Alternative Payment Methods

Discover how to optimize your transactions with alternative payment methods in Latin America. Learn how to expand your business with Rebill and offer the best payment options to your customers.

Boost your business with alternative payment methods

In a market as diverse and dynamic as Latin America, offering alternative payment methods (APMs) is essential to reach more consumers and maximize sales. APMs are rapidly gaining ground in the region, providing secure, fast and convenient options that are tailored to local preferences and needs.

Why choose alternative payment methods?

Diversity and growing adoption

In emerging markets, alternative payment methods are leading financial inclusion and the digitization of payments. In Latin America, APMs accounted for 40% of digital commerce in 2022 and this figure is expected to continue to grow. Offering APMs is crucial to serve unbanked consumers and those who prefer more accessible payment methods.

Market expansion

By accepting a variety of payment methods, companies can access a wider and more diverse market, increasing their sales opportunities and improving customer satisfaction. According to studies, merchants gain an average 30% increase in their total addressable market (TAM) by offering APMs.

Alternative payment method solutions in Latin America

Digital wallets

Digital wallets such as Mercado Pago, Nequi and Yape are revolutionizing digital commerce in Latin America. These solutions enable fast and secure payments, and are especially popular among young consumers who prefer not to rely on traditional banks.

Cash payments

Cash payment methods, such as Boleto in Brazil, OXXO in Mexico, PagoEfectivo in Peru and Pago Fácil in Argentina, remain key in the region. They enable consumers to make cash payments at physical points of sale, which is crucial for those who do not have access to traditional banking services.

Instant bank transfers

Instant bank transfers, such as SPEI in Mexico, PSE in Colombia and PIX in Brazil, are rapidly gaining popularity. They offer a secure and efficient alternative to credit cards, allowing consumers to transfer funds directly from their bank accounts.

Buy now, pay later (BNPL)

The "buy now, pay later" model is emerging as an attractive alternative for consumers in Latin America. This method allows consumers to make purchases and pay for them in installments, without the need for a credit card. In 2022, BNPL had a 300% growth in digital commerce in the region.

Latin American alternative payments market data


PIX: More than 70% of the adult population uses this instant payment method.

Boleto: The best payment alternative via voucher or cash for the Brazilian consumer.


SPEI: Real-time bank transfers.

OXXO: Popular cash payment method throughout the country.


PSE: Instant bank transfers.

Nequi: The fastest growing digital wallet turned neobank


Pago Fácil: Very popular cash payment method.

Increasing adoption of digital wallets such as Mercado Pago, MODO, Ualá, among others.


PagoEfectivo: Cash payment method with more than 100,000 payment points nationwide.

Yape: The digital wallet preferred by more than 15 million Peruvians.

Benefits of alternative payment methods

Higher conversion rate

Offering a variety of payment methods increases consumer confidence and improves conversion rate. Rebill's unique voucher designs and communication flow have increased the conversion rate by 20 percentage points.

Access to more consumers

By accepting APMs, companies can reach a greater number of consumers, including those who do not have access to credit cards or prefer to pay in cash.

Risk reduction

Alternative payment methods can reduce the risk of fraud and chargebacks, as transactions are often more secure and verifiable.

Cash flow optimization

Instant and real-time payments enable companies to better manage their cash flow, facilitating faster reinvestment of revenues.

Growth and adoption of APMs in Latin America

Alternative payment methods are accessible, secure, effective and widely adopted in emerging markets, where they are growing faster than cards. In Latin America, APMs accounted for 42% of digital commerce volume in 2023, up eight percentage points from two years earlier.