Latin America Growth
The story of BNPL in Latin America (LatAm) is not yet one of rapid growth, but potential growth. BNPL transactions accounted for a meager 1% of e-commerce payments in 2022 and will likely grow to 3% by 2025. Cash is still the most popular form of payment in the region, closely followed by credit and debit cards. Digital payment adoption is still taking off and the data required to power BNPL can still be hard to capture. In Brazil and Mexico, however, adoption rates are higher and expected to grow at a similar rate to those globally. By 2025, those markets are likely to see 3.8% of e-commerce transactions come from BNPL. Trends As is clear from the numbers, financial and consumer behavior is unique in LatAm - not just as a region, but within it as well. Across the 17 major markets, a financial product that finds success in one may fail in another. That is part of the reason BNPL providers have had trouble getting the micro-loans off the ground - the products need to be highly customized to meet the variety of needs and habits of consumers. What may be disruptive in Europe may not be in LatAm. That being said, there have been hefty investment dollars flowing to the region’s BNPL players. Biggest Players Kueski | Nelo | Creditas | Addi | Koin
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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