Payment in Chile Current Demand Behavior Analysis¶
Demand Behavior¶
The current demand behavior in the Chilean payment industry is characterized by a growing number of both individual (B2C) and business (B2B) consumers increasingly adopting digital payment methods, alongside a decline in the use of traditional methods like cash.
Detailed report on the number of individual and business consumers.¶
Individual Consumers (B2C):
The number of individual consumers utilizing the payment ecosystem in Chile is substantial and on an upward trajectory, particularly concerning digital channels. Chile has a high rate of financial inclusion, with 96% of adults possessing some form of financial product, such as a debit card, mobile wallet, savings account, or credit card. [9] This indicates a large base of potential and active users of electronic payment methods.
A significant driver of digital payment adoption among B2C consumers is the growth of e-commerce. In 2022, 12.7 million Chileans were e-commerce users, a figure projected to increase to 13.7 million by 2027. [29] The increasing number of online shoppers directly correlates with the demand for and usage of digital payment solutions like credit cards (60% of e-commerce spend), debit cards (20%), and bank transfers (9%). [4, 2] Mobile internet users, crucial for mobile payments and digital wallets, numbered approximately 22.8 million as of September 2024.
The use of digital wallets is also growing, with Mercado Pago alone having nearly 5 million customers in Chile. [15] While currently accounting for less than 10% of retail transaction volume, digital wallets are reported as the fastest-growing segment. [1]
Despite the strong shift towards digital, a small segment of the B2C population, particularly in rural or lower-income areas, still relies on cash for transactions. However, cash accounts for only 3% of total payments, which is the lowest among the top six markets in Latin America. [10] Servipag, a platform facilitating bill payments including cash options, handles approximately 9 million transactions monthly, indicating a continued, albeit diminishing, demand for non-digital payment methods among certain consumer groups. [1]
Business Consumers (B2B):
The number of business consumers, encompassing micro-merchants, SMEs, and large corporations, engaging with the payment ecosystem is also expanding, driven by the need to accept digital payments from B2C customers and the increasing electronification of B2B transactions. All established companies in Chile have been required to issue and receive electronic invoices since 2018, necessitating their interaction with digital payment and invoicing systems. [14]
The unbundling of the merchant acquiring market, historically dominated by Transbank, has led to increased competition and the entry of new acquirers like Getnet (Santander) and EVO Payments (in partnership with Bci), alongside non-bank acquirers like Kushki. [1, 24] This expanded landscape suggests a growing number of businesses now have access to and are utilizing electronic payment acceptance services. The number of active POS terminals is over 400,000, indicating a large base of businesses accepting card payments. [1]
Furthermore, the growth of the fintech ecosystem in Chile, with 348 active startups in 2024, many focused on payments and remittances, indicates increased development and availability of payment solutions catering to businesses. [7, 13] A significant percentage of these payment fintechs (42.9% in 2024) exceed USD 100 million in annual transaction volume, highlighting substantial B2B activity facilitated by these platforms. [7]
While specific aggregate numbers for all B2B payment users are not provided, the increase in electronic invoicing, the expansion of the acquiring market, and the growth of fintechs offering business payment solutions all point towards a rising number of businesses actively participating in and demanding digital payment services.
Table showing the growth/decline in the number of customers.¶
Based on the available data, the overall trend indicates growth in the number of customers utilizing digital payment methods across both B2C and B2B segments, coupled with a decline in cash usage.
| Customer Segment | Indicator | Trend (Growth/Decline) | Data Point / Projection | Source |
|---|---|---|---|---|
| B2C & B2B | Retail transactions per capita | Growth | Increased from 117 in 2018 to 279 in 2022. [1] | Value Chain Analysis |
| B2C | E-commerce users | Growth | 12.7 million in 2022, projected to 13.7 million by 2027. [29] | Americas Market Intelligence |
| B2C | Financial Inclusion | High & Stable/Growing | 96% of adults with a financial product. [9] | IMF eLibrary |
| B2C | Digital Wallet Users | Growth | Mercado Pago has nearly 5 million users; segment fastest-growing. [1, 15] | Value Chain Analysis, Finnovista |
| B2C & B2B | Cash share of transactions | Decline | 3% of total transactions (lowest in top-6 LatAm). [1] | Value Chain Analysis |
| B2B | Businesses using electronic invoicing | Growth (Mandated) | All established companies since 2018. [14] | NORBr |
| B2B | Businesses with electronic payment acceptance | Growth | Expansion of acquiring market, >400k POS terminals. [1] | Value Chain Analysis |
| B2B | Fintechs exceeding $100M transaction volume | Growth (Projected) | 42.9% in 2024, expected to rise to 60.7% by 2025. [7] | Finnovista |
| B2C & B2B | Mobile internet users | High & Stable/Growing | ~22.8 million as of Sept 2024. | Provided in context (not cited in text) |
Note: Direct aggregate numbers for all B2C and B2B customers across all payment types are not available in the provided reports. The table focuses on indicators reflecting the adoption and usage of different payment methods and services by these customer segments.
References¶
- APEXX Global. Payment Gateway Chile. https://apexx.global/payment-gateways/latam/chile/
- PCMI. Chile 2024: Digital Payments and Ecommerce Insights. https://paymentscardsandmobile.com/chile-2024-digital-payments-and-ecommerce-insights/
- Banco Central de Chile. Payment systems. https://www.bcentral.cl/web/bch/areas-de-accion/mercado-financiero/sistemas-de-pago
- GlobalData. Chile Cards and Payments - Opportunities and Risks to 2028. https://www.globaldata.com/store/report/chile-cards-and-payments-market-analysis/
- iupana. These are Latin America's instant payment systems. https://iupana.com/en/en-news/instant-payments/these-are-latin-americas-instant-payment-systems/
- FacilitaPay Markets. Chile. https://facilitapay.com/markets/chile/
- Finnovista. What You Need to Know About Chile's Fast-Maturing Fintech Market. https://blog.finnovista.com/en/what-you-need-to-know-about-chiles-fast-maturing-fintech-market
- TransFi. Best Online Digital Payment Platform Providers in Chile. https://transfi.com/blog/best-online-digital-payment-platform-providers-in-chile/
- GlobeNewswire. Chile Buy Now Pay Later Business Databook 2025: A $651 Million Market in 2024. https://www.globenewswire.com/news-release/2024/03/05/2839801/0/en/Chile-Buy-Now-Pay-Later-Business-Databook-2025-A-651-Million-Market-in-2024-Expected-to-Reach-871-Million-in-2025-Signaling-Robust-Growth.html
- IMF eLibrary. Fintech and Financial Inclusion in Chile in. https://www.imf.org/en/Publications/CR/Issues/2024/02/05/Fintech-and-Financial-Inclusion-in-Chile-in-544502
- ThePaypers. Chile: 2024 analysis of payments and ecommerce trends. https://thepaypers.com/reports/payments-and-commerce-market-guide-2024/chile-2024-analysis-of-payments-and-ecommerce-trends/748267
- PagSeguro. Chile | Boost your business in this fast-rising Latam market. https://pagseguro.com/international/chile
- Rebill. Best payment gateways in Chile (2025) | Comparison. https://rebill.com/en/payment-gateways-chile/
- NORBr. Payment methods in Chile. https://www.norbr.com/en/payment-methods-chile/
- Finnosummit. The Fintech ecosystem in Chile grows 49% over the last 18 months and stands as the most mature in the Latin American region. https://www.finnosummit.com/en/news/fintech-ecosystem-chile-grows-49-last-18-months/
- Ecwid Help Center. Payment options for Chile. https://support.ecwid.com/hc/en-us/articles/360000432464-Payment-options-for-Chile
- CPI. EVO Payments and Bci partner on card acceptance joint venture in Chile. https://cardspaymentsinnovation.com/latest-news/evo-payments-and-bci-partner-on-card-acceptance-joint-venture-in-chile/
- Market Data Forecast. Chile Cards and Payments Market Size, Share & Growth, 2033. https://www.marketdataforecast.com/data-reports/chile-cards-and-payments-market
- Rebill. Payment and subscription solutions for digital businesses in Chile. https://rebill.com/en/
- WordPress.org. Payment gateway in Chile – how to choose?. https://wordpress.org/news/2023/03/payment-gateway-in-chile-how-to-choose/
- Jeton Blog. Popular Payment Methods In Chile. https://jeton.com/blog/popular-payment-methods-in-chile
- Investment Executive. Scotiabank closes deal to buy Chile's seventh-largest bank. https://www.investmentexecutive.com/news/global-wealth/scotiabank-closes-deal-to-buy-chiles-seventh-largest-bank/
- eSIM Chile. Mobile Operators in Chile 2025. https://esimchile.net/mobile-operators-in-chile-2025/
- Auxadi. Chile: Increase in the Monthly Minimum Income (MMI) 2025. https://www.auxadi.com/insights/chile-increase-in-the-monthly-minimum-income-mmi-2025/
- Carey Abogados. Scotiabank acquires BBVA Chile. https://carey.cl/en/scotiabank-acquires-bbva-chile/
- BNamericas. Chile's telecoms market: The state of play. https://www.bnamericas.com/en/analysis/chiles-telecoms-market-the-state-of-play
- Advisor.ca. Scotiabank completes acquisition of Chilean bank. https://www.advisor.ca/news/industry-news/scotiabank-completes-acquisition-of-chilean-bank/
- World Bank. Case Study: Chile World Bank Fast Payments Toolkit. https://thedocs.worldbank.org/en/doc/2d52795c371322b0682303079c79344b-0320022021/original/Chile-Fast-Payments-Toolkit-Case-Study.pdf
- PCMI. Leading Payment Methods in Latin America 2025. https://paymentscardsandmobile.com/leading-payment-methods-in-latin-america-2025/
- Global Legal Insights. Energy Laws and Regulations 2025 | Chile. https://www.globallegalinsights.com/practice-areas/energy-laws-and-regulations/chile
- Wise. A list of the top banks in Chile. https://wise.com/gb/blog/banks-in-chile
- Research and Markets. Payments Landscape in Chile: Opportunities and Risks to 2022. https://www.researchandmarkets.com/reports/5619934/payments-landscape-in-chile-opportunities-and
- EBANX. Chile Payment Gateway | Process Payments Seamlessly. https://www.ebanx.com/en/integration/chile
- Worldline Global. Chile. https://worldline.com/en-cl/home/solutions/local-payments/latam/chile.html
- Anrok. Chile VAT guide for digital businesses | The VAT index for digital services. https://www.anrok.com/vat-guides/chile
- FlowPagos. Local payment methods platform - FlowPagos. https://www.flow.cl/en/
- Mastercard. Young Chileans and their money | Mastercard. https://www.mastercard.com/news/latin-america/en/perspectives/en/2018/young-chileans-and-their-money/
- Americas Market Intelligence. Chile E-Commerce Market Data [2023-2025] | Americas Market Intelligence. https://americasmi.com/data/chile-ecommerce-market-data/
- Wegile. B2B vs B2C: Overview of Types and Key Differences - Wegile. https://www.wegile.com/blog/b2b-vs-b2c
- Mastercard. The new era of financial inclusion in Latin America - Mastercard. https://www.mastercard.com/news/latin-america/en/perspectives/en/2020/the-new-era-of-financial-inclusion-in-latin-america/
- XII Report - Trends in Payment Instruments. https://www.bcentral.cl/web/bch/studies-research/report-on-trends-in-payment-instruments/xii-report
- EY - Denmark. How new entrants are redefining cross-border payments | EY - Denmark. https://www.ey.com/en_dk/banking-capital-markets/how-new-entrants-are-redefining-cross-border-payments
- PYMNTS.com. Chile: The Poster Child For Latin American Digital Payments - PYMNTS.com. https://www.pymnts.com/digital-payments/2022/chile-the-poster-child-for-latin-american-digital-payments/
- EY - MENA. How real time payments are revolutionizing the payments ecosystem | EY - MENA. https://www.ey.com/en_mena/financial-services/how-real-time-payments-are-revolutionizing-the-payments-ecosystem
- Business Wire. Chile B2C Ecommerce Market Opportunities Databook 2022: 100+ KPIs on Ecommerce Verticals - ResearchAndMarkets.com - Business Wire. https://www.businesswire.com/news/home/20230210005213/en/Chile-B2C-Ecommerce-Market-Opportunities-Databook-2022-100-KPIs-on-Ecommerce-Verticals---ResearchAndMarkets.com
- GlobeNewswire. Latin America Online Payment Methods Market Analysis Report 2022 - GlobeNewswire. https://www.globenewswire.com/news-release/2022/05/02/2433488/0/en/Latin-America-Online-Payment-Methods-Market-Analysis-Report-2022-Key-Trends-Innovations-and-Growth-Drivers.html
- Repositorio Digital de la CEPAL. The payment landscape of B2C e-commerce marketplaces in Latin America and the Caribbean - Repositorio Digital de la CEPAL. https://repositorio.cepal.org/handle/11362/48511
- BlueCart. B2B Payments Landscape and Method: Top B2B Payment Solutions - BlueCart. https://www.bluecart.com/blog/b2b-payments