🦙Bolivia🇧🇴: adoption of instant payments, QR codes and mobile wallets accelerates

🦙Bolivia🇧🇴: adoption of instant payments, QR codes and mobile wallets accelerates

Bolivians are rapidly changing their payment habits.

➡️ In the first half of 2026, 1.386 billion retail transactions were processed, 86.2% more than a year earlier (744.9 million). In terms of value, growth reached 15.6%, to approximately USD 69 billion, compared with USD 60 billion in 2025.

➡️ Mobile payments are growing rapidly: in 2022, they accounted for just 2% of total transactions, while in the first half of 2026 they already represented 44% (31% a year earlier). QR codes play a central role in this process.

➡️ The share of mobile wallets is also increasing: during the same period, approximately USD 5.3 billion was processed through them (+110.2% year-on-year), while transaction volume increased by 110.3%, reaching 579.9 million. Thus, mobile wallets accounted for 7.7% of total value and 41.8% of total retail transaction volume.

➡️ The growth of mobile payments is supported by infrastructure expansion: by the end of last year, 43 providers offered instant payment services via QR codes.

🔴 Context: Bolivia's population in 2026 is 12.749 million, while GDP stands at USD 80.74 billion. Since 2024, the country has also lifted the ban on cryptocurrency transactions, and in 2025, the volume of cryptocurrency transactions reached USD 430 million. At the end of July, Banco Mercantil announced the launch of the KOIN electronic wallet, the country's first tool for accessing digital assets.

#news #Bolivia