The Conversation (0)
- Cash remains relevant where digital acceptance is limited, according to 47% of consumers
- Debit leads everyday payments in LAC, with 60% of consumers using it for daily transactions
- 95% of digital users say security is important when choosing how to pay, reinforcing trust as a key condition for growth
A new Mastercard study on the state of digitalization and financial inclusion in Latin America and the Caribbean (LAC) reveals a region entering a new phase of financial progress. Digital participation is now mainstream, but the next phase of financial inclusion and sustainable, inclusive economic growth will depend not on access alone, but by how confidently and consistently people and small businesses can use digital payments to manage daily life, grow, plan for the future, and ultimately achieve financial health.
Across LAC, 89% of consumers now qualify as digital users, signaling a significant milestone in the region's financial and digital evolution. At the same time, momentum continues to build among those still outside the ecosystem, with 68% of non-users saying they are "somewhat or very likely" to adopt digital payments in the future. This reinforces that as adoption scales, the real test of inclusion is shifting from access to everyday usability – the ability to pay, earn, save, and transact with confidence across daily needs, from groceries, and transportation, to services, and other daily necessities wherever life happens.
" Digital participation in Latin America and the Caribbean has reached a new level, and inclusion is no longer just about bringing people into the financial system – it's about making sure the system works for them every day," said Andrea Scerch, President, Mastercard Latin America and the Caribbean. "From paying for groceries or a coffee to commuting or managing household expenses, the focus must be on making digital payments work reliably in the moments that matter most."
Debit: The catalyst for consistent digital lifestyles
Debit has emerged as the region's most relevant and trusted everyday payment tool, anchoring digital behavior across daily transactions. In fact, debit plays a central role in enabling these everyday transactions, particularly in high-frequency categories:
- Groceries (34%)
- Restaurants and cafés (33%)
- Phone bills (27%)
- Ride-sharing services (26%)
Yet the ability to rely on digital payments consistently remains uneven across the region. In many of these moments – especially in small, local, or informal settings – limited acceptance forces consumers to rely on cash. Closing this gap is essential to improving financial outcomes on both sides of the transaction.
Cash remains stubbornly present in high‑frequency daily moments. Nearly half (47%) of consumers used cash in the past six months. Consumers are clear about what they want next: 87% wish more stores and people accept digital payments, and 59% say that at least once a month they must use cash when they would rather pay with a card or digital device. This acceptance gap represents one of the biggest opportunities in advancing financial inclusion at scale across LAC.
Trust and security are also conditions for growth. Among digital users, 95% say security is important when choosing how to pay and 94% cite trustworthiness as important. For consumers who are hesitant, stronger security features are a key lever: 43% say advanced security would make them more likely to use digital payments, alongside clearer protection in case of problems (38%) and better customer support (36%).
Mastercard's next commitment: Advancing financial health for people and small businesses
As digital participation expands across the region, Mastercard is evolving its approach to financial inclusion. Building on its long‑standing efforts to expand access, the company is now focused on helping people and small businesses move from access to financial health. Reflecting this shift, Mastercard has committed to connecting and protecting 500 million more people and small businesses on their pathways to financial health by 2030. This commitment recognizes that financial progress is a journey – from making everyday payments and building transaction history to gaining access to tools that help households manage expenses and enable businesses to grow, absorb shocks and plan.
Closing the acceptance gap: Building a secure, frictionless ecosystem for all
Mastercard is focused on closing this gap by expanding digital acceptance in ways that deliver shared value across the region. Through continued collaboration with financial institutions, merchants and governments, Mastercard continues to deliver secure, frictionless payment experiences, such as Contactless, Tap on Phone and Click to Pay, helping merchants of all sizes – from large retailers to neighborhood businesses – accept digital payments easily and securely, meeting consumers where they are.
By reducing friction at checkout, strengthening security, and enabling acceptance in everyday environments, these solutions help ensure that digital payments work reliably across physical and digital touchpoints – supporting local commerce, small businesses, and broader economic participation.
"The inclusion conversation has evolved beyond access. Today, people across the region recognize the benefits of digital payments – speed, convenience and safety," Scerch added. "That's why we're focused not only on expanding acceptance, but on helping people and small businesses participate confidently and safely in the digital economy – whether in large urban centers or local neighborhood businesses. As part of Mastercard's commitment to connect and protect 500 million more people and small businesses by 2030, we're working to ensure the benefits of digital payments reach more communities, more consistently, across Latin America and the Caribbean ."
As LAC advances toward a more digital economy, the findings send a clear signal: the future of financial inclusion will depend on how easily people can pay for the things that matter most in their daily lives, wherever they are.
Scope and methodology of research
The study was led by Mastercard and conducted by the independent research agency Many Minds Group. In March 2026, a quantitative online survey was carried out among 3,558 adults across 10 Latin American and Caribbean countries: Argentina, Colombia, Costa Rica, the Dominican Republic, Guatemala, Jamaica, Mexico, Panama, Peru, and Puerto Rico. The sample included banked consumers and/or consumers who use financial services, representing the general online population aged 18 to 55+.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
www.mastercard.com
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Media Contact
Andrea Denadai
andrea.denadai@mastercard.com
+1-305-536-9648
