The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Treasury

LatAm payments: PayU enjoys e-commerce boom during pandemic

Data provides quantification into central but opaque market trend; PayU plans to add credit services to clients’ customers at check-out.

covid-online-shop-mask-istock.png
Photo: iStock

Proprietary data provided to Euromoney from digital payments platform PayU has quantified the dramatic growth in the adoption of e-commerce in Latin America during the coronavirus pandemic.

The global payments processor has been active in seven Latin America markets since 2012, and in the first seven months of 2020 processed more than 210 million transactions for more than 25,000 merchants across Argentina, Brazil, Chile, Colombia, Panama, Peru and Mexico.

In the first seven months of 2020, PayU’s regional customers saw a 71% increase in the number of unique buyers, a 62% increase in the number of transactions and total sales volume was up 49%.

The pandemic has steepened the curve of what is a secular trend towards much greater adoption of e-commerce
Mario Shiliashki, PayU
Mario_Shiliashki-PayU-514.png

The fastest-growing markets were Peru, Brazil, Argentina and Chile, with annual increases in online sales in June 2020 of 225%, 195% 165% and 131% respectively.

“We started 2020 with e-commerce in most [Latin American] countries having small single-digit market shares of total sales and we ended the year with all countries up by at least 100%,” says Mario Shiliashki, head of payments at PayU.

“The


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree