Latin American entrepreneurs are increasingly adopting digital payments, driven by the need to compete and grow in a constant evolution market.
The Digitization of charges It is a determining factor for the growth of ventures in Latin America, according to a recent private report presented by the Trendsity consultant. Both consumers and entrepreneurs consider it essential to offer digital collection methods for the success of a business.
The investigation, which surveyed 3,000 people in Argentina, Colombia and Mexico, highlights that although the cash remains the most used means in the region, The adoption of digital banks and Fintechs continues to rise. Currently, 47% of purchases to entrepreneurs are made through these methods, with transfers, QR payments and credit cards such as outstanding options.
Payment preferences in the region
In Argentina, 72% of people choose to pay with digital banks and Fintechswhile Mexico and Colombia There is a growing use of these technologies but the cash continues to predominate. 64% of the people surveyed consider that offering digital collection methods is essential for the success of a business.
Argentina leads the region in collection digitalizationwith 61% of entrepreneurs using digital banks and fintechs as a means of collection. In Mexico, adoption is lowerwith only 31% of entrepreneurs implementing these methods, while in Colombia, 47% already use these technologies.
Motivations and challenges for entrepreneurs
The report also reveals that the 87% of Latin Americans buy entrepreneurs in their daily livesand 7 out of 10 considers that doing so contributes to the economic and social development of the country. However, there are still challenges for the competitiveness of ventures, such as the lack of good promotions compared to large companies.
72% of those accessed that they would consider starting a business today or in the future, and access to credit is a key factor in this process.
Companies like Ulá They offer multiple collection solutions adapted to the needs of entrepreneurs, including Payment terminals, payment links, QR codes and e-commerce options. These solutions not only facilitate payments, but also expand opportunities for access to credit, allowing scalability and management of a greater volume of transactions.
The increase in the use of digital wallets is one of the main drivers of electronic commerce growth in recent years. This scenario, added to the perception of purchase to entrepreneurs as a synonym for investment in the country’s social and economic development, translates into new opportunities for entrepreneurs. In countries where a significant percentage of the population does not have access to traditional bank accounts, digital banks and Fintechs represent a possibility of expanding and reaching a broader audience.
Source: Ambito
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