Digital Payment Systems in Latin America Reach Millions, Boosting Financial Inclusion

Sun, 12 Apr 2026 10:02:00 +0200

Latin American countries are rapidly advancing in digital payments, with central banks creating instant-payment systems that are widely used by the population. Brazil's 'Pix' system, for example, is now used by 175 million people, allowing real-time transfers via QR codes or digital keys. Similarly, Argentina and Costa Rica have developed effective systems, enabling fast, traceable, and secure money transfers. These countries have benefited from not being hindered by outdated banking infrastructure, unlike the U.S., U.K., and Europe, where legacy systems make modernization complex. The widespread use of mobile phones in Latin America has accelerated adoption, especially in regions previously reliant on cash due to high banking fees and limited access. Digital payments also provide valuable data, helping small and medium-sized enterprises (SMEs) obtain credit that was previously difficult to secure due to limited transaction histories. Mexico is emerging as the next success story, with