The FinTech trade is flourishing in Colombia, with an expansion of 120 percent each year and investments of more than $1 billion in the past three years, according to a report from the FinTech Times. Brazil is the fifth-largest FinTech market worldwide, earning more than 70 percent more investment in 2020 than in 2019, according […]

In just two years, Latin American debit and credit card use rates have essentially swapped their market share positions.  In 2019, roughly 60% of the total purchases in the region were made through credit, whereas today, 65% of total sales from both physical and eCommerce stores are being done with debit cards, Gabriel Mejia, general […]

The global health crisis provided an immediate jolt for Latin America’s nascent online payments ecosystem. One recent study determined that more than 60% of the region’s consumers reduced their cash use by at least 20% last year, while another report found that 40% of Colombian consumers are now buying products digitally. eCommerce sales also are expected to reach […]

Cash use is so prevalent in many Latin American markets that consumers actually go out of their way to use it to make a payment or complete other online transactions that most people would do from their phones. As Sebastián Castro Galnares, co-founder at Kushki, told PYMNTS, it’s not uncommon for people to walk or […]

Oportun, a specialist in low- to moderate-income lending, which services many Latinos, has withdrawn its application for a bank charter. The withdrawal was voluntary, and a report from the company says the CFPB was looking into claims that Oportun had violated consumer protection laws with its collection practices, especially those which centered around hardship treatments […]