One region, many realities: Navigating Latin America’s payments landscape

GlobalData

Tue, May 19, 2026 at 8:38 AM EDT 5 min read

Latin America has emerged as one of the most dynamic and promising regions in the global payments ecosystem. With a population of more than 660 million people and rapidly accelerating digital adoption, Latin America has become a strategic priority for global businesses expanding internationally.
However, while the opportunity is clear, execution remains complex. Latin America is a collection of distinct payments ecosystems, each shaped by its own economic realities, regulatory frameworks, and consumer preferences. Success in the region requires a country-by-country mindset.

Why Latin America is on global expansion roadmaps

Several structural trends are driving Latin America’s rise as a global growth destination.

E-commerce continues to expand at double-digit rates across many markets, fuelled by increased internet access and mobile-first consumer behaviour. At the same time, a growing middle class is gaining purchasing power, while younger, digitally native consumers are accelerating the shift toward online and mobile payments.

This transformation is reflected in the rapid growth of digital payments. Transaction volumes are projected to reach $0.3tn by 2027, growing at over 10% annually since 2022. In e-commerce, the shift has been even more pronounced: digital payments now account for 48% of all online transactions and are projected to account for 66% by 2030.

Financial inclusion is also improving. Millions of consumers are now accessing real-time payment systems and alternative financial services. More than 64% of the region’s population uses mobile internet, and around 60% rely on mobile wallets or payment apps for everyday transactions.

Even in the context of economic volatility, these trends are creating a compelling proposition: a large, fast-evolving market with significant untapped potential. For global merchants, the question is no longer whether to “enter” Latin America, but how to do so effectively.

Despite its regional label, Latin America is far from homogeneous. Payment ecosystems vary significantly from country to country, requiring tailored strategies rather than broad assumptions.

Brazil, for example, has become a global reference point for real-time payments, with Pix transforming everyday transactions. It is now the most widely used payment method in the country, with nearly 170 million users and annual transaction volumes exceeding BRL15tn. Across the region, other markets are advancing similar initiatives to modernise payment infrastructure and reduce reliance on cash, such as CoDi in Mexico.