tech
April 30, 2026
Technology: 89% of Latin Americans now use digital payments, according to new Mastercard study
Platforms drive the modernization of financial processes in sectors such as social welfare, hospitality, and recreation. Photo: iStock
TL;DR
- 89% of consumers in Latin America and the Caribbean identify as digital users, marking a new stage in financial inclusion.
- The focus is shifting from mere access to the effective and daily use of digital payments for both consumers and small businesses.
- Debit cards are the main driver of digital payments, frequently used for purchases in supermarkets, restaurants, and for paying bills and transport.
- Cash remains significant, with 47% of consumers using it in the last six months, primarily due to low digital payment acceptance in small or informal businesses.
- A majority of users (87%) desire wider digital payment acceptance, and many (59%) are sometimes forced to use cash despite preferring electronic methods.
- Security (95%) and reliability (94%) are key factors for digital users, while improved security (43%) could drive adoption among non-users.
- Mastercard has pledged to connect and protect an additional 500 million people and small businesses by 2030 to promote financial health.
- The future of financial inclusion in the region depends more on the ease of daily use rather than just service availability.