Ask most fintech people which Latin American markets matter and you get two words before they finish their coffee: Brazil and Mexico. I find that a little maddening, because three countries are doing things right now that deserve far more attention. Colombia is changing which payment method sits on top. The Guide to Accessing Latin America forecasts e-wallets climbing from 18% of e-commerce in 2023 to 31% by 2027, while credit cards slide from 27% to 21%. Build for the Colombia of 2027. Peru is still mid-table in size, yet the same guide projects its e-commerce growing from $25 billion in 2023 to $63 billion by 2026. Momentum and coverage point in different directions there. Mexico gets plenty of attention for the wrong reason. Its unbanked share fell from 64.6% in 2017 to 52.8% in 2024, which means a whole generation is forming its payment habits right now. You earn this region country by country.
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