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XII Edition of Trends in Payment Instruments 2023 Report

The evolution and growth in the payments sector is a reality that we have observed in recent years. The needs of increasingly digital users, constantly evolving regulations and technological developments are some of the factors with a significant impact on the trajectory of the ecosystem.


The report, a benchmark among industry professionals, provides a glimpse into the future of payments in both Europe and Latin America, based on data consolidated over the past twelve years.

We study the current landscape with a 360º view of industry trends:

+70 industry executives surveyed

365 days a year monitoring relevant news

12 countries analyzed in Latin America

+7,200 surveys of the banking population


In this 12th edition, we conducted a study based on six trends:

  • Digital payments: new proposals, new agents and the action of public administrations in a context as unique as the pandemic have facilitated a spectacular advance in the digitization of payments. However, globally only half of the population is equipped to adopt them, so the challenge of universalizing access and use remains. A challenge that has to be transformed into an opportunity by the payment industry.


  • The battle for control of the payment experience: Being in the consumer’s top-of-mind at a time of increasing diversification of providers and digital payment solutions is inherent to the current competitive context. Becoming the gateway – or exit door – and being visible and recognizable at the time of payment is now a priority to win the battle already underway to become the consumer’s preferred solution.


  • Buy Now, Pay Later: BNPL opens the way to contextual financing, and is a good example of integrating innovative attributes to a traditional service -payment in installments- that has managed to solve many of the “pains” of the purchasing process. Its spectacular growth confirms this. Extending the practice of integrating solutions to facilitate adoption, encourage usage, eliminate friction and offer personalized ad-hoc services in real time is an unstoppable industry trend, whose implementation requires agility.


  • Digital Currencies: Cryptoassets are, for 72% of industry voices and for 80% of people who would consider acquiring them, an investment asset and not a means of payment, much less an everyday one. Central bank digital currencies will be an everyday means of payment, and before 2030 in many geographies, the deployment of which is expected with the essential participation of banks.
  • New payment flows: Over the next decade, the focus of payment innovation will shift from the consumer segment to the many needs faced by the corporate segment, which differ according to size, industry, third-party relationships and geographic deployment. Mass, recurring, urgent, cross-border and immediate payments are examples of the immense and diverse flows that will be at the heart of the innovations of the near future.


  • Sustainable payments: The environmental impact associated with different means of payment will soon be a factor that will go beyond mere awareness to decision and action. The industry is in a phase of reflection and exploration of transformative initiatives, aware of the risk of greenwashing, which requires consistency and caution in the design and launch of products and solutions linked to ESG purposes or factors.

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