• Latin America's SaaS market is the fastest-growing in the world, outpacing Asia, Europe, and North America
• The SaaS sector in Brazil, Latin America's largest market, is projected to reach USD 22 billion within two years
• Pix, Brazil's instant payment method, drives 61% of revenue for SaaS merchants using EBANX in the country

CURITIBA, Brazil, Aug. 19, 2025 /PRNewswire/ -- Exclusive data revealed today by EBANX, a global technology company specializing in payment services for emerging markets, shows that Latin America's Software as a Service (SaaS) market is projected to reach USD 46 billion in 2027, more than doubling from USD 22 billion in 2023, according to Payments and Commerce Market Intelligence data sourced by EBANX.

"The rapid growth of the SaaS sector reflects a major shift in how Latin Americans work, learn, and live in the digital economy," states Marie-Elise Droga, CRO at EBANX. "Businesses of all sizes are adopting SaaS to stay competitive and scale efficiently, while consumers increasingly turn to digital services for productivity, entertainment, education, financial management, and more," she adds.

Latin America's SaaS sector is the fastest-growing in the world, registering an expansion rate of nearly 23% in 2024, above the global average (17%), and Europe (19%), North America (17%), and Asia (16%). EBANX's analysis draws on figures from Statista and PCMI.

Droga explains that the key to success in Latin America lies in offering the right mix of payment options, combining traditional methods like credit and debit cards with alternative solutions such as digital wallets and instant payment systems. "Companies that understand and leverage this diversity of preferences are the ones capturing the full potential of this booming market."

Credit cards, for instance, drive the highest payment frequency among EBANX's SaaS merchants in Brazil, Mexico, Colombia, and Peru, with users making around four purchases per year with the same merchant. Meanwhile, with Boleto Bancário and Sencillito, bank slips payable online or offline, SaaS companies achieve the highest average order values in Brazil and Chile, respectively. Other APMs like Nequi in Colombia and Pix in Brazil show the strongest customer loyalty, with 95% of their users relying solely on these payment methods for SaaS purchases.

Canva, a global visual communication platform, adopted a business strategy for Latin America with EBANX's localized payment solutions in 11 countries across the region, including Brazil, Mexico, Colombia, Chile, and Peru. Their objective is to deliver a tailored customer experience in each of these countries by offering methods such as digital wallets, instant payments, as well as credit and debit cards, covering installments and cards from national brands.

"Latin America plays an important role in Canva's growth, representing a significant share of our global user base and results. That's why we're doubling down on delivering a truly local experience — from language to design templates to payment options. By offering flexible, locally relevant payment methods, we're making it easier for more people to access our premium features and unlock the full value of Canva," says Felipe Godoy, International Growth Marketing Lead LATAM at Canva.

Another SaaS giant that recognizes Latin America as a business growth opportunity is monday.com, the global software company that transforms how businesses run. Data shared by EBANX shows that offering a payment mix with credit card installments and Boleto Bancário boosted their presence in Brazil, with an average ticket above USD 9,000 in the country. Over the past three years, the company has experienced an average annual growth of 41% in Total Payment Volume (TPV) through EBANX.

Pix fuels SaaS growth and digital inclusion in Brazil

The SaaS expansion in Latin America is driven by Brazil and the rapid adoption of Pix, used by 93% of its adult population. The instant, no-cost payment system has played a central role in driving financial inclusion, enabling millions to start using digital services. Among SaaS merchants offering Pix through EBANX, the method now accounts for 61% of their revenue in Brazil.

Pix Automático, a new feature that went into operation in June, is estimated to further boost the SaaS companies' sales by enabling recurring payments, a billing method widely used across the sector. Just like Latin America as a whole, Brazil is also projected to double its market by 2027, reaching alone USD 22 billion, at a growth rate of 15% per year, based on PCMI.

ABOUT EBANX
EBANX is the leading payments platform connecting global businesses to the world's fastest-growing digital markets. Founded in 2012 in Brazil, EBANX was built with a mission to expand access to international digital commerce. Leveraging proprietary technology, deep market expertise, and robust infrastructure, EBANX enables global companies to offer hundreds of local payment methods across Latin America, Africa, and Asia. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and end-users alike.

For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx

Media Contact:
Leonardo Stamillo
leo@contentco.tech
Content CO

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SOURCE EBANX