South America Digital Payment Market

The SAM digital payment market is expected to grow from US$ 2,426.02 million in 2021 to US$ 5,842.24 million by 2028; it is estimated to grow at a CAGR of 13.4% from 2021 to 2028.

The rising demand of the diverse demands of customers, retailers, banks, telecom providers, and gadget suppliers is the primary reason for emerging digital payment model's success. It enables them to go to various locations, such as concerts, trade exhibits, and food trucks, where they may receive money from clients. This is accomplished by properly implementing mPOS in the industry. Retailers may use mobile point-of-sale (mPOS) systems and associated software to improve consumer interaction, resulting in higher conversion rates and sales. mPOS refers to specific integrated devices such as smartphones and tablets that may operate as electronic POS terminals. Mobile POS deployments allow brick-and-mortar retailers to use pricing, product information, and inventory data for attaining omnichannel engagement, which, in turn, is likely to drive the demand for digital payment solutions in SAM during the forecasted period.

The presence of various developing countries in SAM makes this region one of the key markets for the future growth of digital payment solution providers. A rise in population, an increase in disposable income, a surge in demand for advanced technologies, and a huge focus on digital transformation are a few key factors expected to drive the growth of the market in SAM in the coming years. The high number of COVID-19 cases and deaths in major SAM countries, such as Brazil, Peru, Chile, Ecuador, and Argentina, slightly affected the market growth in these countries in 2020. Irrespective of the impact of the pandemic, IT and technology businesses have experienced growth in several countries in SAM due to the accelerated adoption of digital solutions and remote working models. Thus, the COVID-19 pandemic had a negligible negative impact on the digital payment market in SAM in 2020.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM digital payment market. The SAM digital payment market is expected to grow at a good CAGR during the forecast period.

SAM Digital Payment Market Revenue and Forecast to 2028 (US$ Million)
  

SAM Digital Payment Market Segmentation           

SAM Digital Payment Market, by Component

• Solution
  • Payment Gateway
  • Payment Processing
  • Payment Security and Fraud Management
  • Point of Sale
  • Payment Wallet
• Services
  • Professional Services
  • Managed Services

SAM Digital Payment Market, by Deployment

• On-Premise
• Cloud-Based

SAM Digital Payment Market, by Organization Size

• SMEs
• Large Enterprises

SAM Digital Payment Market, by Industry

• BFSI 
• Retail and Ecommerce
• Healthcare
• Travel and Hospitality
• Media and Entertainment
• IT and Telecom
• Others

SAM Digital Payment Market, by Country

• Brazil
• Argentina
• Rest of SAM 

SAM Digital Payment Market – Companies Mentioned

• ACI Worldwide, Inc.
• Adyen
• Financial Software & Systems Pvt. Ltd.
• Fiserv, Inc.
• Global Payments Inc.  
• PayPal Holdings, Inc.      
• PayU   

South America Digital Payment Market Strategic Insights

South America Digital Payment Market Segmentation Analysis

South America Digital Payment Market Report Highlights

South America Digital Payment Report Scope

South America Digital Payment Market Country and Regional Insights