Consumer-based credit card transactions were the main contributor to Latin America's payments revenue, with a value six times that of commercial credit cards. The source compares the region to the world overall: Commercial made up 52 percent of global payments revenue, compared to 48 percent for consumer payments in 2023. This distribution was reversed for Latin America, with consumer-driven payments making up 55 percent of overall revenue and 45 percent of commercial payments. The source calls Latin America predominantly card-driven, possibly due to the major role of credit cards in Latin American e-commerce.
Total payments revenue in Latin America (LATAM) from 2014 to 2023, by customer segment and product delivered
(in billion U.S. dollars)
Characteristic
Commercial: Cross-border payment services (B2B, B2C) and documentary trade finance
Commercial: Net interest income on current accounts and overdrafts
Commercial: Fee revenues on domestic payment transactions and account maintenance (excluding credit cards)
Commercial: Credit cards
Consumer: Remittance services and C2B cross-border payment services
Consumer: Net interest income on current accounts and overdrafts
Consumer: Fee revenues on domestic payment transactions and account maintenance (excluding credit cards)
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Statista, & McKinsey & Company. (October 18, 2024). Total payments revenue in Latin America (LATAM) from 2014 to 2023, by customer segment and product delivered (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1418607/latin-america-payments-revenue-by-segment-and-type/
Statista, und McKinsey & Company. "Total payments revenue in Latin America (LATAM) from 2014 to 2023, by customer segment and product delivered (in billion U.S. dollars)." Chart. October 18, 2024. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1418607/latin-america-payments-revenue-by-segment-and-type/
Statista, McKinsey & Company. (2024). Total payments revenue in Latin America (LATAM) from 2014 to 2023, by customer segment and product delivered (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1418607/latin-america-payments-revenue-by-segment-and-type/
Statista, and McKinsey & Company. "Total Payments Revenue in Latin America (Latam) from 2014 to 2023, by Customer Segment and Product Delivered (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Oct 2024, https://www.statista.com/statistics/1418607/latin-america-payments-revenue-by-segment-and-type/
Statista & McKinsey & Company, Total payments revenue in Latin America (LATAM) from 2014 to 2023, by customer segment and product delivered (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1418607/latin-america-payments-revenue-by-segment-and-type/ (last visited November 23, 2024)
Total payments revenue in Latin America (LATAM) from 2014 to 2023, by customer segment and product delivered (in billion U.S. dollars) [Graph], Statista, & McKinsey & Company, October 18, 2024. [Online]. Available: https://www.statista.com/statistics/1418607/latin-america-payments-revenue-by-segment-and-type/
