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.