So far in 2021, we have seen an increase of 54% in transaction rate and a 32% increase in sales, as compared to activity on our platform in 2020. Based on exclusive PayU data, our report deep dives into the overall results we have captured so far in the year, highlighting over 300 million transactions processed by our company alone, adding up to an estimated $8 billion USD in sales.
Our data-driven analysis breaks down the reasoning behind these developments, highlighting how we can continue to expect further growth in the e-commerce industry in Latin America, both regionally but also at a local level.
Among the main insights of our report:
- Through PayU, 15 million buyers carried out their transactions safely in 2019; due to the new pandemic conditions in 2020, 21 million shoppers made digital purchases, which indicates a growth of 40%;
- The number of people who shop online and make their payments electronically continues to grow. In 2021, 27 million consumers have already made their payments through the PayU platform, representing a 29% increase from the previous year;
- PayU went from processing 40.1 million transactions in 2019 to 200 million transactions in 2021, a staggering growth of 400%;
- In 2021, PayU has seen a number of over 17 million shoppers making purchases from global merchants, an 83% growth versus 2020 and a 203% increase over 2019;
- In terms of payment methods usage across the region, credit cards presented a loss in market share from 46% in 2019 to 39% in 2021. However, there has been a notable trend towards adopting debit cards or PSE payments in the last year;
- The market share of credit cards in the last 3 years across the entire region was around 66%, and 97% of these purchases were made with payment in a single instalment;
- Across key dynamic industry sectors, including fashion, streaming, entertainment, telecommunications, education and more, companies have expanded their footprint, generating innovation, significant e-commerce sales volumes and consumer appeal changes.