Financial services are moving to mobile, multi-rail ecosystems in Latin America. Real-time payments and wallets boost engagement but fragment data and control—forcing banks to embed into transaction flows or lose the customer relationship.

Key Question: How are interoperable, multi-rail payment ecosystems reshaping competition and customer ownership in Latin American banking?

Key Stat: In Brazil, Pix’s primary use case is shifting toward everyday commercial payments, with the number of person-to-business (P2B) transactions reaching 3.09 billion in March 2026 and surpassing peer-to-peer (P2P) transactions, per Banco Central do Brasil.