Conquering Gen Zers in Latin America and the Caribbean through social media, gaming and payments

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In the midst of an ecosystem that is increasingly digital, today we are facing a unique social phenomenon: the “Gen Zers”, the first generation of truly digital natives who are rapidly and forcefully redefining the banking and financial world, gaining more purchasing power and financial maturity and becoming the new influencers of today's digital commerce.

Generation Z – comprised of people born between 1997 and 2012 – is now the largest cohort in the world, representing 32% of the global population¹. As this group of young adults continues to expand, Visa is sharing a new report, “ Conquering Gen Zers Through Social, Gaming and Payments ,” through which we provide our financial institutions, merchants and the entire how to get south korea whatsapp number payments ecosystem with accurate data and insights to better understand and meet the business needs of Gen Z, thereby unlocking significant business opportunities to more effectively reach and connect with this important demographic.

Particularly in the gaming sector , which plays a central role in the lives of Gen Zers, it is essential to understand their behavior since 80% of Latin Americans of this generation currently identify as a gamer² and 70% say that video games are their favorite form of entertainment³ . Therefore, our report delves deeper into this space, providing a playbook for issuers to effectively reach Gen Z gamers . At the same time, the report expands on the cultural relevance of these young influencers as social activists, well-being advocates, and as the driving force behind the shift towards digital payments, due to their natural behavior on mobile banking apps, digital wallets, P2P payment apps, and cryptocurrencies.

There is no doubt that winning over Gen Zers is critical to future success, given their growing impact as the most digitally savvy and technologically savvy group. All participants in the payments ecosystem must rise to the challenge of connecting with these young people through innovative digital banking experiences to enable further growth in our businesses and capture the loyalty of the fastest-growing consumer segment that is reshaping the future of commerce.