Strategies, in % of Respondents, Jan 2025
- Argentina: Expected Timeline of Results from AI Strategies, in % of Respondents, Jan 2025
- Brazil: AI Investment Plans, in % of Respondents, Jan 2025
- Mexico: AI Investment Plans, in % of Respondents, Jan 2025
- Colombia: AI Investment Plans, in % of Respondents, Jan 2025
- Chile: AI Investment Plans, in % of Respondents, Jan 2025
- Argentina: AI Investment Plans, in % of Respondents, Jan 2025
5.2. Operational Applications and Economic Impact of AI in Latin America
- Latin America: Productivity Gains from AI Adoption, in % of Respondents, 2025
- Latin America: Benefits of AI Adoption, in % of Respondents, Jan 2025
- Latin America: Business Functions of AI Implementation, in % of Respondents, Jan 2025
- Latin America: Use of AI Technologies in Daily Operations, in % of Respondents, 2025
- Latin America: FinTech Sector Growth as a Foundation for AI-Enabled Payments, in Number of Comp., 2017 & 2023
- Latin America: FinTech Concentration and AI Readiness Potential by Country, in % of Total Fintech Comp., 2024
- Latin America: Count. with the Highest Growth in Fintech Startups and AI Innovation Potential, in % of Comp., 2022-2024
- Latin America: Blockchain Tokenization, AI Monitoring, and Customer-Centric Banking Innovations, Sep 2025
5.3. AI Risk, Trust, Security and Governance in Latin America
- 5.3.1. Regional
- Latin America & The Caribbean: Absorptive Capacity, Readiness Gaps, and Global Positioning in AI Adoption, Aug 2025
- Latin America & The Caribbean: Opportunities and Risks of AI Adoption for Economic, Social, and Technological Development, Aug 2025
- Latin America & The Caribbean: Responsible AI Initiatives, Policy Challenges, Regulatory Needs, and Data Governance Gaps, Aug 2025
- Latin America & Mexico: Cybercrime Attempts and AI Professional Shortages in Millions, Oct 2024
- Latin America: Fraud Challenges, Costs, AI Detection Tools, and Partnerships in Digital Payments, Sep 2025
- Latin America: Biggest Risks to AI Deployment in Startups, in % of Respondents, 2025
- Latin America: AI and Intensified Inequality by Country, in % of Respondents, Aug-Sep 2024
- Latin America: Support for Government Regulation of AI by Country, in % of Respondents, Aug-Sep 2024
- Latin America: AI Bills with Principle-Based Rights, Risk Classification, and Compliance Obligations, Sep 2025
- Latin America: AI Proposals with Governance Councils, Regulatory Sandboxes, and SME Support, Sep 2025
- Latin America: Regulatory Gaps, Local Frameworks, Regional Coordination, and AI Governance, Sep 2025
- Latin America: Regulatory Progress, Governance, Institutional Gaps, and Regional Cooperation in AI, Sep 2025
- Latin America: Perceived Country Preparedness to Face AI Challenges, in % of Respondents, Aug-Sep 2024
- South America: Average Government AI Readiness in Data and Infrastructure, in Index Value, 2023 & 2024
- 5.3.2. Country Spotlights
- Brazil: Comfort Levels in Sharing Personal Data with AI Tools, in % of Respondents, 2024
- Brazil: Public Readiness for Data Sharing with AI and Traditional Inst., in % of Resp. Comfortable Sharing Data, 2024
- Brazil: Planned AI Training Investments for Teams, in % of Respondents, Jan 2025
- Mexico: Planned AI Training Investments for Teams, in % of Respondents, Jan 2025
- Colombia: Planned AI Training Investments for Teams, in % of Respondents, Jan 2025
- Chile: Planned AI Training Investments for Teams, in % of Respondents, Jan 2025
- Argentina: Planned AI Training Investments for Teams, in % of Respondents, Jan 2025
- Brazil: Workforce with AI Hiring Focus, in % of Respondents, Jan 2025
- Mexico: Workforce with AI Hiring Focus, in % of Respondents, Jan 2025
- Colombia: Workforce with AI Hiring Focus, in % of Respondents, Jan 2025
- Chile: Workforce with AI Hiring Focus, in % of Respondents, Jan 2025
- Argentina: Workforce with AI Hiring Focus, in % of Respondents, Jan 2025
- Brazil: Importance of Sustainability in Implementing AI Solutions, in % of Respondents, Jan 2025
- Mexico: Importance of Sustainability in Implementing AI Solutions, in % of Respondents, Jan 2025
- Colombia: Importance of Sustainability in Implementing AI Solutions, in % of Respondents, Jan 2025
- Chile: Importance of Sustainability in Implementing AI Solutions, in % of Respondents, Jan 2025
- Argentina: Importance of Sustainability in Implementing AI Solutions, in % of Respondents, Jan 2025
- Brazil: Government AI Readiness in Data and Infrastructure, in Index Value, 2023 & 2024
5.4. AI Competitive Landscape, Investment Dynamics, and Scaling Patterns in Latin America
- Latin America: AI Adoption by Approach in Startups, in % of Respondents, Mar-Apr 2025
- Latin America: AI Adoption Levels and Revenue Contribution from AI-Powered Products, in % of Resp., Mar-Apr 2025
- Latin America: Share of AI Leaders' Revenues Attributable to AI-Powered Products, in % of Resp., Mar-Apr 2025
- Latin America: Median Revenue Growth of AI and Non-AI Companies Across Income Bands, in % of Resp., Mar-Apr 2025
- Latin America: Top-Quartile Revenue Growth of AI and Non-AI Companies Across Income Bands, in % of Resp., Mar-Apr 2025
- Latin America: Funding Status of Startups and AI Share of Funded Firms, in % of Resp., Mar-Apr 2025
- Latin America: AI Adoption Across Application Areas Among Startups, in % of Respondents, Mar-Apr 2025
- Latin America: Number of AI Use Cases Implemented Per Startup, in % of Respondents, Mar-Apr 2025
- Latin America: Areas of AI Use in Startup Operations, in % of Respondents, 2025
- Latin America: Use of AI Models in Startups, in % of Respondents, 2025
- Latin America: Share of Startups Measuring ROI on AI Investments, in % of Resp., Mar-Apr 2025
- Latin America: Metrics of ROI on AI Investments Among Startups, in % of Respondents, Mar-Apr 2025
- Latin America: AI ROI Measurement Metrics, in % of Respondents, 2025
- Latin America: Ownership of AI Leadership Roles in Startups, in % of Respondents, Mar-Apr 2025
- Latin America: AI/ML Cloud Workload Distribution by Provider, in % of Respondents, Mar-Apr 2025
- Latin America: Number of Cloud Providers Used for AI/ML Workloads, in % of Respondents, Mar-Apr 2025
- Latin America: LLM Adoption by Provider and Number of Models Deployed, in % of Resp., Mar-Apr 2025
- Latin America: VC Investment Likelihood for AI-Core Startups, in % of Respondents, 2024 & 2025
- Latin America: Barriers to VC Support for Portfolio AI Deployment, in % of Respondents, 2025
- Latin America: Internal AI Use Cases Among VC Firms, in % of Respondents, 2023 & 2025
- Latin America: Internal AI Application Usage by VC Firms, in % of Respondents, 2025