Solve payments in Latin America without sacrificing easy integration or payment methods availability
In this article we outline Rebill's very own mission to deliver world-class payment solutions for an accessible and truly cross-border digital economy in the region.
Don't miss out on new payment trends across Latin America
Latin America is rapidly shifting away from cash payments and embracing digital methods that redefine how consumers and businesses interact. As this McKinsey report highlights the cash preference is dropping significantly in favor of debit, credit card, digital payments and alternative payment methods:
Amplified by a generational shift where digitallynative consumers increasingly demand flexible, convenient, and secure digital transactions to access the world economy, this transformation is driven by technology and represents a massive opportunity for companies from across the region and beyond, to grow in Latin American countries outside their home borders.
However, due to the nuances and diversity of the LatAm Market,this unprecedentedopportunity has traditionally only been captured by large corporations with the resources and the scale to invest in cross-border financial infrastructure as well as costly payment processors integrations to offer the proper payment methods across countries in Latin America.
SMEs are left relying on leading payment services that, while offering seamless payment infrastructure integration and an acceptable mix of payment methods available for domestic transactions, it falls short in enabling regional expansion due to limited access to essential local payment methods across Latin America and the Caribbean for Cross-border transactions.
And to address precisely this challenge, Rebill was created—bringing flexible, developer-friendly solutions built specifically for Latin America. We empower SaaS, Edtech, e-commerce, and other innovative digital businesses to scale effortlessly in LatAm, providing a payment experience that:
Seamlessly plugs into your existing systems
Is uniquely tailored to capture the advantages of hyper-localization.
We'll tell you a bit more about it here, but first, let's take a look at the biggest trends these companies can tap into:
Credit and debit card adoption leads the growth of Non Cash Payments
The use of debit cards has overtaken cash as the preferred payment method in Spanish-speaking Latin America, jumping from 16% in 2021 to 36% in 2023, while credit cards also jumped 11 points . Debit and credit cards have surged for many reasons including:
They represent 30 to 40% of bank net revenues
Local debit card* programs lead by traditional banks as well as government-runned institutions, like Chile's CuentaRUT , stablished by Banco Estado.
Attractive installment options and loyalty programs offered by credit cards.
For digital businesses, this preference signifies an essential opportunity to offer frictionless integration of local card payment schemes, directly tapping into a rapidly growing market accustomed to card-based transactions.
*While certain local credit and debit cards are enabled for international transactions (Not all are), exchange rates aren't transparent and tend to be high, therefore Latin America's card holders tend to avoid using them for international payments.
Mobile payments are gaining ground
In markets such as Argentina and Peru, mobile payments have seen significant growth driven by their ease of use, security, and low costs. QR-code-based payments, particularly popular due to their simplicity, are transforming merchant-consumer interactions. Digital services that adopt and promote mobile-friendly payment methods, especially those leveraging QR codes, can capitalize on the growing preference among tech-savvy Millennials, unlocking valuable market segments.
Accelerated bancarization
In less than 3 years the proportion of people owning bank accounts in Latin America grew from 30-50% to 73% in 2021, and this number, is likely closer to 90% in 2025, thanks to fintech innovations in online banking and other financial services. With this growth, bank transfers and other digital payments are also pulverising records year over year.
Rise of alternative payment methods: Wallets and cash payments
Digital wallets have rapidly grown in several Latin American countries, becoming among the most widely used payment methods and significantly boosting financial inclusion. Solutions like Mercado Pago in Argentina, Yape in Peru, and Nequi in Colombia offer various payment options for online purchases, reshaping how consumers shift away from traditional payment methods and creating new opportunities for digital businesses in the region.
Even the "unbanked" population isn't a blocker to expand your business anymore. Services like OXXO or 7Eleven in Mexico, Boleto Bancario in Brazil or Pagofácil in Argentina, offer solutions for online payments. With Rebill, you can offer these payment methods without opening a local corporation.
Positive reinforcing loops
The adoption of one non-cash payment method in Latin America is strongly correlated with increased use of others, creating a reinforcing growth loop rather than cannibalizing each other. For digital services, offering multiple integrated payment methods—cards, mobile wallets, and digital platforms—ensures alignment with customer expectations, reduces friction, and captures broader revenue opportunities across diverse regional markets.
Major Payment methods in Latin America by country
Digital Wallets
Credit/Debit Cards
Cash Payments
Bank transfers
🇦🇷 Argentina
Mercado Pago, Ualá
Visa, Mastercard
Pago Fácil, Rapipago
CVU
🇧🇷 Brazil
PicPay, Mercado Pago
Visa, Mastercard, Elo
Boleto Bancário
PIX
🇨🇱 Chile
Mercado Pago, MACH
Visa, Mastercard, Transbank (Webpay)
Servipag, Multicaja
Webpay (via bank transfer)
🇨🇴 Colombia
Nequi, Daviplata
Visa, Mastercard
Efecty, Baloto
PSE
🇲🇽 Mexico
Mercado Pago, PayPal
Visa, Mastercard, Carnet
OXXO, 7 Eleven
SPEI
🇵🇪 Peru
Yape, Plin
Visa, Mastercard
PagoEfectivo, Western Union
Yape
Navigating Payment Partner Selection: Challenges and Solutions
Expanding into Latin America’s dynamic payments landscape presents an enticing opportunity but comes with distinct challenges. Businesses entering or scaling within the region quickly encounter a critical dilemma: choosing between the ease of integration offered by global payment platforms and the essential variety of local payment options necessary to succeed.
Selecting simplicity often means sacrificing crucial local payment methods—resulting in lost market share and untapped revenue potential. Conversely, prioritizing comprehensive payment options traditionally involves complex, costly integrations that can overwhelm businesses, slowing their momentum and innovation.
Scalable payment solutions to power growth
Adopting a scalable payment solution is vital for businesses seeking both simplicity and flexibility. Truly scalable solutions offer freedom from costly technical dependencies, enabling companies to expand quickly without heavy reliance on extensive IT resources or complicated integrations.
We all know the upside of such platforms:
Support various payment types (Although some are limited for local corporations)
Allow you to charge one-time as well as recurring payments.
Can easily integrate with existing business software.
The emphasis is on flexibility, allowing businesses to: innovate rapidly, experimenting with pricing strategies , tailoring offerings to customer demands effortlessly.
Major global payment solutions like Stripe will check all these boxes, but with a trade off: You won't be able to offer local payment methods widely used in Latin America, substantially limiting your chances of success when you are looking to expand your business in LatAm, and this is precise the focus of the next challenge:
Localized payments landscape in Latin America
At this point you already know that Latin America's market is extraordinarily diverse, payment gateway hyper-localization vital for market penetration. Each country in the region demonstrates unique consumer payment preferences—ranging from popular instant payment systems like Brazil’s PIX, to local debit and credit schemes, digital wallets, and traditional payment methods such as cash-based vouchers used extensively in online shopping.
Achieving meaningful penetration demands solutions designed specifically for Latin America. Traditional individual integrations and cross-border payment platforms require significant resources and investment.
Therefore, adopting payment platforms that offer deep hyper-localization capabilities becomes critical for companies aiming to fully capture market share, ensuring they deliver a superior payment experience by seamlessly integrating a variety of locally preferred payment methods without sacrificing innovation or agility.
Backed by YC—the renowned startup incubator that launched Stripe—other prominent fintech investors, and trusted by leading businesses already thriving across Latin America, Rebill empowers your business to confidently scale across every market in the region:
Rebill
Stripe
Cross-border payment platforms*
Self-managed client portal
Ease of integration
Hours or days
Hours or days
Months
Local payment methods in 🇦🇷, 🇨🇱, 🇧🇷, 🇨🇴, 🇲🇽, 🇵🇪 without a local corporation
.avif)
