The Latin American and Caribbean region is experiencing a boom in contactless payments, instant payments and the use of digital wallets such as Google Wallet. In Mexico, it is estimated that 36% of digital payments will be made through these types of wallets by 2025. In countries such as Colombia and Chile, more than 60% of consumers prefer digital payments because of their security and convenience. In Puerto Rico, 35% of point-of-sale transactions are contactless, reflecting a clear trend toward digitization.
Colombia is experiencing a boom in contactless payments, instant payments and the use of digital wallets such as Google Wallet. In the country, more than 60% of consumers prefer digital payments because of their security and convenience.
Evertec, a leading payment processor in Latin America and the Caribbean, has played a key role in advancing this progress. Its Placetopay platform provides secure integration customized to the commercial needs of each market, allowing consumers to use Google Pay for both online and in-store purchases seamlessly.
The new integration of Google Pay represents a milestone in Colombia’s digital payment evolution, expanding access to modern financial solutions that reflect shifting consumer preferences.
At Evertec, we understand that digital transformation in payments requires solutions tailored to each market, with robust technology that is accessible to both consumers and businesses. By integrating Google Pay into Placetopay, we are making transactions safer, faster, and more convenient. Our commitment is to continue leading innovation across the digital payments ecosystem in the region.”
Potential of the
Digital Payments Ecosystem
- payments: Latin America is rapidly adopting technologies such as NFC and QR codes, with significant growth in markets such as Colombia (+187%) in the last decade. Evertec, through Placetopay, supports these trends with reliable technology solutions that connect consumers with modern payment options.
- Smartphone penetration: it was estimated that more than 80% of Colombians own smartphones, according to the “Digital 2024: Colombia” report prepared by DataReport in early 2024, facilitating access to digital wallets. Evertec ensures that, with the integration of Google Pay as a payment option, it will improve the user experience throughout the region.
- Instant payments: Colombia and Brazil are leading the growth of fast transactions, with systems such as Pix, which has transformed bank transfers.
Toward a
Digital Future
While cash still represents up to 50% of transactions in some countries across the region, financial digitalization continues to advance. The integration of Google Pay into Placetopay is designed to address these challenges by adapting to local market dynamics and offering tailored solutions in local currency, backed by real-time technical support.
With this integration, Placetopay reinforces its position as a key player in the future of digital payments in Latin America and the Caribbean—delivering solutions that enhance convenience and build greater trust in the digital economy.