Financial Cards and Payments in Latin America

Delivery

This report comes in PPT.

Key Findings

Sharp declines seen in Argentina

The incoming Milei government’s policies, such as devaluing the peso by 50% against the US dollar and implementing swingeing cuts to public expenditure across a wide range of areas, meant that inflation tracked even higher in Argentina, negatively impacting the personal and card payment transactions performances in 2024.

Further expansion of Pix offering in Brazil

In 2025, Brazil’s Central Bank-backed Pix instant payments system is expected to launch Pix Automático, which works similarly to automatic debit for recurring bills such as water, electricity or gas. Pix services have been promoting greater financial inclusion, as people of different age groups and socioeconomic profiles adopt Pix for everyday transactions.

Fintechs helping drive financial inclusion in Mexico

Within an atmosphere of increasing financial inclusion, given almost 30% of the Mexican population is still not banked, fintechs have played a relevant role by offering financial solutions for unbanked Mexicans through technology; for example, by providing digital accounts, mobile payments, and microcredit even in the most remote areas of the country.

Fintech Law to drive the  development of Chile’s consumer finance market

Chile’s Fintech Law sets out to regulate open finance and further the country's vision of promoting competition and financial inclusion through innovation and technology. The law also emphasises financial inclusion, enabling underserved populations to access credit more easily, while reinforcing consumer protection measures for fair and transparent lending practices.