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El Salvador’s Bitcoin-as-Currency Experiment Ends 2021 on a Low Note
Published on january 2, 2022
Without a fairly sharp jump, bitcoin is going to end the year below the $51,000 level at which El Salvador bought its first 200 BTC, a somber note for the largest cryptocurrency’s turn as an official national currency. But then, El Salvador’s President Nayib Bukele hasn’t had much luck with his experiment. The initial announcement […]
[...] Deep Dive: How Legacy FIs Can Look to PSPs, Digital Transformation to Compete in Latin America
Published on december 27, 2021
Consumers in Latin America have embraced online banking tools in increasing numbers over the past few years, and the pandemic is accelerating this trend as more consumers test out emerging digital-first financial solutions. Recent studies highlight banking services’ low penetration in the region, however, with one report finding that 70% of LatAm consumers do not […]
[...] Bitcoin Daily: Paraguay Lawmakers Could Approve Crypto Regulations in 2022; Bitcoin’s ‘1%’ Controls Most of the Cryptocurrency’s Wealth
Published on december 23, 2021
Cryptocurrency in the South American nation of Paraguay could be facing new rules in the new year. The measure was approved by Paraguay’s Chamber of Senators last summer. Under the legislation, virtual assets are defined, and a license would be required to mine cryptocurrencies. It will now be considered by the country’s Deputy Chamber. The […]
[...] How 2021’s Digital Coming of Age Changed the Latin American Banking Space for Good
Published on december 23, 2021
Latin American consumers are ditching legacy banks in favor of service providers that better meet their mobile-first banking needs. In the Digitizing Payments In Latin American Playbook, Brad Liebmann, CEO of Brazilian FinTech alt.bank, discusses how outdated infrastructure is hampering the ability of legacy financial institutions (FIs) to satisfy consumers’ evolving needs.
[...] Paraguay Lawmakers Could Approve Crypto Regulations in 2022
Published on december 22, 2021
Cryptocurrency in the South American nation of Paraguay could be facing new rules in the new year. The measure was approved by Paraguay’s Chamber of Senators last summer. Under the legislation, virtual assets are defined, and a license would be required to mine cryptocurrencies. It will now be considered by the country’s Deputy Chamber. The […]
[...] LATAM Consumers Embrace Neobanks as Legacy Bank Infrastructure Stifles Digital Transformation
Published on december 22, 2021
A growing number of Latin American consumers are turning to digital-first payment and banking solutions in the wake of the pandemic, with one recent report finding that 62% of consumers in the region stated they used less cash last year compared to 2019. The use of contactless credit and debit cards also rose during the […]
[...] Latin America’s Embrace of eCommerce, Digital Payments Marks Cultural Shift
Published on december 21, 2021
The adoption of digital payments and the number of people who are doing their shopping online has accelerated rapidly in Latin America this year. While the region still trails most parts of the world in terms of the percentage of people who have access to modern banking services, the gap is narrowing. For example, a […]
[...] Deep Dive: How Chile Could Serve as a Payments Innovation Blueprint for Latin America
Published on december 17, 2021
The digital payments revolution might be less apparent in Latin America (LatAm) than in other regions of the world. Only 18% of Latin Americans leverage a FinTech, digital wallet or neobank to make purchases, compared to 46% of consumers in the Asia-Pacific (APAC) region, for example. Similarly, only 41% of consumers in Argentina, 59% in […]
[...] Mercado Libre Acquires POS Provider Redelcom
Published on december 16, 2021
The Latin American eCommerce giant Mercado Libre says it has acquired Redelcom, a Chilean payments service provider. “Mercado Libre seeks to consolidate its value proposition in Chile and enhance the growth of its multiple payment tools and digital financial solutions,” the Argentine company said in a news release Monday (Dec. 13). “This is part of […]
[...] Chilean eCommerce Platform Justo on Chile’s Trendsetting Role in the Digital Payments Ecosystem
Published on december 16, 2021
Payment providers are working to bolster Latin America’s sluggish digital payment adoption rate, and many are starting their campaigns in Chile. In the Digitizing Payments In Latin America Playbook, Josip Jercic Hollub, of Chilean eCommerce platform Justo, explains why Chile’s high banked rate and enthusiasm for digital payments makes it an ideal testbed for new technologies in Latin America.
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