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South America Master Card Market Test Market
ID: MRFR/ICT/59281-HCR
200 Pages
July 2025
South America MasterCard Market Test Market Research Report By Payment Type (Credit Card, Debit Card, Prepaid Card, Virtual Card), By Distribution Channel (Online, Retail, Mobile App, Direct Sales), By User Demographics (Millennials, Generation X, Baby Boomers, Business Professionals), By Service Type (Standard Services, Premium Services, Corporate Services, Student Services) and By Regional (Brazil, Mexico, Argentina, Rest of South America)- Forecast to 2035
Industry Developments
In October 2023, Nubank achieved a milestone of surpassing 90 million customers in Latin America, which includes Brazil, Mexico, and Colombia. This achievement is indicative of the widespread adoption of digital banking, which is extensively facilitated by Mastercard-powered services.In July 2023, Nubank established a strategic partnership with EBANX to introduce "NuPay," a local payment method that is recognised at over 1,600 global merchants.
This partnership expanded the international e-commerce payment access for Mastercard cardholders in Brazil.Banco de Bogotá and Bradesco, in conjunction with fintech actors, continued to integrate digital payments, including Mastercard-linked card products, streamlined APIs, and fintech collaborations, throughout 2023–2024. This integration was motivated by competition from Nubank's card offering in Colombia.
Report Scope
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 3.96(USD Billion) |
| MARKET SIZE 2024 | 4.5(USD Billion) |
| MARKET SIZE 2035 | 6.5(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 3.399% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Nubank, Banco de Bogotá, Bradesco, Banco do Brasil, American Express, Visa, HSBC, Mercado Pago, MasterCard, BBVA, Banco de Chile, Credit Agricole, Santander |
| SEGMENTS COVERED | Payment Type, Distribution Channel, User Demographics, Service Type, Regional |
| KEY MARKET OPPORTUNITIES | Digital payment growth, Rising e-commerce adoption, Increased smartphone penetration, Financial inclusion initiatives, Enhanced security technologies |
| KEY MARKET DYNAMICS | increasing digital payment adoption, growing e-commerce market, competitive payment solutions, regulatory changes impact, rising consumer credit usage |
| COUNTRIES COVERED | Brazil, Mexico, Argentina, Rest of South America |
FAQs
What is the projected market size of the South America MasterCard Market in 2024?
The South America MasterCard Market is projected to be valued at USD 4.5 billion in 2024.
What is the estimated market value for the South America MasterCard Market in 2035?
By 2035, the South America MasterCard Market is expected to reach a valuation of USD 6.5 billion.
What is the expected CAGR for the South America MasterCard Market from 2025 to 2035?
The expected CAGR for the South America MasterCard Market from 2025 to 2035 is approximately 3.399%.
Which country is expected to have the largest market share in the South America MasterCard Market by 2024?
Brazil is expected to have the largest market share in the South America MasterCard Market with a valuation of USD 1.8 billion in 2024.
What is the market size for debit cards in the South America MasterCard Market in 2024?
The market size for debit cards in the South America MasterCard Market is projected to be USD 1.2 billion in 2024.
What is the projected value of the prepaid card segment in the South America MasterCard Market by 2035?
The prepaid card segment in the South America MasterCard Market is expected to be valued at USD 1.3 billion by 2035.
Who are the key players in the South America MasterCard Market?
Key players in the South America MasterCard Market include Nubank, Banco de Bogotá, Bradesco, Banco do Brasil, and American Express.
What is the expected market size of virtual cards in the South America MasterCard Market in 2024?
The expected market size for virtual cards in the South America MasterCard Market in 2024 is USD 1.0 billion.
How is the market size for credit cards expected to change from 2024 to 2035 in the South America MasterCard Market?
The market size for credit cards in the South America MasterCard Market is expected to increase from USD 1.5 billion in 2024 to USD 2.2 billion by 2035.
What is the projected market value for Argentina in the South America MasterCard Market by 2035?
The projected market value for Argentina in the South America MasterCard Market is estimated to be USD 1.1 billion by 2035.
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