40 million people used online payments during the pandemic: study


The digital payments in Latin America they grew in ways we could never imagine. Sure, the health crisis needs to be considered, but e-commerce usage has skyrocketed beyond any prediction. That is at least reflected in the current study by Mercado Pago Online payments trends in Latam one year after COVID-19. The analysis carried out between April 2020 and March 2021 envisages the use of two online payment methods: the payment processor, which is used on millions of websites, and the use of the payment link, which is used to top up through social networks or chats.

This analysis was carried out in seven countries in the region (Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay) between April 2020 and March 2021 found that more than 40 million people used online payments, Brazil is the country with the most new users with 21 million, followed by Argentina with 8 million and Mexico with 4 million. Chile and Colombia each added 3 million, while Peru added a million new digital buyers. In addition, received more than 21 thousand entrepreneurs on-line During the last year.

40 million people used online payments during the pandemic: study
40 million people used online payments during the pandemic: study

“During the pandemic, payment and collection technologies on-line which we developed at Mercado Pago became a solution for companies to continue their operations. Due to the simplicity and accessibility of our methods, sellers have reached more digital customers who have dared to buy online for the first time, ”said Yamil Kuri, Mercado Pago’s online payments manager, in a statement.

Image: Courtesy of Mercado Pago

The payment link is preferred by SMEs

More than 682,000 entrepreneurs in Latin America used the payment link as an online payment method, compared to 306,000 who did so before the pandemic. In Mexico, the year-over-year increase was 61% and more than 14,000 SMEs used this method during the pandemic, which is characterized by receiving payments with a debit or credit card through a link sent to buyers from social networks or chats.

Image: Courtesy of Mercado Pago

On the other hand, 7 thousand sellers in Mexico They offered their products through websites and charged the Mercado Pago payment processor. The number doubled the number of 3,000 web marketers before the pandemic. Other Latin American countries such as Chile and Colombia have digitized 5,000 and 4,000 companies, respectively.

Image: Courtesy of Mercado Pago

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