Credit cards are the most popular online payment method in Latin America, reveals

Infographic: Latin America Online Payment Methods: Full Year 2016 (PresseBox) (Hamburg, ), a Hamburg-based secondary market research company, has published a new report, “Latin America Online Payment Methods: Full Year 2016” that reveals that, along with the global popularity of credit cards being used by online shoppers, this is also the case in Latin America, although with some exceptions per country. Another key finding also predicts high growth potential amongst mobile payments in the same area.

International consumer surveys cited in the report show that credit cards are the top online payment method in Latin America and worldwide. However, there are deviations amongst consumer preferences in various Latin American countries.

About three-quarters of Brazilian online consumers prefer to make purchases with credit cards. Notably though, many of these credit cards are domestic, making up about half of 2015 E-Commerce sales in Brazil. Boleto Bancario came in second in terms of share, with international credit cards following in third. In Argentina, credit cards were also the leading used online payment method.

Mexico presents a different case. The report cites a survey from 2016 showing PayPal as the top online payment method, with debit and credit cards next. Both PayPal and debit cards improved by a few percentage points in share of digital buyers from 2015 to 2016, while credit card decreased.

According to information from the report, mobile payment usage is still at an early stage in this region, but is continuing to develop further. In a global survey of Internet users, the highest share of respondents who look forward to mobile payments came from Latin America.

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