Americas Market Intelligence

Despite the growing penetration of credit and debit cards, cash is still king in Latin America: nearly US$1 trillion in retail payments are made in cash every year, most of which is spent on small, everyday purchases.

Globally, contactless cards have proven to be the most successful payment method to digitize the low-value transactions usually made in cash. However, contactless payments are still in their early stages in Latin America, representing less than 1% of card-present transactions.

This free, highly detailed whitepaper—commissioned by Visa and prepared by Americas Market Intelligence—provides an overview of contactless payments in Latin America, the challenges to overcome and recommendations for achieving a robust contactless ecosystem.

Entitled The state of contactless payments in Latin America, the whitepaper opens with a comprehensive overview of this payment type. It then examines it from the perspectives of all key stakeholders: acquirers, issuers, merchants and consumers.

The state of contactless payments in Latin America 

A complimentary analytical whitepaper for payments professionals

The whitepaper’s key takeaways for Latin American payments professionals include:

  • An important success case for contactless in Latin America: why it worked and how
  • The major threat that QR codes and Chinese digital wallets present for Latin American banks if they ignore contactless payments
  • Lessons learned from failed contactless rollouts
  • Why mobile contactless is NOT the route to employ to promote mass adoption
  • What Latin American cardholders think of contactless
  • The best type of transactions for contactless payments
  • Which products issuers should migrate to contactless—and which NOT to
  • The ideal customers to target for contactless migration
  • The 4 keys for contactless payments to scale in LatAm include: 1) card issuance; 2) organizing a contactless card network; 3) merchant training and motivation; 4) consumer education

And many more helpful insights, all designed to help payments professionals, processors and financial institutions gain a deeper understanding of contactless payments and their potential for the region.