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%.

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

• Why Mexico’s DiMo may not catch on as expected

• 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

• Where central bank digital currency (CBDC) investment is consolidating—and why

• 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

• With 20% of e-commerce revenue in Latin America lost to fraud, how digital ID can make a huge difference

• 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

Click below to watch highlights of the webinar:

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