Summary

According to PayNXT360, B2B BNPL payments in the region are expected to grow by 37.3% on an annual basis to reach US$7.0 billion in 2025.

Latin America B2B BNPL adoption continues to accelerate as businesses increasingly seek flexible payment solutions for procurement and trade transactions.The medium to long-term growth story of the B2B BNPL industry in the region remains strong. B2B BNPL payment adoption is expected to grow steadily, recording a CAGR of 24.5% during 2026-2030. The gross merchandise value is projected to increase from US$7.0 billion in 2025 to US$21.8 billion by 2030.

Key Trends and Drivers in Latin America's B2B Buy Now, Pay Later (BNPL) Market

Latin America presents a distinctive B2B BNPL opportunity defined by deep structural factors not found in any other major region: a cuotas installment culture in which over 60% of credit card transactions in Brazil and Mexico are paid in multiple installments that makes deferred payment a cultural norm rather than an exceptional financial product; instant payment infrastructure that is among the world's most advanced; and an estimated 200 million Latin Americans without formal credit access who participate actively in informal B2B commerce.

Brazil and Mexico account for approximately 75% of Latin American B2B digital commerce, with their combination of instant payment infrastructure Pix in Brazil and SPEI in Mexico open finance frameworks, and e-invoice mandates creating the most advanced B2B BNPL operating environments in the region. Colombia, Chile, and Argentina each present distinct market conditions: Colombia's Addi has demonstrated that standalone B2B BNPL can achieve merchant scale outside the platform-embedded model; Chile's formal banking sector creates competition from bank digital lending; and Argentina's currency instability creates persistent demand for inflation-hedged short-term credit. Over the next 2–4 years, Pix's expansion into Credit on Pix and the growth of nearshoring supply chains in Mexico will be the primary regional growth catalysts.

Instant Payment Infrastructure Drives B2B BNPL Settlement at Near-Zero Cost
• Brazil's Pix instant payment system achieving near-universal business adoption within three years of its 2020 launch and Mexico's SPEI system, which provides free real-time interbank transfers, have eliminated settlement cost as a barrier to B2B BNPL profitability at small transaction sizes. Both systems enable B2B BNPL providers to fund suppliers in real time at no incremental cost, making same-day supplier payment a standard product feature rather than a premium option. MercadoPago, which reported a 50% increase in BNPL usage during major sales events in 2024, has built on Pix and SPEI rails for its embedded B2B payment terms.
• The critical economic advantage of instant payment infrastructure for B2B BNPL is that it removes the supplier participation barrier: suppliers in markets without instant settlement must wait days to receive BNPL-funded payment, making them indifferent or resistant to BNPL programs. Pix and SPEI eliminate this friction, enabling B2B BNPL providers to achieve supplier network scale much faster than would be possible with conventional bank transfer settlement.
• Pix's evolution toward Credit on Pix linking credit facilities directly to Pix payment instruments will extend B2B BNPL to semi-urban and rural businesses that may not maintain formal BNPL platform accounts but conduct daily transactions through Pix. This infrastructure development is the most significant structural change in Brazilian B2B BNPL access expected over the next 2–4 years.

E-Invoice Mandates Create Machine-Readable Underwriting Data at Scale
• Brazil's Nota Fiscal Eletrônica (NF-e) and Mexico's Comprobante Fiscal Digital por Internet (CFDI) e-invoice mandates have created verified digital transaction records for millions of businesses that previously operated with minimal formal documentation. B2B BNPL providers including Konfio which upsized its Goldman Sachs and Gramercy combined credit facilities, enabling automated underwriting for businesses that traditional banks cannot efficiently serve.
• E-invoice mandates are the Latin American equivalent of open banking in their impact on B2B BNPL underwriting: they create a standardised, government-verified financial data layer that enables algorithmic credit assessment for businesses outside the formal banking system. Mexico's SAT expanded CFDI coverage to additional smaller businesses in 2024, increasing the population of formally documented SMEs eligible for data-driven B2B BNPL credit assessment.
• As e-invoice mandates extend to progressively smaller businesses across Brazil, Mexico, Colombia, and Chile, the addressable market for algorithmic B2B BNPL underwriting will expand significantly. Providers that build the most sophisticated CFDI and NF-e data integration capabilities will develop durable competitive advantages in credit accuracy and approval rate.

Nearshoring Supply Chains Create a High-Value New B2B BNPL Segment in Mexico
• Mexico's manufacturing sector is expanding rapidly as US companies restructure supply chains under USMCA, with new production facilities established in Nuevo León, Jalisco, and Querétaro creating fresh demand for B2B payment term solutions. SME suppliers to nearshoring manufacturers are growing faster than their banking relationships can accommodate typically requiring 12–24 months of audited financial history for bank credit creating a structural gap that B2B BNPL fills using revenue data, purchase orders, and CFDI records as credit signals. Mundi's cross-border B2B BNPL product for Mexican manufacturers selling to US buyers addresses the specific complexity of managing USD payment terms while providing MXN settlement.
• Nearshoring represents a net new B2B BNPL opportunity in Mexico that does not exist in other Latin American markets: the arrival of global manufacturers creates a new tier of rapidly growing Mexican SME suppliers whose financial trajectory does not match their historical credit records. This segment requires B2B BNPL products that assess future revenue potential rather than historical credit performance.
• Nearshoring supply chain B2B BNPL will remain a high-growth segment for the next 3–4 years as US investment in Mexican production continues. Providers that develop bilingual product infrastructure, integrate with US corporate procurement systems, and understand US corporate supplier qualification requirements will access the highest-value transactions in this segment.

Competitive Landscape and Regulatory Changes in Latin America's B2B BNPL Market

Competitive intensity is highest in Brazil and Mexico, where well-capitalised platform-embedded providers including MercadoPago and Nubank compete with specialised B2B BNPL fintechs. Traditional banks including BTG Pactual in Brazil and BBVA Mexico are developing digital trade credit products. In Colombia, Addi has demonstrated the viability of a standalone B2B BNPL model, attracting institutional capital and creating a competitive template for other markets.

Key Players and New Entrants
• MercadoPago (Brazil/Mexico/Argentina): The financial services arm of MercadoLibre Latin America's largest e-commerce platform providing embedded BNPL for both B2C and B2B transactions. MercadoPago reported a 50% increase in BNPL usage during major sales events in 2024, providing scale data on the regional market's appetite for embedded payment terms.
• Blu (Brazil): The most prominent domestic B2B BNPL provider in Brazil, backed by Porto Seguro and focused on retail and wholesale supply chain credit, benefiting from its insurance group backing for risk management infrastructure.
• Mundi (Mexico): A cross-border B2B payment and BNPL provider focused on Mexican exporters selling to US buyers, offering peso disbursement against US dollar receivables a distinctive product addressing the USMCA trade corridor's currency complexity.
• Addi (Colombia): A Colombian B2B BNPL provider that has expanded merchant adoption across furniture, fashion, and homeware and secured institutional funding to broaden merchant partnerships, demonstrating the viability of a specialist B2B BNPL model in a secondary Latin American market.

Recent Launches, Mergers, and Acquisitions
• Traive raised $20 million in a Series B in February 2024, led by Banco do Brasil through its BB Impacto ASG I Fund, to expand agri-BNPL coverage across Brazilian agricultural supply chains and launch a credit trading platform connecting agricultural producers with institutional capital markets.
• The Banco Central do Brasil published Open Finance Phase 4 implementation guidance in 2024, requiring investment and insurance product data sharing through Open Finance APIs, expanding the financial data scope available to B2B BNPL underwriters beyond banking transactional data.
• Mexico's SAT expanded mandatory CFDI e-invoice requirements to smaller businesses in 2024, increasing the population of formally documented Mexican SMEs eligible for data-driven B2B BNPL underwriting directly expanding the addressable market for CFDI-based credit providers including Konfio and Mundi.
C
ompetitive Landscape Outlook for the Next 2-4 Years
• Brazil's B2B BNPL market will grow most rapidly, driven by Credit on Pix infrastructure expansion, agri-BNPL scale-up in the world's largest agricultural export economy, and Nubank Business's potentially transformative B2B entry. The market will consolidate around platform-embedded providers and three to four specialised B2B fintechs.
• Mexico's nearshoring manufacturing investment expected to continue as US supply chain diversification from Asia persists through the USMCA period will create a sustained, high-value B2B BNPL growth segment unique to Mexico. Providers that build US-compatible product infrastructure and integrate with US corporate supplier portals will capture the most valuable nearshoring transactions.
• Colombia, Chile, and Peru will emerge as second-tier B2B BNPL markets over the next 2–4 years as digital B2B commerce infrastructure matures and as open banking frameworks create new underwriting data availability. Addi's success in Colombia provides the regional template for how specialist B2B BNPL can achieve scale in markets outside Brazil and Mexico.
• Regional consolidation through cross-border expansion is likely, with Brazilian B2B BNPL providers expanding into Colombia and Chile, and Mexican providers deepening their USMCA corridor capabilities. Pan-regional infrastructure providers particularly those with multi-country e-invoice integration and open finance API capabilities will emerge as enabling layers for country-specific B2B BNPL product deployments.

Regulatory Changes
• Brazil's Banco Central published updated digital lending regulations requiring all B2B BNPL providers operating through Sociedades de Crédito Direto structures to meet minimum capital requirements, conduct credit risk assessments, and report all credit operations to the SCR credit registry. Open Finance Phase 3 and 4 implementation completed through 2023–2024 further expanded underwriting data availability.
• Mexico's CNBV issued updated fintech lending guidelines under the Ley Fintech framework, clarifying capital requirements, consumer protection obligations, and credit reporting requirements for B2B BNPL providers operating through SOFIPO and SOFOM structures. CFDI consent requirements for credit underwriting were also clarified.
• Colombia's Superintendencia Financiera issued guidance on the regulatory treatment of embedded lending in digital commerce platforms, clarifying that B2B BNPL offered by platforms to merchants and business buyers requires appropriate financial licensing and must comply with credit reporting and responsible lending standards.
• Chile's Comisión para el Mercado Financiero has progressed open banking regulation through 2024 that will enable multi-bank financial data sharing for credit assessment, analogous to Brazil's Open Finance framework, improving underwriting data availability for Chilean B2B BNPL providers.

This report provides a detailed, data-centric analysis of B2B Buy Now Pay Later industry, covering market opportunities across end-use sectors, retail product categories, sales channels, and company size segments. With 45+ KPIs, the report offers a comprehensive understanding of B2B BNPL market dynamics, size, forecast, and competitive landscape.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

This title from PayNXT360 is a bundled offering, combining the following 4 reports, covering 130 tables and 140 figures:

1. Latin America B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
2. Argentina B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
3. Brazil B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
4. Mexico B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook

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Table of Contents

This title from PayNXT360 is a bundled offering, combining the following 4 reports, covering 130 tables and 140 figures:

1. Latin America B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
2. Argentina B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
3. Brazil B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
4. Mexico B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook

All global, regional, and country reports mentioned above will have the following tables of contents:

1. About this Report
1.1 Summary
1.2 Methodology
1.3 Definition
1.4 Disclaimer

2. B2B BNPL Market Size and Future Growth Dynamics by Key Performance Indicators

3. B2B Buy Now Pay Later Industry Attractiveness
3.1 B2B Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2021–2030
3.2 B2B Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2021–2030
3.3 B2B Buy Now Pay Later – Transaction Volume Trend Analysis, 2021–2030

4. B2B BNPL Snapshot by End-Use Sector, 2021–2030

5. B2B Buy Now Pay Later in Retail: Market Size and Forecast, 2021–2030
5.1 B2B Buy Now Pay Later Retail – Gross Merchandise Value Trend Analysis, 2021–2030
5.2 B2B Buy Now Pay Later Retail – Average Value Per Transaction Trend Analysis, 2021–2030
5.3 B2B Buy Now Pay Later Retail – Transaction Volume Trend Analysis, 2021–2030

6. B2B BNPL Snapshot by Key Retail Product Categories, 2021–2030
6.1 B2B Buy Now Pay Later – Electronics & Accessories – Gross Merchandise Value Trend Analysis, 2021–2030
6.2 B2B Buy Now Pay Later – Office Supplies – Gross Merchandise Value Trend Analysis, 2021–2030
6.3 B2B Buy Now Pay Later – Cleaning Products – Gross Merchandise Value Trend Analysis, 2021–2030
6.4 B2B Buy Now Pay Later – Fashion & Apparel – Gross Merchandise Value Trend Analysis, 2021–2030
6.5 B2B Buy Now Pay Later – Beauty & Personal Care – Gross Merchandise Value Trend Analysis, 2021–2030
6.6 B2B Buy Now Pay Later – Pantry & Food Products – Gross Merchandise Value Trend Analysis, 2021–2030
6.7 B2B Buy Now Pay Later – Other – Gross Merchandise Value Trend Analysis, 2021–2030

7. B2B Buy Now Pay Later in Manufacturing: Market Size and Forecast, 2021–2030
7.1 B2B Buy Now Pay Later Manufacturing – Gross Merchandise Value Trend Analysis, 2021–2030
7.2 B2B Buy Now Pay Later Manufacturing – Average Value Per Transaction Trend Analysis, 2021–2030
7.3 B2B Buy Now Pay Later Manufacturing – Transaction Volume Trend Analysis, 2021–2030

8. B2B Buy Now Pay Later in Transport and Logistics: Market Size and Forecast, 2021–2030
8.1 B2B Buy Now Pay Later Transport and Logistics – Gross Merchandise Value Trend Analysis, 2021–2030
8.2 B2B Buy Now Pay Later Transport and Logistics – Average Value Per Transaction Trend Analysis, 2021–2030
8.3 B2B Buy Now Pay Later Transport and Logistics – Transaction Volume Trend Analysis, 2021–2030

9. B2B Buy Now Pay Later in Professional Services: Market Size and Forecast, 2021–2030
9.1 B2B Buy Now Pay Later Professional Services – Gross Merchandise Value Trend Analysis, 2021–2030
9.2 B2B Buy Now Pay Later Professional Services – Average Value Per Transaction Trend Analysis, 2021–2030
9.3 B2B Buy Now Pay Later Professional Services – Transaction Volume Trend Analysis, 2021–2030

10. B2B Buy Now Pay Later in Industrial Applications: Market Size and Forecast, 2021–2030
10.1 B2B Buy Now Pay Later Industrial Applications – Gross Merchandise Value Trend Analysis, 2021–2030
10.2 B2B Buy Now Pay Later Industrial Applications – Average Value Per Transaction Trend Analysis, 2021–2030
10.3 B2B Buy Now Pay Later Industrial Applications – Transaction Volume Trend Analysis, 2021–2030

11. B2B Buy Now Pay Later in Healthcare: Market Size and Forecast, 2021–2030
11.1 B2B Buy Now Pay Later Healthcare – Gross Merchandise Value Trend Analysis, 2021–2030
11.2 B2B Buy Now Pay Later Healthcare – Average Value Per Transaction Trend Analysis, 2021–2030
11.3 B2B Buy Now Pay Later Healthcare – Transaction Volume Trend Analysis, 2021–2030

12. B2B Buy Now Pay Later in Other Sectors: Market Size and Forecast, 2021–2030
12.1 B2B Buy Now Pay Later Other – Gross Merchandise Value Trend Analysis, 2021–2030
12.2 B2B Buy Now Pay Later Other – Average Value Per Transaction Trend Analysis, 2021–2030
12.3 B2B Buy Now Pay Later Other – Transaction Volume Trend Analysis, 2021–2030

13. B2B Buy Now Pay Later Spend Analysis by Sales Channel
13.1 B2B BNPL Market Share by Sales Channel, 2021–2030
13.2 B2B Buy Now Pay Later Online Channel Market Size and Forecast, 2021–2030
13.3 B2B Buy Now Pay Later POS Channel Market Size and Forecast, 2021–2030

14. B2B Buy Now Pay Later Spend Analysis by Company Size
14.1 B2B Buy Now Pay Later Market Share by Size of Company, 2021–2030
14.2 B2B Buy Now Pay Later by Company Size – Small – Gross Merchandise Value Trend Analysis, 2021–2030
14.3 B2B Buy Now Pay Later by Company Size – Medium – Gross Merchandise Value Trend Analysis, 2021–2030
14.4 B2B Buy Now Pay Later by Company Size – Large – Gross Merchandise Value Trend Analysis, 2021–2030

15. Further Reading
15.1 About PayNXT360
15.2 Related Research