In Latin America, more than 60% of people already use digital wallets for their daily transactions, even surpassing physical cards in some countries.. This accelerated growth demands strengthening onboarding processes with technologies such as facial biometrics, automatic document validation, and liveness detection, which prevent identity theft. Integrating a digital card with Tokenization and control from the app not only improves security, but also allows for an agile, reliable and competitive payment experience in an increasingly digital market.
According to the “Global Payments Report” by the consulting firm FIS , the payments ecosystem in Latin America is undergoing a profound transformation that will shape the sector’s strategic direction in the coming years. Among the most prominent trends are mobile payments , driven by their simplicity, speed, and widespread adoption.
It is projected that by 2026 , A2A (account-to-account) payments — direct transactions between accounts, without traditional intermediaries — will grow from 15% to 21% in the region, while the use of digital wallets will increase from 21% to 28% .
These data reflect a structural change in consumer preferences and pose new demands for banks, fintechs and issuers: to offer frictionless experiences, enable digital onboarding with biometrics , integrate card tokenization and guarantee real-time security with technologies such as artificial intelligence and automated document verification.
Mobile wallets are widely used in Latin America
Furthermore, mobile wallets have become one of the main tools for accelerating financial digitization in Latin America. Their main advantage lies in their accessibility: anyone with a mobile phone can activate one in just a few minutes, without needing to physically visit a bank branch.
These ecosystems allow for multiple transactions to be carried out quickly and securely, such as sending money, making interbank transfers, paying for products and services, receiving remittances or subsidies, and accessing microcredits or personal loans in emergency situations.
In Colombia, for example, over 90% of the population has a bank account , and according to Colombia Fintech , 98% of municipalities already have active users of at least one of the more than 10 digital wallets operating in the country. This represents broader coverage than that of traditional banking channels.
The success of these solutions is also due to the use of advanced technologies such as digital onboarding with biometrics and automated identity document validation, which allow new users to be onboarded remotely, securely, and in compliance with KYC regulations. This reduces friction, mitigates the risk of identity theft, and facilitates financial inclusion, even in rural or hard-to-reach areas.
Turn your banking app into a mobile wallet with a digital card
A practical and effective way to transform a banking app into a mobile wallet is to integrate a tokenized digital credit or debit card . This technology guarantees high levels of transaction security and allows users to pay in both physical and online stores. Unlike a physical card, tokenization replaces sensitive data with unique codes for each transaction, significantly reducing the risk of fraud, especially in e-commerce environments and on platforms that accept franchised or private-label cards (closed loop).
Even a small bank can provide its users with a fully digital experience, like that offered by neobanks, by adding the option of a tokenized digital credit or debit card to its mobile banking application, enabling users to perform all their desired financial transactions 100% digitally.
Por esto, ofrecer una tarjeta digital bancaria con tokenización que se emite y activa desde la app de tu banco y le permite a los usuarios hacer diferentes tipos de transacciones y compras de manera segura y desde la comodidad de su teléfono móvil, es ofrecer una experiencia omnicanal y realmente digital que lleva a tu institución financiera un paso más allá dentro del mercado de servicios financieros.
Furthermore, with CaaS you can turn the card issuance process into a memorable experience for your customers, and gain different advantages at the operational, technological, service and business levels, as has been proven by different banks in the region such as Banco del Pacífico of Ecuador and the financing companies Tuya and Serfinanza of Colombia, among others.