Market Research Report
Latin America Online Payment Methods 2020 & COVID-19's Impact
|Published by||yStats.com GmbH & Co. KG||Product code||934256|
|Published||Content info||87 Pages/Charts
Delivery time: 1-2 business days
|Latin America Online Payment Methods 2020 & COVID-19's Impact|
|Published: April 28, 2020||Content info: 87 Pages/Charts||
"Coronavirus affects digital payments development in Latin America."
Since the outbreak of the COVID-19 pandemic, online purchase transactions have been on the rise in countries including Brazil and Mexico, according to information included in the yStats.com report. In Chile, online card payments for goods and services more than doubled at the end of March 2020 compared to the same period in 2019. However, as the travel sector and in-store purchases are negatively affected by the pandemic, the global trend is that total payments revenues would decline in 2020, but return to growth in 2021.
Bank card was the leading E-Commerce payment method payment method in Latin America. It outranked alternative payment means such as cash on delivery, in-store payments and bank transfers in Argentina, Brazil, Colombia, Mexico, and other countries covered in the yStats.com report. Digital payments solutions are also gaining traction. For example, payment transactions processed by Mercado Pago surged by more than +50% in 2019, with more than half of this volume processed outside of the E-Commerce marketplace operated by Mercado Libre.
Alphabet Inc, Cielo, Mercadolibre Inc, Pagseguro Digital Ltd, PayPal Holdings Inc, Samsung Co. Ltd., Walmart Inc.