Mastercard study finds cybersecurity concerns are emerging as a key barrier to SME digital growth in Latin America & the Caribbean

·      97% of SMEs surveyed now accept digital payments, but half say fear of fraud and cyberattacks is limiting further digital growth.

Small, and medium-sized enterprises (SMEs) across Latin America and the Caribbean (LAC) have largely embraced digital commerce, but concerns about cybersecurity are emerging as the next major challenge to growth, according to Mastercard’s latest regional survey, Mastercard 2026 SME Cybersecurity Outlook. Mastercard’s study, which surveyed 2,400 SME owners and decision-makers across 12 countries in the region, found that 97% of SMEs now accept digital payments, underscoring how deeply digital commerce is embedded in day-to-day business operations. However, as adoption rises, business confidence is increasingly being shaped by concerns about fraud, cyberattacks, and data protection. 

More than half (51%) of SMEs cite fear of fraud or cyberattacks as the biggest barrier to increasing digital payment usage. Cybersecurity concerns are also affecting business decisions: 40% of respondents say these concerns have slowed or stopped their use of digital tools or payments, while nearly a third have postponed e-commerce expansion or entry into new markets. These findings suggest that while access to digital payments is no longer the primary challenge, the ability to operate securely and confidently in a digital environment is becoming a defining factor for future business success.

At the same time, business owners also view cybersecurity as a growth enabler rather than simply a defensive measure. Nearly half of respondents said stronger protection against fraud and cyberattacks could help their businesses achieve 25% or more additional growth, while 42% identified increasing online and digital sales as one of their biggest opportunities for the next two years. Despite growing awareness, preparedness remains uneven. While 93% of SMEs say they are familiar with cybersecurity, only 18% feel highly prepared to protect their business. Additionally, one in five businesses report having no cybersecurity response or recovery plan.

"For small businesses across Latin America and the Caribbean, cybersecurity is no longer just a technology concern, it's a business imperative," said Ana Lucía Magliano, Executive Vice President, Services, Mastercard Latin America and the Caribbean. "Our research shows that SMEs have largely embraced digital payments but concerns about fraud and cyberattacks continue to hold many back from pursuing new opportunities. When security becomes a foundational piece of their evolution story, businesses are better positioned to expand, serve customers, and thrive."

To help businesses strengthen digital confidence, Mastercard continues to invest in technologies and services that help identify, prevent and respond to cyber threats. Through the Mastercard Trust Center, Mastercard offers a free cybersecurity education and resource hub for SMEs across Latin America and the Caribbean, providing research, training, assessments, tools and practical guidance to help businesses strengthen cyber resilience. Available through select local issuers and industry partners, solutions such as My Cyber Risk powered by RiskRecon, and ID Theft Protection, help businesses better understand cybersecurity exposures, strengthen cyber preparedness, and support identity protection.

Mastercard's ongoing commitment to strengthening SME cybersecurity across LAC aligns with its global commitment to connect and protect 500 million individuals and small businesses on their path toward financial health by 2030.

Scope and methodology of research

The Mastercard 2026 SME Cybersecurity Outlook is based on a survey of 2,400 SME owners and senior decision-makers across 12 Latin American and Caribbean markets (Argentina, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Guatemala, Mexico, Panama, Peru, and Puerto Rico) conducted in Q2 2026. Mastercard partnered with Payments and Commerce Market Intelligence (PCMI), a payments industry market intelligence firm, to conduct the study. The findings provide a regional perspective on SME adoption of digital payments, cybersecurity preparedness, and the role of digital confidence in supporting future business growth.