The Argentine e-commerce market is expected to double the value of transactions, from 19 billion dollars in 2022 to 41 billion dollars in 2026.
According to estimates from the report “Global Payments” carried out by FIS Worldplay for the year 2023, Argentina is expected to be the market for electronic commerce fastest growing worldwide, close to 21% CAGR (Compound Annual Growth Rate, or compound annual growth rate) until 2026.
The market is expected to electronic commerce of Argentina double the value of transactions, going from 19 billion dollars in 2022 to 41 billion dollars in 2026, growing with the fastest growth rate among 40 countries worldwide, according to a report by the company financial technology FIS.
The annual report Global Payments Report of FIS Worldpay examines the trends of current and future payment in 40 markets. The findings of the 2023 report show that by 2022, explosive growth in ethe global e-commerce that took place during the first two years of the pandemic slowed down in 2022, but only slightly, with the value of the trade transactions e-mail growing by 10 percent from 2021 to 2022 to reach more than 6 trillion dollars.
Argentina is the third largest e-commerce market in Latin America, behind Brazil and Mexico, and has the fastest projected e-commerce growth rate – 21% CAGR through 2026 – of all markets covered in this year’s report . This growth has been driven by the mobile commercewhich accounted for 60% of the value of e-commerce transactions in 2022.
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Juan Pablo D’Antiochia, Worldpay Senior Vice President for Latin America, said: “Argentina’s e-commerce market continues to grow at impressive rates and shows no signs of slowing down. strong growth and a digitally savvy society make Argentina an attractive market for e-commerce players to reach new customers and drive new business.”
Payment trends in Argentina
The alternative payment methods (APM, for its acronym in English for ‘Alternative Payment Methods’) are beginning to quickly conquer the market. When paying online, Argentine consumers prefer to use cardsas credit (36%) and debit (18%) cards combined account for an absolute majority of e-commerce transaction value in 2022.
The digital wallets They are also growing in Argentina. With almost two dozen brands competing in this fast growing payments market. They are projected to grow at a 26% CAGR in the electronic commerce and a 21% CAGR at points of sale through 2026.
It is expected that the payment growth A2A continues between 2022 and 2026, with a compound annual growth rate (CAGR) of 24%. This growth is significant among payment methods.
The move to A2A shows that merchants are looking to reduce the cost of payment acceptance avoiding legacy card rails. For this to be successful, they need to draw consumers in with them, and incentives and directives, such as Announcement “A” 7514, will help to achieve this.
Source: Ambito
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