The latest publication from Hamburg-based market research company, yStats.com, titled “Latin America Digital Commerce: Market Insights and Payment Innovations 2024” presents extensive insights into digital commerce trends in Latin America, covering B2C E-Commerce, Omnichannel commerce trends, digital payments, POS and online payment methods, BNPL schemes, fraud and security challenges in online payment, and in-car payments.
Latin America’s E-Commerce surge and payment innovations emerging trends
In Latin America, the B2C E-Commerce market is projected for significant growth, with forecasts indicating a surge of more than EUR 850 billion by 2026. These projections underscore Latin America’s emergence as a key player in the global digital marketplace. According to a recent estimation, credit cards emerged as the predominant payment method in the region’s B2C E-Commerce, accounting for over 40% of transactions, followed by Pix at around 10%. This demonstrates a remarkable expansion in digitalization and an evolving payment landscape in the region, characterized by diverse payment options catering to consumer preferences, as mentioned in the new yStats.com report.
The forecast for real-time payments in Latin America is equally promising, with a projected CAGR of around 30% between 2022 and 2027, reaching over 100 billion real-time payments by 2027. Real-time payments are anticipated to constitute more than 50% of total electronic payments in the region by 2027, signaling a fundamental shift towards faster transaction processing.
Latin America’s booming BNPL market and evolving real-time payment landscape
By 2025, in Latin America, Buy Now Pay Later (BNPL) services are projected to account for more than EUR 5 billion of the region’s total B2C E-Commerce payments value. Moreover, in Brazil, the BNPL gross merchandise volume is set to more than double from 2022 to 2028. As stated in the new yStats.com report, these figures highlight the increasing popularity of BNPL services as a flexible and accessible payment option for consumers. Furthermore, Brazil, a key player in the Latin American market, is expected to witness a boost in real-time payment transactions, with a CAGR projection of over 30% from 2022 to 2027. This reflects Brazil’s robust digital infrastructure and evolving consumer behavior towards real-time payment solutions.
As Latin America continues to embrace digital transformation, these forecasts underscore the region’s immense potential as a dynamic and rapidly evolving market for B2C E-Commerce and electronic payments.
