Transaction Trends

Why is LATAM Critical?
Latin America is an enormous, dynamic, and growing payments market. Innovation, market and competitive trends, and heady growth across its patchwork of markets offer lessons and opportunities for the global payments industry.

With a thriving $200 billion payments industry annual revenue, the region is not just significant but pivotal. Its payments markets are flourishing at a pace that eclipses established giants like the U.S. and Canada. For instance, while the latter regions observed healthy growths in 2022, LATAM’s card transactions surged by a staggering 33.9% and 29.3% year-over-year.

LATAM encourages an inclusive ecosystem, welcoming both domestic and international payment networks. This openness, combined with a generally good legal and institutional infrastructure, makes Latin America far more accessible than many other emerging markets.

Market Movements in LATAM
At the heart of LATAM’s payments ecosystem, traditional card networks hold strong. However, modern innovations like account-to-account (A2A) systems and digital wallets are steadily rising. An era of digitization has ushered in alternative payment methods, from tokens and digital wallets to email aliases, which enhance both convenience and security.

The power of mobile in shaping e-commerce is evident, with 56% of LATAM’s e-commerce value in 2022 being attributed to mobile payments. The influence of real-time payments is equally transformative, with nations from Argentina to Peru integrating such systems, often complemented by global giants like Mastercard Send and Visa Direct.

Brazil’s Pix system exemplifies this transformation. With an impressive 8.1 billion transactions in Q1 2023, it has outperformed traditional credit and debit card transactions, solidifying its position as a global frontrunner in real-time payments.

Similarly, Mexico showcases the dynamic nature of the LATAM market. While its real-time payment system SPEI has been in operation since 2004, recent innovations like CoDi in 2019 aim to make payments more user-centric.

E-commerce trends further highlight LATAM’s digital tilt, with mobile payments dominating in major markets like Brazil and Mexico. These trends are backed by a diversified portfolio of payment systems, ranging from international giants like Visa to local stalwarts like Boleto Bancário.

Why Attend ETA’s “Future of Payments in LATAM” Conference?
For companies looking to enter, partner, or expand their payments business in LATAM, the Electronic Transactions Association’s “Future of Payments in LATAM” isn’t just an event – it’s a goldmine. Whether you’re an existing player or eyeing entry into this thriving sector, this conference offers a deep dive into the region’s eclectic mix of payment systems, growth catalysts, and industry trends.

Meet with partners deep into LATAM and engage with region experts as they unpack insights into the transformative role of mobile, the challenges and opportunities with traditional and emergent processors, and the evolving regulatory landscape. Here, you’re not just attending a conference; you’re unlocking a world of opportunities in Latin America’s dynamic payments sector.

Link to event coming soon!