Paysafe ‘Very Bullish’ on LatAm Digital Wallet Usage

Paysafe says it expects good things from Latin America amid the region’s FinTech boom.

Latin America (LatAm) was a popular subject on the payments company’s quarterly earnings call Tuesday (May 13), with Paysafe reporting a 4% dip in revenue, with organic revenue growth of 5%.

“As you know, we’ve anticipated a lower growth rate and margin profile during the first half of the year,” CEO Bruce Lowthers said. “We remain confident that we see acceleration in the second half as we deliver our existing contracts, execute on our sales pipeline, and drive revenue from product initiatives that are already in market.”

Among those initiatives is the company’s digital wallet platform, which has evolved from “single-use consumer wallet solutions … into a more unified platform for two primary segments, with all users able to leverage the functionality of the entire platform,” the CEO said.

To illustrate that shift, Lowthers used the example of the company’s PagoEfectivo brand in Peru, a cash and bank transfer payment solution aimed at that country’s increasing embrace of digital wallets and account-to-account payments.

The company is also targeting consumers who enjoy online gambling, video gaming and eSports, a group that makes up close to 60% of Paysafe’s Peruvian user base.

“This is often a cash-based user who wants a safe and seamless transition from cash to digital gaming, and it places a lot of value on fast access to his winnings,” the CEO said.

Later in the call, he said the company expected the region to generate “low double digits, mid-teen double-digit growth” as the year goes on.

“So the LatAm market is one that we’re very bullish on, we feel like there are solid growth opportunities in the LatAm market,” Lowthers said.

His comments come as Latin America is experiencing a dramatic shift in how money moves, as PYMNTS wrote last week.

“But it isn’t traditional financial institutions that are leading the charge,” that report said. “Instead, mobile wallets and real-time payment systems are rapidly gaining ground across the region, and these 21st-century solutions to the age-old problem of money movement are even overtaking banks in the race to digitize transactions.”

Data from the PYMNTS Intelligence April 2025 “Embedded Finance Tracker® Series” shows that LatAm is not only embracing cashless technology but leading in it.

Across the region, the report shows, cash is rapidly losing ground as consumers shift to digital payments. In 2014, cash accounted for 67% of in-store transaction value. Within 10 years, that figure has fallen to 25%. eCommerce transactions have followed a similar path.

Digital payments made up for 48% of online purchase value in 2024, compared to 14% in 2014. Those numbers are projected to climb to 66% by 2030 for eCommerce, and 49% of in-store transaction value.