Coronavirus affects digital payments development in Latin America, reports yStats.com Hamburg-based secondary market research specialist yStats.com has released a new report, titled “Latin America Online Payment Market & COVID-19’s Impact.” According to the report’s findings, bank card was the leading payment method used by online shoppers in this region. Full report here: https://bit.ly/2VxeeMk

1. PRESS RELEASE
Hamburg, April 28th
, 2020
Coronavirus affects digital payments development in Latin America, reports
yStats.com
Hamburg-based secondary market research specialist yStats.com has released a new report, titled “Latin America Online
Payment Market & COVID-19’s Impact.” According to the report’s findings, bank card was the leading payment method used by online
shoppers in this region.
Latin America’s Digital Payments Boosted During the Coronavirus Outbreak
Since the outbreak of the COVID-19 pandemic, online purchase transactions have been on the rise in countries including Brazil and
Mexico, according to information included in the yStats.com report. In Chile, online card payments for goods and services more than doubled at
the end of March 2020 compared to the same period in 2019. However, as the travel sector and in-store purchases are negatively affected by the
pandemic, the global trend is that total payments revenues would decline in 2020, but return to growth in 2021.
Cards Outpace Alternative Means in Latin America’s Online Retail
Bank card was the leading E-Commerce payment method payment method in Latin America. It outranked alternative payment means
such as cash on delivery, in-store payments and bank transfers in Argentina, Brazil, Colombia, Mexico, and other countries covered in the
yStats.com report. Digital payments solutions are also gaining traction. For example, payment transactions processed by Mercado Pago surged
by more than +50% in 2019, with more than half of this volume processed outside of the E-Commerce marketplace operated by Mercado Libre.
For further information, see: https://www.ystats.com/market-reports/latin-america-online-payment-methods-2020/
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to
providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our
areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover
a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide
selection of market reports, we also provide custom market research services.
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including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an
expertise in the areas of B2C E-Commerce and Online Payment.