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Latin America Online Payment Methods 2019

  • ID: 4752253
  • Report
  • Region: Latin America
  • 93 pages
  • yStats GmbH & Co. KG
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Plastic Reigns in the Latin American E-Commerce Payments Market

FEATURED COMPANIES

  • Alphabet Inc.
  • Apple Inc.
  • BBVA Wallet
  • Google Pay
  • Mastercard Inc.
  • MercadoLibre Inc.
  • MORE

Latin American E-Commerce payments market led by cards, says study

Online shoppers in Latin America prefer to pay by card
Different types of cards were the preferred method of more than 50% of online shoppers in Latin America in 2018, according to this research. Cash on delivery ranked second, followed by other alternative payment methods such as payment at convenience stores and supermarkets.

Mobile payments are increasing across Latin America
Mobile payment is a growing trend both in online and brick-and-mortar shopping in Latin America. Two in three Internet users in this region said they would be likely to use mobile wallets or similar payment methods during 2018/2019. Recent market estimates cited by the researcher reveal that consumers in Argentina and Mexico had the highest rates of in-store mobile payment usage among their regional peers. The competitors in the expanding mobile payments market in Latin America include Apple Pay, BBVA Wallet, Google Pay and Samsung Pay, among others.

Credit card installments still popular in Brazil
Digital shoppers in Brazil, Latin America’s largest online retail market, paid by credit card installments more than by other methods in 2018, according to a survey in the report. However, the popularity of this method declined slightly from 2017, given that many online merchants offer discounts on one-time payment methods such as via Boleto Bancario.

Questions Answered in this Report

  • What are the key trends and developments in online payments worldwide and in Latin America?
  • How do online payment method preferences vary between Argentina, Brazil, Chile, Colombia, and Mexico?
  • How important is payment security to digital consumers across the region?
  • What is the current state and the prospects of mobile payments in Latin America?
  • How many consumers in Latin America use mobile wallets to pay in-store?
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alphabet Inc.
  • Apple Inc.
  • BBVA Wallet
  • Google Pay
  • Mastercard Inc.
  • MercadoLibre Inc.
  • MORE

1. Management Summary

2. Global Developments
Payment Methods Accepted in Online Stores, in % of Online Stores, February 2018
Reasons For Not Shopping Online, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, Q1 2017 & Q1 2018
Breakdown of Card Payments by E-Commerce and POS Payments, in %, 2016 & 2022f
Online Payment Fraud Losses, in USD billion, 2018e & 2023f
Share of Respondents Who Would be Willing to Use Fingerprint or Other Biometric to Secure Their Payment Details, in %, 2018
Mobile Payment User Penetration, by Region, in % of Internet Users, Q4 2017
Proximity Mobile Payment User Penetration, by Region, in % of Smartphone Users, 2017-2022f
Top 10 Countries by Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2019f
Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Region, Q1 2017 & Q1 2018
Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Selected Countries, Q1 2018
Mobile Wallet User Penetration, in % of Respondents, by China, Germany, India, Taiwan, the USA and the UK, 2018
Number of Contactless Payment Users of Apple Pay, Samsung Pay, Google Pay and Other OEM Pay, in millions, 2018e & 2020f
Retail Spending at Frictionless Payment Stores, in USD million, 2018e & 2023f
IoT Payments, in USD billion, 2018e & 2023f
IoT Payments, in USD billion, by Connected Car and Connected Home Device Payments, 2021f

3. Latin America

3.1. Regional
Online and Mobile Payment Trends and News about Players, February 2019
Breakdown of Online Purchases in the Past Month by Payment Method Used, in % of Online Shoppers with a Bank Account, by Selected Countries, 2018
Top 5 Payment Methods Used in Cross-Border E-Commerce, in % of Cross-Border Online Shoppers, by Argentina, Brazil, Chile, Mexico and Peru, May 2018
Share of Online Shoppers Who Believe That Secure Way to Pay is a Driver for Cross-Border Online Shopping, in %, by Brazil, Chile, Mexico and Peru, May 2018
Mobile Money Transaction Value, in USD billion, and Breakdown by Transaction Type, in %, Compared to Global, 2017
Penetration of In-Store Mobile Payment App Users, in % of Banked Internet Users, by Selected Countries, 2018
Share of Banked Internet Users Who Have Not Used Mobile Payment Apps/ Mobile Wallets In-Store But Intend to Use Them in the Next Year, in %, by Selected Countries, 2018
Top Motivations to Start Using Mobile Payments Apps/Wallets In-Store, in % of Banked Internet Users Who Have Not Used and Do Not Intend to Use Mobile Payment Apps In-Store Next Year, by Selected Countries, 2018
Perceived Barriers to Paying via a Mobile App In-Store, in % of Banked Internet Users Who Have Not Used Mobile Payment Apps to Pay In-Store, by Selected Countries, 2018
Penetration of P2P Mobile Payment Users, in % of Banked Internet Users, by Selected Countries, 2018
Awareness of FinTech, by Company Type, in % of Banked Internet Users, by Selected Countries, 2018
Proximity Mobile Payment User Penetration, by Brazil, Mexico, Argentina, Other and Latin America Total, in % of Smartphone Users, 2017-2022f
Number of FinTech Startups per Segment, by Brazil, Colombia and Mexico, May 2018

3.2. Brazil
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, May 2018
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, by Age Group and Gender, May 2018
Share of Online Shoppers Who Received a Discount When Paying with a Specific Payment Method, in %, May 2018
Breakdown of the Number of Payment Installments Used, in % of Online Shoppers, H1 2017 & H1 2018
Share of Top 10 Payment Methods of E-Commerce Orders Placed and Approved, in %, and Approval Rate by Payment Method, in %, H1 2018
Breakdown of Payment Methods Used in the Last Online Purchase from an International Site, in % of Cross-Border Online Shoppers, 2013 - 2017
Top 10 Factors Considered When Making an Online Purchase Decision, incl. Payment-Related, in % of Online Shoppers, May 2018
Breakdown of Payment Methods Used in M-Commerce, in % of Mobile Shoppers, August 2018
Most Important Features in a M-Commerce App, incl. Payment-Related, in % of Mobile Shoppers, September 2018
Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, Q1 2018
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f

3.3. Argentina
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2017 & 2018
Breakdown of E-Commerce Sales by Payment Method, in %, 2016 & 2017
Perceived Disadvantages of Online Shopping, in % of Online Shoppers, 2016 & 2017
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f

3.4. Mexico
Payment Methods Used in E-Commerce, in % of Online Shoppers, November 2018
Payment Methods Offered in E-Commerce, in % of Online Merchants, November 2018
Payment Methods Used in E-Commerce, in % of Online Shoppers, by Online Shoppers With and Without a Bank Account, May 2018
Breakdown of the Level of Satisfaction With Online Shopping, in % of Online Shoppers, and Problems Encountered Among Those Who Are Insufficiently Satisfied, in %, May 2018
Top 3 Reasons for Not Shopping Online, in % of Internet Users Who Do Not Shop Online, 2016 & 2018
FinTech Payment Methods Used to Make Purchases or Payments Online, in % of Online Shoppers Who Used FinTech Payments, July 2018
Number of Authorized Payment Transactions on E-Commerce Websites, in millions, Value, in MXN billion, and Authorization Rate, in % of Transactions and in % of Transaction Value, by Credit Cards and Debit Cards, Q1 2016 – Q3 2018
Chargeback Rate, in % of Number of Authorized Payment Transactions on E-Commerce Websites and in % of Their Value, by Credit Cards and Debit Cards, Q1 2016 – Q3 2018
Share of Online Shoppers Who Stored Information With an Online Merchant and Type of Information Stored with an Online Merchant, in % of Online Shoppers, 2018
Reasons for Not Storing Personal Information With Online Merchants, in % of Online Shoppers Who Do Not Store Personal Information With Online Merchants, 2018
Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, Q1 2018
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f

3.5. Colombia
Payment Methods Used in E-Commerce, in % of Online Shoppers, by Shoppers With and Without a Bank Account, in % of Online Shoppers, May 2018
Payment-Related Aspects Considered When Shopping Online, in % of Online Shoppers, May 2018
Breakdown of Card Payment Transactions in E-Commerce, by Credit Card and Debit Card, in %, 2016 & 2017
Top Reasons for Not Shopping Online, incl. Delivery-Related, in % of Internet Users Who Do Not Shop Online, 2017

3.6. Chile
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2017 & 2018

3.7. Dominican Republic
Breakdown of Online Purchases in the Past Month by Payment Method Used, in % of Online Shoppers with a Bank Account, 2018
Domestic E-Commerce Transactions with Payment Cards, incl. Number, in thousands, and Value, in DOP million, by Card Type, 2014 - 2018
International E-Commerce Transactions with Payment Cards, incl. Number, in thousands, and Value, in DOP million, by Card Type, 2014 - 2018

3.8. Peru
Breakdown of Online Purchases in the Past Month by Payment Method Used, in % of Online Shoppers with a Bank Account, 2018
Important Aspects in E-Commerce, in % of Online Shoppers, July 2018

3.9. Venezuela
Share of Online Shoppers Paying Online Compared to Cash on Delivery, in %, 2017

3.10. Costa Rica
Share of Online Shoppers Paying Online Compared to Cash on Delivery, in %, 2017

Note: Product cover images may vary from those shown
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  • Alphabet Inc.
  • Apple Inc.
  • BBVA Wallet
  • Google Pay
  • Mastercard Inc.
  • MercadoLibre Inc.
  • Oxxo S.A.
  • PagSeguro Digital Ltd.
  • Paypal Inc.
  • Samsung Co. Ltd.
  • Visa Inc.
Note: Product cover images may vary from those shown
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