Key Facts About
Chile
Chile
Language
Spanish (official), spoken by over 99% of the population. English is commonly used in business and fintech sectors.
Population
~19.6 million (stable growth), one of Latin America’s most digitally connected populations.
Religion
60% Roman Catholic, 17% Evangelical; secularization trend continues. Religion has limited impact on digital finance behavior.
Youthful
~39% under age 30, median age 35 → educated and digitally savvy consumer base.
Economy
Highly urbanized (88% urban).
2022 GDP per capita: ~$15,100 – one of the highest in LATAM.
2023 GDP growth: +2.4%. Key sectors: mining, financial services, telecom, tech startups.
Top exports: copper, lithium, wine.
Digital commerce penetration is among the region’s fastest-growing.
2022 GDP per capita: ~$15,100 – one of the highest in LATAM.
2023 GDP growth: +2.4%. Key sectors: mining, financial services, telecom, tech startups.
Top exports: copper, lithium, wine.
Digital commerce penetration is among the region’s fastest-growing.
Survey of consumption
63% of Chilean credit card holders use installment plans, especially for purchases exceeding CLP $100,000.
63%
Among users opting for installments, 90% prefer interest-free payment plans over 3, 6, or 12 months, indicating strong demand for short- to mid-term flexibility.
90%
Robust connectivity infrastructure enables broad access to e-commerce and digital financial services across urban and semi-urban regions.
88.5%
Method of payment
Offline – Cash usage:
Currency unit: Chilean Peso (CLP). Despite increasing digital adoption, 24% of offline transactions in Chile still rely on cash, especially in rural areas or for utility payments.
Online – Credit cards / Bank transfer / Digital wallets:
- Chile is one of the most advanced digital payment markets in Latin America.
- Credit cards remain dominant for online purchases (~45% of e-commerce volume).
- Bank transfers (via Webpay/RedCompra) are widely used and trusted.
- Digital wallets like MACH, Tenpo, and Mercado Pago are growing rapidly, especially among Gen Z and unbanked users.
