Spotlight Video: payments in Latin America

Start with the numbers: over 600 million people call Latin America home. They’re spread over 33 countries, speaking everything from indigenous languages to Spanish and Portuguese. Immigrant populations include those from the Chinese, Japanese, and Indian diasporas. There are snow-bound peaks in the Andes, lush Amazon forests, and huge cities where millions live; among them, Mexico City, Bogotá, and São Paulo. 

And often, cash is still king. Indeed, there are huge numbers of merchants who accept nothing else, reflecting the payment of choice in an area where the informal sector is still a significant part of the overall economy.

However, the needs of the diverse populations and exploding innovation on the ground are increasingly driving the growth and adoption of new payment platforms. Credit and debit cards already account for over 50% of in-person spending in Chile and Brazil, emphasizing the individual nature of payments in this far-flung region.

This Spotlight “Mini Movie” showcases the unique LATAM payment landscape in a similarly distinctive way.

The steep rise in popularity and adoption of Pix in Brazil is testament to the area’s appetite for innovation. This central-bank-backed instant payment system (IPS) is ubiquitous now, and a person-to-person payment there is referred to as “doing a Pix.” Its success has been remarkable enough that it is now seen as an exemplar across the region, and various other LATAM nations have rolled out – or are rolling out – their own IPS offerings.

E-commerce is also thriving, and digital wallet usage is growing. However, fraud has followed in its wake. Banks and other financial service providers (FSPs) have had to adapt quickly, scaling up their security to protect themselves, merchants, and their customers. 

InterFund Solutions has experience and expertise across the region, with offices from Mexico to Brazil, and is well placed as a payments and SecurityTech partner.

Published: 16/09/2025