Monday, March 20

Latin America Mobile Payment Market Trends, Drivers, Challenges and Growth Opportunities 2021-2026

According to IMARC Group latest report titled “Latin America Mobile Payment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on Latin America Mobile Payment Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Latin America mobile payment market exhibited robust growth during 2015-2020. Looking forward, IMARC Group expects the market to continue its robust growth during 2021-2026.

Mobile payment is the digitalized form of paying cash that acts as a cashless medium for daily transactions in the modern world. It automates payment systems by offering an alternative method of payment using a portable electronic device like a mobile or tablet. It is utilized in paying bills on-site at stores by scanning a barcode and accepting payments from comfort stores to large, multi-national retailers. The main objective is to combine all legacy payments and offer an option that homogeneously utilizes the various channels. It provides additional privacy and safety advantages compared to physical cards.

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Market Trends:

The market in Latin America is majorly driven by the rising number of active smartphone users. In line with this, the growing awareness about digital payment is positively influencing the market. Furthermore, the expansion of the e-commerce sector and payment promotion in demand for fast and hassle-free transaction services are catalyzing the growth of the market. Apart from this, the widespread use of NFC, RFID, and host card emulation technology in mobile payment solutions are propelling the market. Moreover, the proliferation of the tech-savvy youth generation, the development in the middle-class segment, and rapid urbanization are strengthening the demand. Besides this, integrating biometric authentication methods with mobile payment applications to minimize the prospects of protection scams or robberies by securing the payment gateway is creating a positive outlook for the market. Additionally, the utilization of e-payments due to the rapid development of e-commerce platforms is providing a boost to the mobile payment market.

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Latin America Mobile Payment Market Segmentation:

Our report has categorized the market based on country, mode of transaction, application and end-use.

By Mode of Transaction:

  • WAP
  • NFC
  • SMS
  • USSD
  • Others

 By Application:

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

By Country:

  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Chile
  • Peru
  • Others

Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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