Mobile payment market size in 4 countries in the Americas in 2020, with 2025 forecast

Published by Statista Research Department, May 29, 2024
Mobile payments in Brazil and Mexico are expected to grow at a faster pace than in the United States or Canada come 2025. Somewhat unsurprising, the transaction volume in the U.S. was much higher than the three other countries the source mentioned from the Americas. Proximity mobile payment adoption compared to other individual countries in the world was relatively high in both the United States and Canada. The compound annual growth (CAGR) between 2020 and 2025, however, was especially high for Brazil, reinforcing a trend that mobile payment use in Latin America is set to increase in the coming years.

Transaction volume of mobile payments in selected countries in North America and Latin America in 2020 with a forecast for 2025 (in million U.S. dollars)

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Source

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Release date

July 2021

Region

North America, LAC

Survey time period

May 2021

Special properties

The source did not provide figures for other Latin American countries - such as Argentina or Colombia; The source excluded P2P wallets or wallets that can only be used on a single website or app."

Supplementary notes

The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."

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Statistics on " Digital payment types in the United States "

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Other statistics that may interest you Digital payment types in the United States

Market share

7

Penetration

8

Biggest brands

8

Users

8

Transaction value

6

Number of transactions

7

Miscellaneous

5

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Topics

Digital payments landscape in MexicoMobile payments with digital walletsFintech in MexicoE-commerce in Latin AmericaE-commerce in Mexico
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