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Online retail sales made through mobile devices in Latin America were estimated at about ** billion U.S. dollars in 2021, growing by almost ** percent compared to the previous year. By 2025, m-commerce sales in the region are forecast to near *** billion dollars.

Latin American mobile commerce at a glance

Mobile devices have unlocked the doors to online shopping for many Latin Americans who did not previously have the tools or knowledge to engage in this activity. The uptake of m-commerce has been such that forecasts suggest it will account for more than half of the region’s total online retail sales by 2022. Brazil and Mexico are far and away leading this movement in Latin America, generating ** billion and ** billion U.S. dollars, respectively, in mobile commerce revenue in 2020.

A trend driven by payment solutions

Fintechs have played a fundamental role in increasing digital and financial inclusion across the region. Up to mid-2021, Latin America and the Caribbean had close to *** ³¾¾±±ô±ô¾±´Ç²Ô fintech users for digital payments, while over ** million used neobanks. Mobile wallets, for instance, have made it considerably easier to purchase through mobile devices, allowing users to pay with just a few taps of their fingertips. In 2020, the most popular banks and digital wallets in the region were Brazil's PicPay and Nubank, followed by Mercado Libre's platform, Mercado Pago.