The digital impact on emerging markets in 2021 and payment trends for 2022 – LATAM

PayRetailers - Accept the local payments that Latin American consumers trust and are already used to.

Latin America, driven by its multifaceted markets in financial regulations, trending digital payments by new technologies and diverse foreign trade players that are localizing their business internationally, continues to grow by leaps and bounds among the big players globally with local as well as international merchants. In 2021, Latin Americans have noticed a shift towards new payment systems that have contributed to financial inclusion.

It has been observed that international merchants were able to enter the Latin American population, taking advantage of a market that is expected to yearly grow by 30% by 2025, competing at the pace of the United States.

Likewise, it has been a year in which Latin America has been recognized as a part of the world full of opportunities. Brazil continues to represent half of the region for its rapid growth and expansion in digital solutions with the emergence of new alternatives for local payment methods. In addition, Mexico and Colombia worked on their uniqueness with great strength; the first as the main legal online gaming market in the region and the second as a country with a high number of Fintechs with digital accounts, driving the emergence of financial solutions and access to financial products.

During this same time, this has been one of the biggest challenges for cross-broker payments at the B2B level. It’s paramount that they get their money quickly and to mitigate the risks of receiving payments, for better control over cash flows.


With the digital transformation and the region’s markets improving their financial technology capabilities, the experiences of businesses and consumers have increased; experiences that have been facilitated by payment processors, which, in addition, provide localization in terms of payment methods, local regulatory compliance, constant updating and coverage in more than 12 countries in Latin America, as is the case with PayRetailers.

For example, for the Brazilian consumer, the last year has been solid in terms of technological growth, allowing the emergence of new payment methods such as PIX. This in turn led cross-border e-commerce, international merchants and regional e-buyers to expand.

And the expansion of international operators that need to mitigate the difficulties in Latin America, count on a local payment partner such as PayRetailers, accessing useful benefits such as knowledge of the payment behaviors of consumers in each Latin American country, being able to offer local payment methods, compliance with local regulations and enabling payments with currency exchanges with a single integration, offering flexibility in transfers without the need to hire a third party.


The data for 2021 is clear: digitalization in Latin America is becoming more and more noticeable, innovating markets and making businesses more competitive. The digital payments sector has evolved, offering more flexible, fast and secure alternatives.

By 2022 some of these payment alternatives will continue to grow their relevance in the region. The means “Cashless & Contactless” is increasingly popular for its use with mobile devices, a category that includes digital wallets, QR codes, pay by link and peer-to-peer.

Biometric payment methods will continue to gain popularity due to the security they offer, supporting the rise of e-commerce.

Undoubtedly, one of the biggest trends of the year and that will continue to strengthen its adoption within the market are Cryptocurrencies. These virtual currencies will become popular with online merchants that offer payments in 2022.

PayRetailers offers more than 250 local payment methods in Latin America, helping merchants enter each of the countries with their own financial innovation process through a single API integration and with teams of experts located in each market so that payment processes are carried out smoothly, quickly, and securely.