The Latin America, Middle East and Africa Payment Processing Solutions Market would witness market growth of 12.1% CAGR during the forecast period (2018 - 2024). According to a recent study, more than half of online shoppers in Latin America tend to pay by credit, debit or prepaid card. Cash on Delivery (COD) is another common method of payment, particularly among customers who do not have a bank account.
This region's unique diversity draws together advanced markets such as Singapore and Australia alongside developing economies such as Thailand and India, suggesting a wide range of sophistication in the mobile payment services available on the market. Asia Pacific will dominate mobile payment consumers worldwide, offering payment suppliers with possibilities to adapt mobile technology to their future platforms and proposals. The uptake of portable payments in the region will be largely due to technology development and accessibility in large developing economies such as China and India.
In addition, as an alternative to card and COD payments, a double-digit share of shoppers in Mexico, Argentina, and Colombia paid for their Internet purchases at brick-and-mortar locations such as convenience stores, supermarkets, or pharmacies, as of 2018. An evolving payment trend in Latin America is the use of mobile payment methods to settle online and in-store transactions, this study shows. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PayPal Holdings, Inc., Global Payments Inc., First Data Corporation, Square Inc., Wirecard AG, Naspers Limited, Visa Inc., Jack Henry & Associates Inc., Adyen N.V., and Paysafe Group Limited.
Market Segmentation:
By Payment Method
By End User
By Country
Companies Profiled
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