Features
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eCommerce growth
The number of eCommerce users in Latin America and the Caribbean is expected to reach 387.67 million by 2027*. * Source: Statista, 2023
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Growing digitization
Mobile internet penetration in Latin America is forecast to reach 67% of the population, leading to a digital payments revolution in the region*. * Source: Statista, 2023
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Alternative payment methods
Whether due to a large unbanked population or even cultural reasons, alternative payment methods reign in Latin America.
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Installments preference
With some differences in each country, installment payments are highly preferred by Latin American customers.
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Select a country
Select a countryCountry List
Argentina
Bolivia
Brazil
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Honduras
Mexico
Nicaragua
Panama
Paraguay
Peru
Dominican Republic
Uruguay
Argentina
Argentina responds very well to payment innovation, with a penetration rate of 95% for fintech and banking*.
* Source: AMI, 2022
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Credit and debit cards
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Visa
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Mastercard
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Nativa
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Tarjeta Shopping
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Cabal
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Naranja
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Argencard
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Maestro
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American Express
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Wallets
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MODO
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Cash-based payments
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Rapipago
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Pago Fácil
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Cobro Express
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Bank Transfers
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Itaú
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Citi
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HSBC
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Credicoop
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Macro
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Banco Nación
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Galicia
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Santander
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BBVA
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Regular Bank Transfers
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QR Payment
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NaranjaX
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Interoperable QR
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Bolivia
Bolivia's eCommerce market is small but aiming to grow along with over 7.5 million internet users. With a population of 11.59 million, 51% hold a bank account with a financial institution, but only 7,2% of them have a credit card, and yet 9% have made online purchases.
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Credit and debit cards
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Visa
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Mastercard
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Cash-based payments
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Pago al paso
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QR Payment
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Vpay
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Brazil
Digitally advanced and with a wide range of online consumers, Brazil is the birthplace of successful real-time payments in Latin America.
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Credit and debit cards
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Visa
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Mastercard
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Maestro
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American Express
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JCB
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Discover
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Aura
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Hipercard
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Elo
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Mercado livre
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Wallets
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PicPay
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MercadoPago
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nupay
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Cash-based payments
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Boleto Bancario
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Bank Transfers
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Itaú
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Santander
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Regular Bank Transfers
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Mercadopago
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PicPay
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PIX
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Caixa
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Bradesco
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Banco do Brazil
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PIX
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Pix
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Chile
In recent years Chile has shown impressive economic growth, directly impacting the business opportunities in the country.
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Credit and debit cards
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Visa
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Mastercard
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American Express
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Diners
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Lider
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Magna
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CMR Falabella
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MACH
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Red Compra
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Wallets
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MercadoPago
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Cash-based payments
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Sencillito
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Servipag
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Bank Transfers
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Itaú
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Santander
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BBVA
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Regular Bank Transfers
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Mercadopago
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Scotiabank
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Banco Falabella
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Khipu
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WebPay Red compra
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Transbank
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Colombia
Colombia’s Gross Domestic Product (GDP) is expected to steadily grow 1.8% in 2024, proving that Colombia can represent excellent opportunities for eCommerce in Latin America*.
*Source: OECD, 2023
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Credit and debit cards
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Visa
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Mastercard
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American Express
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Diners
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Codensa
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Wallets
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MercadoPago
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Nequi
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Cash-based payments
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Efecty
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Bancolombia
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Baloto
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Carulla
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Puntored
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Bank Transfers
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Regular Bank Transfers
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PSE
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Bancolombia
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Costa Rica
Costa Rica With a population of 5 million and over 1 million eShoppers, Costa Rica has an eCommerce market of $2.3B. Cross border transactions account for 77% of the eCommerce volume. Although eCommerce is projected to shrink 22% in 2020 due to the current pandemic, it is expected to recover in 2021 with a 39% YoY growth.
DLOCAL COSTA RICA, SRL posee todos los permisos de funcionamiento requeridos para operar dentro del territorio costarricense. Dado a lo anterior, y en seguimiento al artículo 24 de la Normativa SGF-11-18 de Superintendencia General de Entidades Financieras (en adelante, la “SUGEF”) se indica: Advertencia: se advierte al público que DLOCAL COSTA RICA es supervisada solamente en materia de prevención de legitimación de capitales, financiamiento al terrorismo y financiamiento de la proliferación de armas de destrucción masiva, y además se encuentra sujeta a disposiciones vinculantes de la Unidad de Inteligencia Financiera del Instituto Costarricense sobre Drogas. Por lo tanto, la SUGEF no supervisa en materia financiera a DLOCAL COSTA RICA, ni los negocios que ofrece, ni su seguridad, estabilidad o solvencia.
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Credit and debit cards
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Visa
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Mastercard
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American Express
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Diners
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JCB
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Discover
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Cash-based payments
Learn more-
PayCash
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BN Servicios
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Bank Transfers
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Sinpe
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Sinpe Móvil
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Ecuador
eCommerce in Ecuador is still relatively small. Similar to other markets in LATAM, the main reason for consumers not buying online is the lack of trust. However, new technology and information available are shifting people’s behavior, feeling more confident with putting their payment information online, and taking the market to the expected $1.2B in 2020. One particularity that makes this market different is that the main currency is US dollars.