Visa transactions grew more than 10% during December 2024 in Latin America and the Caribbean

Visa Consulting and Analytics (VCA) reports an increase across in-store and online sales in the region.
Man tapping to pay

MIAMI, January 31, 2025 - Visa, a global leader in digital payments, today announced that overall Visa transactions during December 2024 in Latin America and the Caribbean across all forms of Visa payments increased more than 10% year-over-year. According to data from Visa Consulting & Analytics (VCA), out of total transactions in the region during December 2024, in store shopping transactions registered close to a 10% growth compared to the same period in 2023, showing the in-store experience remains important for consumers. Meanwhile, online transactions continued its steady rise with more than 15% growth compared to December 2023, emphasizing the convenience and appeal of digital platforms for holiday shoppers. 

“This sustained growth in both in store and online shopping during December reflects the increasing adoption of digital payment solutions and highlights the resilience of the region’s economy as consumers and businesses embrace the convenience, speed and security offered by Visa credentials,” said Javier Vazquez, Head of Visa Consulting & Analytics for Visa Latin America and the Caribbean.

Other key highlights for Latin America and the Caribbean:

  • Contactless payments drove growth with over 25% increase in transactions during December 2024 in the region, highlighting the increasing preference of this technology to make payments.
  • Markets leading spending growth. In terms of overall transactions during this Holiday shopping season, markets with the highest increases compared to 2023 included Mexico1  and Peru with around 30% growth, followed by Panama, Costa Rica and Dominican Republic with growth rates at around 20%.
  • Top product categories for e-commerce transactions included transportation, digital goods and recurring subscriptions, while supermarket, food, and gasoline led in-person transactions.
  • Debit transactions registered a steady rise across the region, showing a more than 15% increase in the online space versus 2023. 
  • December 23 was the day with most Visa transactions during the entire 2024 calendar year, same as last year. 

VCA’s consulting team analyzed data related to consumer transactions that took place through VisaNet from December 1-31, 2024 vs December 1-31, 2023, excluding Visa Direct-related transactions and spend. These growth percentages are related to transactions numbers in US dollars and local currency. The countries analyzed included Brazil, Chile, Argentina, Peru, Mexico¹, Colombia, Guatemala, Costa Rica, Dominican Republic, Uruguay, Puerto Rico, Panama, Honduras, El Salvador, Ecuador, Paraguay, Jamaica, Bolivia, Nicaragua, Trinidad and Tobago, Bahamas and Barbados.

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About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com. 

 [1]Includes consumer transactions that took place through VisaNet from December 1-31, 2024 vs December 1-31, 2023, excluding Visa Direct-related transactions and spend in Mexico considering a select number of local issuers.