2024 Payments Megatrends for the Americas

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    Insights » Americas » 2024 Payments Megatrends for the Americas

    As a whole, Canada, the United States and Latin America account for 33% of the world’s GDP, with a highly digitized population (a total of 1 billion, around 13% of the world’s population) and a high rate of adults in the financial system: over 80%.

    Financial and Technological Penetration in Latin America versus North America, 2023

    Recently, PCMI’s team analyzed global payments trends, focusing on the megatrends that promise to have the biggest impact on ecosystem players as 2024 unfolds. The team revealed the results of its analysis in a series of webinars covering megatrends in the Americas, APAC and EMEA. The webinar on the Americas lasted over 1 hour and revealed the top payments trends in the United States, Latin America and Canada in 2024 and beyond.

    Among the key data points and insights for payments professionals covered in the webinar:

    • 5 key factors that could drive the success of FedNow—along with another 8 disadvantages that could derail its success

    • What is next with Brazil’s Pix as it grows to handle xborder, recurring payments and even offline transactions

    • 3 missing elements from A2A payments that make consumers prefer to use cards

    • How alternative payment methods will make SMEs crucial in promoting financial inclusion in the Americas

    • US$156 billion reasons that remittances offer compelling opportunities for payments players

    • How digital wallets are powering innovation in money movement in Latin America—yet lacking groundbreaking technology in 2 important areas

    • A breakdown of where important markets in the Americas are in open finance development, including the US, Colombia, Brazil and Mexico

    • 4 use case categories for open finance and how it improves payment initiation and data sharing

    • Examples of the state of digital IDs in Colombia and Brazil and what this means

    • Why credit will eventually detach from credit cards

    • The missing link for RTP systems that have held back adoption in many markets

    And much more.

    Click below to download the presentation with the data

    2024 Payments Megatrends for the Americas - Cover presentation

    Click below to watch highlights of the webinar:

    Next steps

    Contact us to leverage our deep understanding of Americas payments to your advantage. Our team can help yours identify new opportunities, prepare for these megatrends, anticipate other marketplace shifts and generally strengthen your results in these markets.


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    Sources

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    PCMI
    info@paymentscmi.com

    Payments and Commerce Market Intelligence (PCMI) is a strategy consultancy specializing in the global payments industry.