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The Latin America mobile payment market exhibited robust growth during 2015-2020. Looking forward, IMARC Group expects the market to continue its robust growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Mobile payment is used to initiate, confirm and authorize financial transactions in exchange for goods and services. It is conducted through various payment instruments, such as bank accounts, debit or credit cards, gift cards and mobile wallets. It generates a code and sends it over the air (OTA), which keeps payment information encrypted. At present, mobile payment is gaining traction in the Latin America region on account of the rising utilization of smartphones and the increasing penetration of the internet.
Mobile payment is more secure, convenient and easy-to-use as compared to other forms of payments. This, along with the rising trend of cashless payment solutions, represents one of the major factors bolstering the market growth in the Latin America region. Moreover, market players are integrating mobile payment solutions with advanced technologies, such as wearables, biometrics and blockchain, to enhance security, which, in turn, is positively influencing the market growth. Furthermore, the growing number of online transactions due to the thriving e-commerce sector and the sudden spread of the coronavirus disease (COVID-19) is anticipated to strengthen the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America mobile payment market, along with forecasts at the regional and country level from 2021-2026. Our report has categorized the market based on mode of transaction and application.
Breakup by Mode of Transaction:
Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2020|
|Segment Coverage||Mode of Transaction, Application, Country|
|Countries Covered||Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option|
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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