As the world adopts digital payment options at a breakneck pace, Latin American countries have typically lagged in the shift away from cash to alternative payment methods, including digital wallets, QR codes and other contactless payment options. With recent research indicating that economic growth is...
As the global economy becomes increasingly digital, the prospect of bringing economies that have long depended on cash into the digital world remains one of FinTech innovators’ greatest challenges. The stakes are high, as digitizing the payment process and encouraging citizens to take full advantage...
Financial institutions (FIs) and FinTechs anxious to usher Central American and Caribbean countries into the global digital payments stage face cultural, historical and regulatory hurdles — even though the transition is critical to the region’s economic future. In the "Digitizing Payments In Latin America Playbook,"...
The pandemic pushed governments, businesses and consumers worldwide to look at the importance of digitization as the world becomes increasingly connected. Countries with digitally inclined consumers found value in adapting to digital marketplaces, and countries with higher numbers of unbanked or underbanked consumers face unique...
Digital payments are becoming more popular all over the world, especially as the number of banked individuals continues to grow and digital banking becomes the primary way individuals interact with their financial institutions (FIs). A survey found that around 90% of bank customers in Latin...
When Brazil’s central bank launched Pix last year, the country was thrust into the global payments spotlight. In this month’s "Digitizing Payments In Latin America Playbook," PYMNTS talked with RecargaPay’s Rodrigo Teijeiro about how this instant payments option shifted a mixed cash and credit card...
Open banking is an emerging practice in the financial sector these days, with consumers embracing the opportunity to control their financial data and prevent banks from blocking the movement of money between other financial services. Almost 4 out of 5 Brazilians (79%) compared to slightly...
Digital payments acceptance is becoming table stakes around the world as consumers continue to move many aspects of their lives online, and Latin America is no exception. The transaction value of digital commerce in the region surpassed $100 billion in 2019, and this value is...
Consumers worldwide have altered various aspects of their lives during the pandemic, including how they shop, pay bills and work. Digital-first remote or freelance positions that give workers more flexibility are fast becoming the norm for many individuals. This change is especially notable in regions...
