推动数字化转型和包容性：拉丁美洲和加勒比地区的快速支付（英）

Fast Payments in Latin Americaand the Caribbean NOVEMBER 2025 © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington DC 20433Telephone: 202-473-1000Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, andconclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors,or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does notassume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of orfailure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, links/footnotes and other information shown in this work do not imply any judgment on the part of The World Bank concerningthe legal status of any territory or the endorsement or acceptance of such boundaries. The citation of works authored byothers does not mean the World Bank endorses the views expressed by those authors or the content of their works. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges andimmunities of The World Bank, all of which are specifically reserved. The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, thiswork may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given.Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The WorldBank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. Cover design: Naylor Design, Inc. CONTENTS ACRONYMS AND ABBREVIATIONSiv ACKNOWLEDGMENTS 1.EXECUTIVE SUMMARY1Key Findings2Policy Messages6 2.1Fast Payments Emerge with Limited Central Bank Involvement (Late 2000s–Early 2010s)102.2Early Efforts Display Limits as Central Banks Begin to Instigate Change (Mid-2010s)122.3A Major Shift in FPS Governance (Late 2010s–Present)13 3.THE FAST PAYMENTS OPPORTUNITY IN LATIN AMERICA AND THE CARIBBEAN15 3.1The Growth of Fast Payments in LAC, 2017–24153.2Design Features that Underpin the FPS Value Proposition in LAC173.3Fast Payment Systems as a Catalyst for Digital Payments233.4Are Fast Payments Broadening or Deepening Financial Inclusion?26 4.FAST PAYMENTS CHALLENGES IN LATIN AMERICA AND THE CARIBBEAN:GOVERNANCE AND INTEROPERABILITY 4.1Adapting Governance Frameworks to New Market Realities304.2Achieving Ecosystem-Level Interoperability33 5.LEVERAGING FAST PAYMENTS TO SUPPORT INNOVATION AND DIGITALFINANCIAL INCLUSION 5.1Expanding Use Cases405.2Diversifying Access Channels and Initiation Mechanisms505.3Securing the Future of Fast Payments53 APPENDIX A: FPS Design Maturity Index56 ENDNOTES 57 LIST OF FIGURES Figure ES.1: Fast payments are driving the acceleration of digital payments growth in LAC-11,now representing approximately 45 percent of centrally cleared digital payments volume3Figure ES.2: Chile and Mexico were early adopters of fast payments, but Brazil, Argentina, andCosta Rica now lead in terms of FPS transactions per adult (FPS transactions per adult, by country,2017–24)3Figure ES.3: Fast payments now represent more than 40 percent of all digitalpayments in Argentina, Bolivia, Brazil, Paraguay, and Peru4Figure 1: LAC’s 20-Year Journey toward Fast Payments11Figure 2: FPS transaction volumes and value have grown rapidly since 202017Figure 3: Chile and Mexico were first movers, but Brazil, Argentina, and Costa Rica now lead interms of FPS transactions per adult (FPS volume share per adult, by country, 2017–24)18Figure 4: LAC-11 countries have followed diverse FPS-scale trajectories, with Brazil and Argentinagrowing most quickly18Figure 5: Colombia, Bolivia, Paraguay, and Peru are showing high rates of recent growth in fastpayments, possibly closing the gap with Brazil, Argentina, and Costa Rica19Figure 6: FPS design maturity index21Figure 7 P2P remains the dominant FPS use case in most LAC-11 countries22Figure 8 Fast payments are driving the acceleration of digital payments growth in LAC-11,now representing approximately 45 percent of centrally cleared digital payments volume25Figure 9 Fast payments now represent more than 45 percent of all digital payments inArgentina, Bolivia, Brazil, Paraguay, and Peru25Figure 10 Account ownership and usage of digital payments has increased significantly since2017, with slower progress since 202127Figure 11 Digital payments can help drive financial inclusion progress but broaderreforms are also needed29Figure 12: Interoperability models35Figure 13: Role of Interoperability facilitation layers in multitenant and cross-network models36 LIST OF TABLES Table ES.1: