📝 Why Latin America's unbanked population represents a key opportunity for operators

📝 Why Latin America's unbanked population represents a key opportunity for operators

Understanding local specificities is essential — from partnership relationships to regulatory requirements.

📌 Statistics and trends

🔵 26% of LATAM's population does not have a bank account.
🔵 According to forecasts, by 2028, the region's gambling market will reach nearly USD 10 billion, driven by the expansion of mobile devices, market regulation, and the large number of sports fans.
🔵 In 2025, 23% of POS spending in the region was made in cash, 9% above the global average.
🔵 Regulatory reforms have driven the development of the fintech sector.
🔵In Brazil🇧🇷, before the ban 96% of gaming transactions were conducted through #Pix.
🔵Digital payments can also contribute to fraud prevention and regulatory compliance.

📌 Leading countries by POS payment method

🔴Digital wallets — Argentina🇦🇷 (25%)
🔴A2A — Brazil🇧🇷 (32%)
🔴BNPL/POS — limited adoption, with the highest share in Brazil🇧🇷 (3%)
🔴Credit cards — around one-quarter of volume on average, with Mexico🇲🇽 leading (27%)
🔴Debit/prepaid cards — Chile🇨🇱 (39%)
🔴Cash — around one-third of volume on average, with Mexico🇲🇽 again leading (35%)

📎 Illustrative examples

🟡Chile🇨🇱: historically stable economy with a high proportion of customers holding bank accounts.
🟡Mexico🇲🇽: high levels of informal employment with cash-based payments, low financial literacy, and limited understanding of how banks operate.

🔜 Traditional banking services do not guarantee fast, uninterrupted transactions, which are essential during the gaming process. Supporting reliable local payment methods helps operators promote the adoption of digital financial services. For example, Argentinians🇦🇷 are accustomed to high inflation and tend to avoid holding savings in pesos; digital wallets such as Mercado Pago offer a suitable alternative.

🔜 The same principle applies in markets with low levels of financial literacy. In Mexico🇲🇽, the popular payment system OXXO allows users to switch between cash and digital payments without having to interact with a bank, while OXXO staff are well known within local communities. This is particularly important in rural areas, where the system provides residents with simple access to financial services.

🔜 The widespread use of mobile devices in Peru🇵🇪has enabled 70% of the country's population to use the #Yape digital payments platform. Thanks to the government's National Financial Inclusion Strategy, the number of Peruvians without access to banking services was cut in half between 2011 and 2024.

✏️ Key takeaways

Companies seeking to establish themselves in the LATAM market must consider the region's shift toward digital payments and adapt to local specificities. The main factors driving this process are customer trust, financial literacy, and employment dynamics.

#news #industryinsights #gambling #betting

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