PaymentsJournal Highlights Latin America’s Fragmented Payments Landscape, Citing PhotonPay Research

Payments industry publication PaymentsJournal has published a deep-dive article, Navigating Latin America’s Complex Payment Ecosystem, examining the region’s evolving payments landscape, including domestic payment rails, cross-border settlement, stablecoins and payment orchestration. The article draws on PhotonPay’s research report, The Next Payment Infrastructure in LATAM, as a reference for its analysis.

The article highlights the highly fragmented nature of Latin America’s payments market, where countries such as Brazil, Argentina and Mexico have developed distinct payment systems, currencies, providers and regulatory frameworks. At the same time, stablecoins are gaining traction in cross-border payments, offering an additional layer for liquidity and settlement, while local payment rails remain essential for reaching businesses and consumers in individual markets.

PaymentsJournal argues that the next phase of payment infrastructure in Latin America may not be about creating a single regional rail, but about connecting diverse local payment systems, currencies and global liquidity through a more unified infrastructure layer. In this model, stablecoins can facilitate cross-border movement and settlement of value, while payment orchestration connects and manages the local rails, providers and fund flows businesses need to navigate. PhotonPay’s research explores these infrastructure trends and the changing dynamics of payments across the region.