Mobile POS payment users by region Latin America

The number of users is forecast to experience significant growth in all regions in 2028. From the selected regions, the ranking by number of users in the 'Mobile POS Payments' segment of the fintech market is forecast to be led by South America with 73.26 million users. In contrast, the ranking is trailed by Central America with 15.17 million users, recording a difference of 58.09 million users to South America.

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Number of users of mobile POS payments in Latin America from 2020 to 2028, by region (in millions)

Characteristic	South America	Central America
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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

The Mobile POS Payments market refers to transactions made on mobile devices, such as smartphones or tablets, to process transactions at the point of sale. The payment in this case is made by a contactless interaction of the smartphone app with a suitable payment terminal belonging to the merchant. The data transfer is made via wireless standard NFC (Near Field Communication) or by scanning a QR code to initiate the payment. Users pay for a purchase via a mobile wallet application by triggering an online bank transfer or by using a digitally stored credit or debit card (Host Card Emulation). mPoS payments are becoming increasingly popular as they allow businesses to offer more flexible and convenient payment options for customers, and can also help to reduce costs and improve efficiency. Additionally, mPoS payments can also provide businesses with valuable data and insights into customer behavior and purchasing habits.

Additional Information:

Key players in this market are ApplePay, Google Wallet and Samsung Pay.

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