Latin America B2B Buy Now Pay Later Business and Investment Opportunities Databook - 45+ KPIs on B2B BNPL Market Size, End-Use Sectors, Retail Product Categories, Sales Channels, Company Size - Q2 2026 Update

Key Trends and Drivers in Latin America's B2B Buy Now, Pay Later (BNPL) Market

Instant Payment Infrastructure Drives B2B BNPL Settlement at Near-Zero Cost

• Brazil's Pix instant payment system achieving near-universal business adoption within three years of its 2020 launch and Mexico's SPEI system, which provides free real-time interbank transfers, have eliminated settlement cost as a barrier to B2B BNPL profitability at small transaction sizes. Both systems enable B2B BNPL providers to fund suppliers in real time at no incremental cost, making same-day supplier payment a standard product feature rather than a premium option. MercadoPago, which reported a 50% increase in BNPL usage during major sales events in 2024, has built on Pix and SPEI rails for its embedded B2B payment terms.
• The critical economic advantage of instant payment infrastructure for B2B BNPL is that it removes the supplier participation barrier: suppliers in markets without instant settlement must wait days to receive BNPL-funded payment, making them indifferent or resistant to BNPL programs. Pix and SPEI eliminate this friction, enabling B2B BNPL providers to achieve supplier network scale much faster than would be possible with conventional bank transfer settlement.
• Pix's evolution toward Credit on Pix linking credit facilities directly to Pix payment instruments will extend B2B BNPL to semi-urban and rural businesses that may not maintain formal BNPL platform accounts but conduct daily transactions through Pix. This infrastructure development is the most significant structural change in Brazilian B2B BNPL access expected over the next 2-4 years.

E-Invoice Mandates Create Machine-Readable Underwriting Data at Scale

• Brazil's Nota Fiscal Eletrônica (NF-e) and Mexico's Comprobante Fiscal Digital por Internet (CFDI) e-invoice mandates have created verified digital transaction records for millions of businesses that previously operated with minimal formal documentation. B2B BNPL providers including Konfio which upsized its Goldman Sachs and Gramercy combined credit facilities, enabling automated underwriting for businesses that traditional banks cannot efficiently serve.
• E-invoice mandates are the Latin American equivalent of open banking in their impact on B2B BNPL underwriting: they create a standardised, government-verified financial data layer that enables algorithmic credit assessment for businesses outside the formal banking system. Mexico's SAT expanded CFDI coverage to additional smaller businesses in 2024, increasing the population of formally documented SMEs eligible for data-driven B2B BNPL credit assessment.
• As e-invoice mandates extend to progressively smaller businesses across Brazil, Mexico, Colombia, and Chile, the addressable market for algorithmic B2B BNPL underwriting will expand significantly. Providers that build the most sophisticated CFDI and NF-e data integration capabilities will develop durable competitive advantages in credit accuracy and approval rate.

Nearshoring Supply Chains Create a High-Value New B2B BNPL Segment in Mexico

• Mexico's manufacturing sector is expanding rapidly as US companies restructure supply chains under USMCA, with new production facilities established in Nuevo León, Jalisco, and Querétaro creating fresh demand for B2B payment term solutions. SME suppliers to nearshoring manufacturers are growing faster than their banking relationships can accommodate typically requiring 12-24 months of audited financial history for bank credit creating a structural gap that B2B BNPL fills using revenue data, purchase orders, and CFDI records as credit signals. Mundi's cross-border B2B BNPL product for Mexican manufacturers selling to US buyers addresses the specific complexity of managing USD payment terms while providing MXN settlement.
• Nearshoring represents a net new B2B BNPL opportunity in Mexico that does not exist in other Latin American markets: the arrival of global manufacturers creates a new tier of rapidly growing Mexican SME suppliers whose financial trajectory does not match their historical credit records. This segment requires B2B BNPL products that assess future revenue potential rather than historical credit performance.
• Nearshoring supply chain B2B BNPL will remain a high-growth segment for the next 3-4 years as US investment in Mexican production continues. Providers that develop bilingual product infrastructure, integrate with US corporate procurement systems, and understand US corporate supplier qualification requirements will access the highest-value transactions in this segment.

Competitive Landscape and Regulatory Changes in Latin America's B2B BNPL Market

Key Players and New Entrants

• MercadoPago (Brazil/Mexico/Argentina): The financial services arm of MercadoLibre Latin America's largest e-commerce platform providing embedded BNPL for both B2C and B2B transactions. MercadoPago reported a 50% increase in BNPL usage during major sales events in 2024, providing scale data on the regional market's appetite for embedded payment terms.
• Blu (Brazil): The most prominent domestic B2B BNPL provider in Brazil, backed by Porto Seguro and focused on retail and wholesale supply chain credit, benefiting from its insurance group backing for risk management infrastructure.
• Mundi (Mexico): A cross-border B2B payment and BNPL provider focused on Mexican exporters selling to US buyers, offering peso disbursement against US dollar receivables a distinctive product addressing the USMCA trade corridor's currency complexity.
• Addi (Colombia): A Colombian B2B BNPL provider that has expanded merchant adoption across furniture, fashion, and homeware and secured institutional funding to broaden merchant partnerships, demonstrating the viability of a specialist B2B BNPL model in a secondary Latin American market.

Recent Launches, Mergers, and Acquisitions

• Traive raised $20 million in a Series B in February 2024, led by Banco do Brasil through its BB Impacto ASG I Fund, to expand agri-BNPL coverage across Brazilian agricultural supply chains and launch a credit trading platform connecting agricultural producers with institutional capital markets.
• The Banco Central do Brasil published Open Finance Phase 4 implementation guidance in 2024, requiring investment and insurance product data sharing through Open Finance APIs, expanding the financial data scope available to B2B BNPL underwriters beyond banking transactional data.
• Mexico's SAT expanded mandatory CFDI e-invoice requirements to smaller businesses in 2024, increasing the population of formally documented Mexican SMEs eligible for data-driven B2B BNPL underwriting directly expanding the addressable market for CFDI-based credit providers including Konfio and Mundi.

ompetitive Landscape Outlook for the Next 2-4 Years

• Brazil's B2B BNPL market will grow most rapidly, driven by Credit on Pix infrastructure expansion, agri-BNPL scale-up in the world's largest agricultural export economy, and Nubank Business's potentially transformative B2B entry. The market will consolidate around platform-embedded providers and three to four specialised B2B fintechs.
• Mexico's nearshoring manufacturing investment expected to continue as US supply chain diversification from Asia persists through the USMCA period will create a sustained, high-value B2B BNPL growth segment unique to Mexico. Providers that build US-compatible product infrastructure and integrate with US corporate supplier portals will capture the most valuable nearshoring transactions.
• Colombia, Chile, and Peru will emerge as second-tier B2B BNPL markets over the next 2-4 years as digital B2B commerce infrastructure matures and as open banking frameworks create new underwriting data availability. Addi's success in Colombia provides the regional template for how specialist B2B BNPL can achieve scale in markets outside Brazil and Mexico.
• Regional consolidation through cross-border expansion is likely, with Brazilian B2B BNPL providers expanding into Colombia and Chile, and Mexican providers deepening their USMCA corridor capabilities. Pan-regional infrastructure providers particularly those with multi-country e-invoice integration and open finance API capabilities will emerge as enabling layers for country-specific B2B BNPL product deployments.

Regulatory Changes

• Brazil's Banco Central published updated digital lending regulations requiring all B2B BNPL providers operating through Sociedades de Crédito Direto structures to meet minimum capital requirements, conduct credit risk assessments, and report all credit operations to the SCR credit registry. Open Finance Phase 3 and 4 implementation completed through 2023-2024 further expanded underwriting data availability.
• Mexico's CNBV issued updated fintech lending guidelines under the Ley Fintech framework, clarifying capital requirements, consumer protection obligations, and credit reporting requirements for B2B BNPL providers operating through SOFIPO and SOFOM structures. CFDI consent requirements for credit underwriting were also clarified.
• Colombia's Superintendencia Financiera issued guidance on the regulatory treatment of embedded lending in digital commerce platforms, clarifying that B2B BNPL offered by platforms to merchants and business buyers requires appropriate financial licensing and must comply with credit reporting and responsible lending standards.
• Chile's Comisión para el Mercado Financiero has progressed open banking regulation through 2024 that will enable multi-bank financial data sharing for credit assessment, analogous to Brazil's Open Finance framework, improving underwriting data availability for Chilean B2B BNPL providers.

This title is a bundled offering, combining the following 4 reports, covering 130 tables and 140 figures:

Report Scope

Country reports in this bundled offering provide in-depth analysis of B2B Buy Now Pay Later industry. Below is a summary of key market segments offered at country level:

B2B BNPL Market Size and Growth Dynamics, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL in Retail: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL Market Segmentation by Key Retail Product Categories, 2021-2030

• Gross Merchandise Value Trend Analysis
• Electronics & Accessories
• Office Supplies
• Cleaning Products
• Fashion & Apparel
• Beauty & Personal Care
• Pantry & Food Products
• Other

B2B BNPL in Manufacturing: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL in Transport and Logistics: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL in Professional Services: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL in Industrial Applications: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL in Healthcare: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL in Other Sectors: Market Size and Forecast, 2021-2030

• Gross Merchandise Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value Per Transaction Trend Analysis

B2B BNPL Market Segmentation by Sales Channel, 2021-2030

• Online Channel
• POS Channel

B2B BNPL Market Segmentation by Company Size, 2021-2030

• Small Enterprises
• Medium Enterprises
• Large Enterprises

Reasons to Buy

• Comprehensive Market Intelligence: Gain a complete understanding of B2B Buy Now Pay Later market through core metrics including gross merchandise value, transaction volume, and average value per transaction with trend analysis covering 2021-2030.
• End-Use Sector Analysis: Analyze B2B BNPL adoption and spend dynamics across seven key sectors including Retail, Manufacturing, Transport and Logistics, Professional Services, Industrial Applications, Healthcare, and Other sectors with GMV, transaction volume, and average transaction value for each.
• Retail Product Category Deep-Dive: Access granular breakdown of B2B BNPL spend within the retail sector across seven product categories including Electronics & Accessories, Office Supplies, Cleaning Products, Fashion & Apparel, Beauty & Personal Care, Pantry & Food Products, and Other categories.
• Sales Channel Segmentation: Understand B2B BNPL market distribution by sales channel with dedicated analysis of Online Channel and POS Channel including market share trends and gross merchandise value forecasts for 2021-2030.
• Company Size Segmentation: Evaluate B2B BNPL adoption patterns by company size with market share analysis and GMV trend data segmented by Small, Medium, and Large enterprises.
• Competitive Landscape Insights: Access market share analysis by key players to understand the competitive positioning within United States's B2B BNPL ecosystem.
• Data-Driven Forecasts: Access structured dataset with historical data (2021-2024) and forecast values (2025-2030) across all segments, delivered in an analytics-ready databook.