Latin America Online Payment Methods Market Analysis Report 2022 - Credit and Debit Cards at the Top of B2C E-Commerce Payments

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Sep 19, 2022, 06:00 ET

DUBLIN, Sept. 19, 2022 /PRNewswire/ -- 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.

Questions Covered in the report:

What were the top payment methods used by shoppers in Latin America to make purchases online?
Which payment trends are re-shaping Latin America's payments landscape post-pandemic?
What are the fastest-growing online payment methods in Argentina, Brazil and Mexico?
How do Brazil and Mexico rank vis-a-vis other countries worldwide in mobile payment usage?
What are the leading alternative online payment methods in Chile and Peru?

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

Online & Mobile Payment Trends, May 2022
Breakdown of Total E-Commerce Sales by Payment Methods, in %, 2021e
E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year E-Commerce Payment Method Growth, in %, 2021e
Card Ownership in Select Countries, by Card Type, in % of Banked Internet User Population, 2020 & 2021
Number of Digital-Only Banks, 2012-2021e
Number of Neobank Customers, in millions, 2016-2021e

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

Breakdown of B2C E-Commerce Sales by Payment Methods, in %, 2021e
Top Payment Methods Used in the Past Month, in % of Banked Internet Users, 2020 & 2021
Card Ownership, by Debit, Credit and Prepaid Cards, in % of Banked Internet Users, 2020 & 2021

3.6. Chile

Top Payment Methods Used, in % of B2C E-Commerce Purchases, 2021e
E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year E-Commerce Payment Method Growth, in %, 2021e
Share of Online Shoppers Using ServiPag, in %, January 2022
Top Payment Methods Used in the Past Month, in % of Banked Internet Users, 2020 & 2021

3.7. Peru

Breakdown of B2C E-Commerce Sales by Payment Method, in %, 2020 & 2021
E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year E-Commerce Payment Method Growth, in %, 2021e
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

For more information about this report visit https://www.researchandmarkets.com/r/1zmhnm

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