Latin America Payment Gateways Market Research Report: Forecast (2026-2032)

Latin America Payment Gateways Market Report Key Takeaways:

• The Latin America Payment Gateways Market size was valued at around USD 4.55 billion in 2025 and is projected to reach USD 20.22 billion by 2032. The estimated CAGR from 2026 to 2032 is around 23.75%, indicating strong growth.
• By payment method, the digital wallets (ewallets) segment seized around 38% of the Latin America Payment Gateways Market size in 2025.
• By end user, the retail & e-commerce captured around 45% of the Latin America Payment Gateways Market size in 2025.
• Brazil leads the Latin America Payment Gateways Market with a substantial 32% market share in 2025.
• The leading payment gateway companies in Latin America are Mercado Pago, DLocal Limited, EBANX, PagSeguro, StoneCo Ltd., PayU Payments Private Limited, Clip, Pomelo Group Limited, Prometeo, Cielo S.A, PayPal, Stripe, Inc., and others.

Market Insights & Analysis: Latin America Payment Gateways Market (2026- 2032):

The Latin America Payment Gateways Market size was valued at around USD 4.55 billion in 2025 and is projected to reach USD 20.22 billion by 2032. Along with this, the market is estimated to grow at a CAGR of around 23.75% during the forecast period, i.e., 2026-32.

The Latin America Payment Gateways Market is experiencing rapid growth, driven by sustained growth in e-commerce activity and the accelerating penetration of mobile wallets and QR-based payment systems across retail and merchant payment infrastructures.

Brazil continues to anchor regional expansion. According to the U.S. Commercial Service, Brazil’s e-commerce sector is projected to generate approximately USD 36.3 billion in revenue by 2025, supported by nearly 94 million online shoppers, an increase of about 3 million compared with 2024. This growth reflects steady improvements in last-mile logistics, rising smartphone usage, and the mainstream adoption of instant digital payment instruments such as Pix, which have significantly reduced transaction friction and checkout abandonment.

Regionally, digital commerce penetration is deepening across both developed and emerging Latin American markets. According to AméricaEconomía, indicates that in 2024, Chile led the region, with roughly 40% of total retail sales conducted online, including 10.5% via marketplaces. Brazil followed with nearly 29.4% of retail sales occurring online, while Peru reached 25.8% penetration. Marketplaces are increasingly central to this growth, accounting for 15% of Brazil’s and 8.7% of Peru’s retail sales .

In parallel, cross-border e-commerce activity has expanded materially. International platforms such as AliExpress, Shopee, Shein, and Temu represented 38% of Brazil’s, 32% of Mexico’s, and 29% of Chile’s online transactions in early 2024 .

Importantly, digital adoption is no longer limited to discretionary categories, as FMCG e-commerce recorded 9.5% year-on-year growth, broadening transaction volumes and frequency for payment gateways .

The rapid adoption of mobile wallets and QR-based payment systems is further reinforcing gateway demand. A notable example is Mercado Pago’s integration of Brazil’s Pix system into Argentina, allowing Brazilian visitors to make instant QR and account-based payments while abroad . This development highlights the growing importance of cross-border interoperability, real-time settlement, and multi-currency processing capabilities within gateway platforms.

Looking beyond 2025, long-term growth prospects remain favorable. Independent projections indicate that Latin America’s e-commerce sector will continue expanding through at least 2027, with Mexico expected to record annual growth of around 25 %, driven by mobile commerce adoption and rising cross-border purchasing.

Additionally, fintech ecosystems such as Peru’s Yape are expanding wallet functionality, merchant acceptance, and user reach, further integrating digital payments with online retail and marketplace platforms .

Sustained expansion in e-commerce volumes, cross-border digital trade, and mobile payment adoption is structurally increasing reliance on secure and scalable payment gateways. As these trends intensify beyond 2025, payment infrastructure will remain a critical enabler of Latin America’s digital commerce growth.

Latin America Payment Gateways Market Recent Developments:

• October 2025: dLocal has teamed up with payment gateway Alchemy Pay to enhance crypto-to-fiat on- and off-ramp services in Latin America, beginning with instant bank transfers in Argentina. The collaboration uses dLocal’s local payment infrastructure and USD settlement support to enable faster, localized crypto purchases, reducing traditional cross-border friction and expanding digital payment accessibility across the region.
• January 2025: Airwallex has secured a payment institution licence in Brazil and completed the acquisition of MexPago to enter Mexico’s payments market, enabling support for local accounts, card issuing, and payment acquiring. It plans to launch services in 2025 to connect global businesses with Latin America’s two largest economies

Latin America Payment Gateways Market Scope:

Latin America Payment Gateways Market Driver:

Expanding E-commerce Driving Market Demand

The accelerated expansion of e-commerce across Latin America is emerging as a primary structural driver for the payment gateways market, as digital transactions increasingly replace traditional retail payments.

Regional online retail sales are projected to reach approximately USD 215.31 billion by 2026, expanding at nearly 1.5 times the global average growth rate . This momentum is being driven by rising consumer confidence in online shopping, improved logistics capabilities, and greater transparency in pricing and delivery timelines.

Notably, Argentina, Brazil, and Mexico are expected to collectively account for nearly 85 % of total e-commerce sales in 2025, highlighting the concentration of digital commerce activity within the region’s largest economies .

As transaction volumes scale rapidly, leading digital commerce platforms are making substantial infrastructure investments to sustain growth. For instance, MercadoLibre announced an investment of USD 3.4 billion in Mexico in 2025, targeting expansions in technology platforms, fulfillment networks, and financial services. These investments are designed to enhance checkout efficiency, accelerate order fulfillment, and strengthen integrated payment capabilities, directly reinforcing the demand for reliable and scalable payment gateway solutions.

The convergence of rising online consumer participation, increasing transaction frequency, and sustained platform investments is structurally increasing the reliance on digital payment infrastructure.

As e-commerce penetration deepens across the region, payment gateways are becoming mission-critical enablers of secure, high-volume digital commerce, positioning this driver as a key catalyst for long-term market growth.

Latin America Payment Gateways Market Trend:

Adoption of Mobile Wallets & QR Payment Systems

Mobile wallets and QR-based payments have rapidly become a defining trend in Latin America’s digital payments landscape, reshaping how consumers pay and how merchants accept transactions.

In Brazil, the central-bank-led instant payment system Pix has demonstrated extraordinary adoption: in 2024, it processed over USD 4.8 trillion across 63 billion transactions, reflecting widespread use for both everyday purchases and high-frequency digital commerce . Pix’s real-time, fee-free transfers and QR-enabled payments have made it the dominant payment method in the country, with adoption across individuals, small vendors, and large merchants.

In Mexico, mobile payment fintech like Clip and Klar are driving digitization among merchants and consumers. Clip offers mobile POS and QR acceptance services that enable businesses to process payments on smartphones, with the platform serving over 600,000 merchants, while Klar, a mobile-first digital bank, has attracted 3 million+ users, underscoring the broad embrace of mobile-based financial tools beyond traditional banking channels .

Across the region, these innovations reflect a broader move toward mobile convenience, financial inclusion, and reduced reliance on cash. Governments and private players alike are incentivizing QR and wallet use through interoperability standards, digital onboarding, and integration with e-commerce platforms, making instant, secure payments ubiquitous.

The strong uptake of mobile wallets like Pix in Brazil and mobile POS/QR solutions in Mexico highlights how consumer and merchant preference for fast, secure, mobile-centric payments is accelerating. This trend fundamentally expands the role of payment gateways, increases transaction volumes, and drives the development of more sophisticated, localized payment infrastructure across Latin America.

Latin America Payment Gateways Market Challenge:

Cybersecurity & Fraud Risks Impeding Market Growth

The rapid expansion of digital payments across Latin America has intensified cybersecurity and fraud-related risks, posing a material challenge to the sustained growth of the payment gateways market. As transaction volumes rise, fraud techniques are becoming more complex and targeted, exposing both consumers and merchants to heightened security threats.

A 2025 Mastercard regional survey highlights the scale of this concern, revealing that a significant pool of consumers remains wary of digital transactions due to fraud exposure. Notably, 32% of reported fraud incidents in the region originate from phone and voice-based scams, reflecting the continued effectiveness of social engineering tactics. More critically, 43% of consumers identified AI-enabled fraud as an emerging risk, underscoring the rapid evolution of cybercrime capabilities .

These advanced threat vectors increase operational and reputational risks for payment gateway providers, requiring continuous investments in authentication technologies, real-time monitoring, and regulatory compliance. For smaller merchants and fintech players, rising security costs may limit adoption or delay platform integration, potentially slowing ecosystem-wide digital payment penetration.

Overall, escalating cybersecurity and fraud risks threaten consumer trust and raise compliance costs, which may constrain payment gateway adoption and temper market growth if not effectively mitigated.

Latin America Payment Gateways Market (2026-32) Segmentation Analysis:

The Latin America Payment Gateways Market Report and Forecast 2026-2032 offers a detailed analysis of the market based on the following segments:

Based on Payment Method:

• Credit / Debit Cards
• Digital Wallets (eWallets)
• Bank Transfers
• Cryptocurrencies
• QR-Code Payments
• Buy Now, Pay Later (BNPL)
• Others

The digital wallets (ewallets) segment holds the top spot in the Latin America Payment Gateways Market, with a market share of around 38%. This segment is maintaining its leadership, primarily supported by operational convenience, transaction speed, and seamless integration with mobile applications, e-commerce platforms, and service ecosystems. eWallets allow users to consolidate payment instruments within a single interface, reducing transaction friction and improving payment efficiency for both consumers and merchants.

The expansion of smartphone penetration and mobile internet usage has further accelerated eWallet adoption, particularly among digitally active urban populations and small businesses seeking low-cost acceptance solutions.

Regulatory frameworks promoting cashless transactions and financial inclusion have also enabled wallet providers to scale quickly by facilitating simplified onboarding and real-time payment capabilities. In parallel, merchants increasingly favor eWallets due to higher transaction success rates, faster settlement cycles, and reduced dependence on physical infrastructure.

From a demand perspective, eWallets benefit from strong network effects created by partnerships with retail platforms, transportation services, and digital subscription providers. Value-added features such as rewards, loyalty programs, and integrated financial services encourage repeat usage and customer retention. Collectively, these structural, technological, and behavioral advantages underpin the sustained dominance of Digital Wallets within the payment gateways market.

Based on End User:

• Retail & E-Commerce
• Banking, Financial Services & Insurance (BFSI)
• Travel & Hospitality
• Healthcare
• Education
• Government Services
• Transportation & Logistics
• Telecommunications
• Others

The retail & e-commerce category leads the Latin America Payment Gateways Industry, holding around 45% market share, driven by the sustained digitalization of consumer purchasing channels.

The rapid expansion of online marketplaces, brand-owned webstores, and mobile commerce platforms has substantially increased the volume and frequency of electronic transactions, necessitating reliable and scalable payment gateway infrastructure.

Retailers require gateway solutions that can process high transaction loads while supporting multiple payment instruments, including cards, digital wallets, real-time bank transfers, and QR-based payments, to ensure seamless checkout experiences and minimize transaction friction.

This segment’s dominance is further reinforced by the growth of cross-border e-commerce, which requires advanced gateway capabilities such as multi-currency processing, local payment method compatibility, and real-time risk monitoring. High sales velocity during promotional events, flash sales, and peak shopping seasons intensifies reliance on robust payment systems capable of maintaining uptime and transaction accuracy.

Moreover, the increasing participation of small and medium-sized merchants in digital retail has accelerated the adoption of integrated and API-based gateway solutions, lowering entry barriers to online commerce.

Collectively, these structural demand characteristics position retail & e-commerce as the most transaction-intensive and commercially critical end-user segment, sustaining its market leadership.

Latin America Payment Gateways Market (2026-32): Regional Projection

The Latin America Payment Gateways Market is dominated by the Brazil, which holds a commanding 32% share, supported by its scale, institutional maturity, and transaction density relative to neighboring economies.

As the region’s largest economy, Brazil records the highest concentration of digital commerce activity, which translates directly into elevated demand for reliable, high-capacity payment gateway solutions across online retail, services, and platform-based business models.

The widespread institutionalization of instant payments through the Central Bank–led Pix infrastructure has structurally increased transaction frequency, compelling merchants and enterprises to deploy gateways capable of real-time processing, high uptime, and regulatory compliance.

The country’s dominance is further reinforced by a well-developed fintech and payments ecosystem, encompassing domestic acquirers, digital banks, and global gateway providers operating at a national scale.

Strong consumer penetration of mobile payments, QR-based transactions, and account-to-account transfers has broadened gateway utilization beyond traditional card payments. In parallel, regulatory clarity, interoperability standards, and national financial inclusion programs have reduced operational friction and encouraged merchant onboarding.

Compared with other Latin American markets, Brazil’s combination of transaction volume, platform sophistication, and payments infrastructure depth sustains its leadership position and underpins its outsized contribution to regional market value.

Gain a Competitive Edge with Our Latin America Payment Gateways Market Report:

• Latin America Payment Gateways Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Latin America Payment Gateways Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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