Latin America Mobile Payment Market Report by Mode of Transaction (WAP, NFC, SMS, USSD, and Others), Application (Entertainment, Energy and Utilities, Healthcare, Retail, Hospitality and Transportation, and Others), and Country 2024-2032

Latin America Mobile Payment Market Report by Mode of Transaction (WAP, NFC, SMS, USSD, and Others), Application (Entertainment, Energy and Utilities, Healthcare, Retail, Hospitality and Transportation, and Others), and Country 2024-2032

Report Format: PDF+Excel | Report ID: SR112025A2862

Market Overview:

The Latin America mobile payment market size reached US$ 252.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,494.1 Billion by 2032, exhibiting a growth rate (CAGR) of 21.7% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 252.6 Billion
Market Forecast in 2032
US$ 1,494.1 Billion
Market Growth Rate 2024-2032 21.7%


Mobile payment is used to initiate, confirm and authorize financial transactions in exchange for goods and services. It is conducted through various payment instruments, such as bank accounts, debit or credit cards, gift cards and mobile wallets. It generates a code and sends it over the air (OTA), which keeps payment information encrypted. At present, mobile payment is gaining traction in the Latin America region on account of the rising utilization of smartphones and the increasing penetration of the internet.

Mobile payment is more secure, convenient and easy-to-use as compared to other forms of payments. This, along with the rising trend of cashless payment solutions, represents one of the major factors bolstering the market growth in the Latin America region. Moreover, market players are integrating mobile payment solutions with advanced technologies, such as wearables, biometrics and blockchain, to enhance security, which, in turn, is positively influencing the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America mobile payment market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on mode of transaction and application.

Breakup by Mode of Transaction:

Latin America Mobile Payment Market

  • WAP
  • NFC
  • SMS
  • USSD
  • Others
     

Breakup by Application:

  • Entertainment
  • Energy and Utilities
  • Healthcare
  • Retail
  • Hospitality and Transportation
  • Others
     

Breakup by Country:

Latin America Mobile Payment Market by Country

  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Others
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Mode of Transaction, Application, Country
Countries Covered Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the Latin America mobile payment market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Latin America mobile payment market?
  • What are the key regional markets?
  • What is the breakup of the market based on the mode of transaction?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the Latin America mobile payment market and who are the key players?
  • What is the degree of competition in the industry?

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Latin America Mobile Payment Market Report by Mode of Transaction (WAP, NFC, SMS, USSD, and Others), Application (Entertainment, Energy and Utilities, Healthcare, Retail, Hospitality and Transportation, and Others), and Country 2024-2032
Purchase Options New Year Sale
Benefits of Customization
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  • Any level of personalization

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