![]() With 80.88 million smartphone users, Mexican citizens spend an average of three hours and 46 minutes on social media every day. It is the first nation in the region to have a complete law regulating fintechs and is home to some of the most influential mobile companies in the region. Mexico has laid the groundwork for mobile solutions in a way that no other country in LATAM has. In June, WhatsApp did launch such capabilities in the country, however, it was suspended by the Central Bank after just one week due to concerns over lack of competition in the payment system market. WhatsApp in particular is so common that 53% of users say they would like the option to make payments in the app. WhatsApp, Facebook, Facebook Messenger, and Instagram are the most popular apps in Brazil based on monthly active users. A safe assumption is that Brazil has yet to introduce widespread fintech solutions. At the same time, only 4.5% of users have a mobile money account, although 44% of users say their preferred payment methods would be through a virtual bank account. Interestingly, despite having a mostly female population, 63% of men are mobile owners compared to 57% of women.Īccording to a report by We Are Social and Hootsuite, 63% of mobile connections in Brazil are pre-paid, meaning users can change their plans every time they recharge, suggesting that they prefer a level of flexibility in how they pay for their mobile activity. 141.45 million Brazilians own smartphones, 92% of whom are people aged between 18 and 55. LATAM’s largest country unsurprisingly has the highest number of mobile users. To better understand how and why these countries are pioneering all things mobile, here’s a breakdown of their mobile usage habits: Mobile in Brazil The nations currently leading mobile growth in LATAM are Brazil, Mexico, Argentina, Chile, and Colombia. Still, varying maturity levels and local regulations are dictating the speed of mobile acceleration for individual countries in the region. Mobile technology is advancing at such a speed that 4G adoption is anticipated to hit 67% in LATAM by 2025, and commercial launches for 5G are already underway in 2020. At the same time, the rise of social media and instant-messaging platforms caused skyrocketing demand for optimized mobile services.Īs mobile penetration has soared, it is simultaneously facilitating innovative apps that promote opportunities for societal change, social mobility, financial control, and pathways to overseas markets. Problems with infrastructure and sprawling rural towns with limited connectivity meant populations needed simple, portable ways to get online for both business and recreation. Part of the reason for LATAM’s explosive mobile growth is because mobile is that mobile devices are the primary way people access the internet throughout the region. ![]() In 2018, the region had 326 million mobile internet users - a figure that’s expected to increase to 422 million by 2025. Latin America is home to one of the fastest-growing mobile markets in the world.
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