Just a few years ago, buying a coffee or paying for groceries in Latin America almost always meant reaching for cash. Fast forward to 2025, and the landscape has dramatically shifted: digital payments for in-person purchases have nearly tripled in market share, jumping from 11% in 2020 to 30% in 2024. This isn’t just a tech trend; it’s a transformation in how people live, work, … [Read more...] about Paying Digital: The Changing Landscape of Everyday Transactions
Razvan Vlaicu
Razvan Vlaicu is a senior economist in the Research Department at the Inter-American Development Bank. His research interests are in public economics and political economics, with a focus on the role of governance and institutions in economic development. He received his Ph.D. in Economics from Northwestern University, taught economics at the University of Maryland, and held short-term positions at the Kellogg School of Management and the World Bank. His research has been published in journals such as the Review of Economic Studies, American Political Science Review, Journal of International Economics, and Journal of Public Economics.
Beyond Cash: The Digital Payments Revolution in Latin America and the Caribbean
Latin America and the Caribbean is undergoing a transformative shift in digital payments. Between 2019 and 2023, the average number of electronic transactions in the region grew threefold. This surge in the way in which transactions are made in the region coincides with a strong preference for digital payment methods. According to the Inter-American Development Bank's landmark … [Read more...] about Beyond Cash: The Digital Payments Revolution in Latin America and the Caribbean
Financial Literacy for the Digital Age
In today’s rapidly evolving and technologically complex financial landscape, financial literacy is no longer a luxury. As digital platforms reshape how individuals save, spend, borrow, and invest, the ability to understand and manage personal finances has become a core life skill. Financial literacy empowers individuals to make informed decisions. It helps avoid costly mistakes … [Read more...] about Financial Literacy for the Digital Age
How Employment Narratives Shape Public Support for Trade
International trade is often hailed as a driver of economic growth and consumer welfare. Yet, despite its economy-wide benefits, it remains divisive and politically contentious - especially when it comes to employment. Part of this dynamic has to do with the fact that trade helps firms which are export-oriented but hurts firms that compete with imports. Given that people are … [Read more...] about How Employment Narratives Shape Public Support for Trade
Can AI Technologies Help Expand Credit Access?
Despite the proliferation of digital technologies in daily market transactions, about 45% of Latin America's population do not use bank accounts, and credit access for individuals and firms is limited. Technologies based on Artificial Intelligence (AI) can help change that. AI can efficiently incorporate big data into credit risk assessments, allowing financial institutions … [Read more...] about Can AI Technologies Help Expand Credit Access?