Credit card market share in POS and e-commerce in 5 countries in Latin America
Physical credit cards were popular for online shopping in Latin America in 2022, with the highest market shares found in Brazil and Argentina. Although the countries comparatively rank lower on credit card penetration than the rest of the world, the use of credit cards for online shopping is well established in the region. This likely due to providers like Mercado Libre, the Argentinian e-commerce company that is often compared to Amazon but for Latin America. In 2022, Mercado Libre generated a revenue of nearly six billion U.S. dollars in Brazil alone.
