Latin America Mobile Payments Industry Overview
The Latin America Mobile Payments Market is highly competitive and fragmented with the presence of significant market players such as Mercado Pay, PIX, Rappi and PicPay. The companies are introducing new offerings and continuously investing in making partnerships and acquisitions along with product development to increase the market share. A few of the recent developments by the companies are listed below.
- June 2022 - Zippi, a Brazilian fintech that came to market in 2021 with a credit solution via PIX (Brazil's real-time payment system) for self-employed people and micro-entrepreneurs, announced a USD 16 million (about BRL 82 million) funding round. Series A was led by US fund Tiger Global and followed by Volpe Capital, Y Combinator, Globo Ventures, Rainfall Ventures, Mantis, MSA Capital, Hummingbird, Soma Capital, and founders of companies such as Robinhood, Faire, Plaid, Kavak, Credits, GoJek, and Cobli.
- November 2021 - Mastercard acquired Arcus FI to support the real-time payment applications and delivery of bill pay solutions across Latin America. With offices in Mexico City and New York, Arcus helps enable cash-in, cash-out services, and bill pay for some of the biggest retailers, billers, fintechs, and traditional financial institutions in the U.S. and Mexico, with expansion into Latin America. Its flagship solution, the Arcus Pay Network, has access and connection to the largest retailers.
Latin America Mobile Payments Market Leaders
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Pix(Banco Central do Brasil)
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PicPay Payment Institution SA
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MercadoLibre SRL
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Nubank
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Pagbank(PAGSEGURO INTERNET S/A )
- *Disclaimer: Major Players sorted in no particular order
