How digital payments and e‑commerce are gaining traction in Latin America

Driven by an increasing digital-savvy population, booming smartphone penetration, and local fintechs, Latin America is the current big thing for local and global e‑commerces that want to tap a market where e‑commerce is expected to grow 30% every year through 2025. Meanwhile, the expansion of digital payment solutions and the rise of new alternative payment methods, being localized or not, have truly transformed Latin Americans’ relationship with payments by giving to them the most important things: access and inclusion.

Beyond Borders Research

LatAm is the apple of e-commerce’s eye

Positively impacted by mobile commerce (which surpassed desktop’s purchases for the first time), retail digitization and access to alternative payment methods, Latin America has opportunities everywhere.

Latam Opportunity
Country Market size Annual growth
Brazil $156.2 41%
Mexico $49.6 41%
Colombia $18.9 32%
Argentina $17.1 40%
Chile $16.5 25
Peru $9.9 40%
Panama $4.2 40%
Uruguay $3.8 35%
Guatemala $3.6 60%
Ecuador $3.5 51%
Costa Rica $3.0 26%
Dominican Republic $2.5 26%
El Salvador $1.2 50%
Bolivia $0.6 111%
Paraguay $0.3 60%

Central America: the next sweet spot

Central America Map
Country Population (M) E-commerce penetration Market size (USD bn)
Costa Rica 5 69% $3.0
Panama 4.2 54% $4.2
Dominican Republic 10.7 49% $2.5
Guatemala 16.6 28% $3.6
El Salvador 6.4 20% $1.2
Latam Opportunity Table
Latam Opportunity Table
Latam Opportunity Chart
Latam Opportunity Chart

Payments Revolution

From digital wallets across the region to localized payment methods such as Pix in Brazil, Latin Americans are experiencing a whole new era of access and inclusion.

From local to global and vice versa

The hybridization of marketplaces, which is boosted by technology, allowed a new trend where international players are localizing and local e‑commerce titans are internationalizing


A remarkable study on the current scenario and perspectives of Latin America’s digital payments and e‑commerce market.

The third edition of EBANX annual study is out! Curated by EBANX' we make a deep dive into some of the region’s main trends while providing a holistic view from many experts about the digital commerce market in Latin America.

What you will find out:

  • Cross-border e-commerce growth
  • The payments landscape
  • Current consumption behaviors
  • New market opportunities
  • Trends and perspectives

Get the full Beyond Borders 2021/2022 study