Local payments driving LATAM’s online shopping boom

By Vriti Gothi

Latin America’s fast-growing eCommerce market is being defined by one clear priority: the ability to pay locally. dlocal’s report shows that 94% of online shoppers in Argentina, Brazil, Chile, Colombia, and Mexico consider access to payment options such as Pix, eWallets, and cash-to-digital solutions as “important” or “extremely important” when making purchases. Nearly seven in ten consumers also report that they are unlikely to complete transactions on websites that fail to offer their preferred methods of payment.

The report further highlights the accelerating shift toward alternative payment methods (APMs). In major markets across LATAM, APMs are expected to surpass card payments by 2026, a trend that mirrors the global trajectory where APMs are projected to represent 69% of all eCommerce transactions by 2029, accounting for more than $360 billion in value.

Carlos Menendez, Chief Operating Officer of dLocal, said, “Payments are inherently local. Our research confirms that success in LATAM eCommerce depends on meeting consumers where they are, offering the payment options they trust and use every day,” he said. “With our ‘One dLocal’ model, we simplify this complexity for global merchants, enabling seamless access to over 900 local payment methods across more than 50 markets.”

The research also captures shifting consumer preferences across the region. While Chinese eCommerce brands enjoy overwhelmingly positive perceptions, less than 2% of consumers reported a negative view brand loyalty is far weaker compared to shoppers in the United States. Instead, quality and affordability remain the key purchase drivers for LATAM consumers, while delivery speed, often a critical factor in markets like the U.S., was cited as a top consideration by fewer than 6% of respondents.

The study underscores the rising influence of young, digital-first consumers in shaping the retail landscape, further strengthening the case for merchants to localise their offerings. With Latin America projected to contribute 65% of global economic growth by 2035, the opportunity for international players to capture market share has never been greater. For FinTechs and merchants alike, adapting to the region’s diverse and evolving payment ecosystem is emerging as the central strategy to unlock LATAM’s eCommerce potential.