Unveiling the true potential of Latin America's Internet & Mobile Market. How will 2020 look like comparing it to the world and India.

1. LATAM 2020
Unveiling the true
potential of Latin America’s
Internet & Mobile Market
HOW 2020 WILL LOOK AND WHY NOW
IS THE RIGHT TIME TO INVEST

2. This presentation was made to share our research and experience on Latin
America. Comments, questions and corrections are always welcome
RodrigoTeijeiro
Founder & CEO
rodrigo@recargapay.com
Gustavo Victorica
Co-founder & COO
gustavo@recargapay.com
Mayra Mange
Junior Finance & Operations Analyst
mayra.mange@recargapay.com
More info on http://recargapay.com/about
Airtime and bill payments for the mobile generation,
serving over 1 million customers today

3. AND IT IS WELL DESERVED…
Source: The Economist: February 2015 | Time: May 2015
Complete list of Unicorns https://www.cbinsights.com/research-unicorn-companies
Flipkart
Mu Sigma
Olacabs
PayTM
Quikr
Snapdeal
Zomato Media
$15
$1.5
$2.4
$2
$1
$2.5
$1
Accel Partners, DST
Sequoia, General Atlantic
Accel Partners, Matrix Partners, Sequoia
Intel Capital, Alibaba Group
Tiger Global
Intel Capital
Sequoia
3rd after US and China in # of Unicorns
INDIA IS GETTING A LOT OF ATTENTION
RECENTLY
Company Valuation ($B) Select Investors

4. AND BY 2020 GDP LATAM > 1.8 x GDP INDIA
Source: IMF
GDP Latam=$6,694 M GDP India=$3,640 M
2015 2016 2017 2018 2019 2020
3,640
3,312
3,013
2,756
2,511
2,308
6,694
6,336
5,989
5,647
5,3645,167
Latin America
India
GDP in billion USD
vs
INDIA IS HOT, BUT LATAM IS STILL AHEAD

5. BY 2020…
LATAM WILL HAVE MORE CREDIT CARD OWNERS THAN INDIA
Source: Global Findex | Own Estimations
http://databank.worldbank.org/Data/Views/VariableSelection/SelectVariables.aspx?source=1228#
Credit card
owners Latam
Credit card
owners India216.5M
232.4M

6. Source: eMarketer | Own Estimations
www.emarketer.com/Article/B2C-Ecommerce-Climbs-Worldwide-Emerging-Markets-Drive-Sales-Higher/1010004
BY 2020…
eCommerce
Buyers Latam
173.4M
eCommerce Buyers India
158.1M
ECOMMERCE BUYERS LATAM > 1.1 x INDIA

7. Source: Frost & Sullivan | Own Estimation
http://es.slideshare.net/FrostandSullivan/mobile-payment-services-in-brazil - http://www.frost.com/sublib/display-market-insight.do?id=291014067
BY 2020…
Mobile Payment
Subscribers: Latam189.5M
MOBILE PAYMENT SUBSCRIBERS LATAM > 1.4 x INDIA
133.1MMobile
Payment
Subscribers:
India

8. Source: WeAreSocial | eMarketer | Ericson
http://www.slideshare.net/wearesocialsg - http://www.emarketer.com/Article/Feature-Phones-Important-Mobile-Web-Use-Latin-America/1011774
http://www.ericsson.com/res/docs/2014/ericsson-mobility-report-june-2014.pdf - http://www.emarketer.com/Article/Internet-Hit-3-Billion-Users-2015/1011602
HOW WILL 2020 LOOK?
LATAM IS CLOSING THE GAP WITH THE ADVANCED ECONOMIES
Internet Users
Mobile Internet Users
B2C eCommerce
Retail mCommerce
Share of mCommerce
Account in a financial
institution
331.7 M
231 M
$89.7 B
-
-
51.1%
414.3 M
395.4 M
$366.9 B
-
-
74.7%
113.7 M
84.9 M
$ 35 B
$ 2.5 B
9.7%
68.1%
143.6 M
119.8 M
$ 179.8 B
$ 30.2 B
36.8%
83%
259.3 M
185.7 M
$492.1 B
$76.4 B
22%
93.6%
289.9 M
234.9 M
$ 811.7 B
$ 157.9 B
29%
96.6%
286 M
223.5 M
$ 382.7 B
-
-
94.8%
312.4 M
297.1 M
$ 567.8 B
-
-
97.8%
2015 2020 2015 2020 2015 2020 2015 2020
EU
1
2
3
4
5
6
LATAM BRAZIL US

9. Source: US Census Bureau | eMarketer | Own estimations
http://www.census.gov/prod/1/pop/p25-1130/p251130.pdf - http://www.emarketer.com/Article/Colombia-Joins-Top-Three-Smartphone-Markets-Latin-America/1011750
BY 2020…
Smartphone
users Latam
385M US Population
323M
LATAM WILL HAVE MORE SMARTPHONE USERS THAN US INHABITANTS

10. Source: US Census Bureau | eMarketer | Own estimations
http://www.census.gov/prod/1/pop/p25-1130/p251130.pdf - http://www.emarketer.com/Article/Nine-10-Latin-American-Social-Networkers-Use-Facebook/1010404
BY 2020…
Facebook
users Latam
343M
LATAM WILL HAVE MORE FACEBOOK USERS THAN US INHABITANTS
US
Population323M

11. US
Population323M
Source: US Census Bureau | eMarketer | Own estimations
http://www.census.gov/prod/1/pop/p25-1130/p251130.pdf - http://databank.worldbank.org/Data/Views/VariableSelection/SelectVariables.aspx?source=1228#
BY 2020…
Bank account
owners Latam
395M
LATAM BANK ACCOUNT OWNERS > 1.2 x US INHABITANTS

12. Source: Internet World Stats
http://www.internetworldstats.com/stats.htm - http://www.internetworldstats.com/pr/edi061.htm
LATAM´S INTERNET POPULATION 2020
51% OF WORLD WILL BE CONNECTED; 63% OF LATAM
Africa Asia Erope Middle East North America Latam Oceania
32
414
327
173
627
1,878
459
27
332310
113
582
1,386
321
2015
2020
LATIN AMERICA'S
INTERNET
POPULATION
WILL GROW 25%
IN THE NEXT 5
YEARS
GLOBAL
3.07 B → 3.91 B
(in millions)

13. Source: eMarketer | Own Estimates
http://www.emarketer.com/Article/Latin-American-Internet-Audience-Nears-310-Million/1011667
NUMBER OF INTERNET USERS
IN LATAM 2020
64% OF ALL INTERNET USERS ARE IN BRAZIL, MEXICO AND ARGENTINA
LATAM 414 M
63% penetration
BRAZIL 144 M
68% penetration
MEXICO 89 M
68% penetration
ARGENTINA
33 M
76% penetration
COLOMBIA
34 M
65% penetration PERU 22 M
65% penetration CHILE 14 M
75% penetration
OTHER 78 M
46% penetration

14. Source: eMarketer | WorldBank
BRAZIL VS LATAM
LATAM IS HUGE, BUT ECOMMERCE IS CONCENTRATED IN BRAZIL
Latam 414.3 M
Brazil 143.6 M
Internet Users
65%
35%
Latam 232.4 M
Brazil 99.9 M
Credit Card Users
57%
43%
Latam 442 M
Brazil 156 M
Mobile Phone Users
65%
35%
Latam $367 B
Brazil $179 B
eCommerce
49%
51%
Latam 662 M
Brazil 211 M
Population
68%
32%
Latam $6,694 B
Brazil $2,354 B
GDP
65%
35%

15. Source: eMarketer
http://www.emarketer.com/Article/Brazil-Rules-Latin-American-B2C-Ecommerce-Market/1011073
B2C ECOMMERCE SALES IN LATAM
BRAZIL IS THE LARGEST AND MOST ADVANCED MARKET IN THE REGION
It´s not a matter of size…
It´s about development:
Infrastructure
Technology adoption
Supply of goods & services
Buying patterns and cultures
Banking and credit card penetration
N
N
N
N
N
In January of 2015, mobile purchases accounted for 10% of retail eCommerce in Brazil
20.0
39%
8.7
17%
4.6
9%
17.9
51.3
23.4
37%
11.4
18%
5.5
9%
22.3
62.6
35.0
39%
16.1
18%
9.9
11%
28.7
89.7
49.9
42%
22.6
19%
13.1
11%
33.3
118.9
67.8
43%
33.1
21%
17.3
11%
39.4
157.6
91.9
44%
43.9
21%
25.1
12%
48.0
208.9
130.1
47%
58.1
21%
30.4
11%
58.1
276.8
179.8
49%
73.4
20%
40.4
11%
73.4
366.9
Brazil
Mexico
Argentina
Other
Latin America
Share
Share
Share
2013 2014 2015 2016* 2020*In Billion USD
2017* 2018* 2019*

16. Source: eMarketer
http://www.slideshare.net/Engelnator/e-marketer-mexico-online-2009-presentation slide 10 - http://www.emarketer.com/Article/Brazil-Rules-Latin-American-B2C-Ecommerce-Market/1011073
http://www.emarketer.com/Article/Global-B2C-Ecommerce-Sales-Hit-15-Trillion-This-Year-Driven-by-Growth-Emerging-Markets/1010575
LATAM´S ECOMMERCE IS CLOSING
THE GAP
IN 5 YEARS LATAM´S ECOMMERCE WILL BE EUROPE'S TODAY
B2C eCommerce will have grown x 16+ in 10 years!
2010 2011 2012 2013 2014 2015 2016 2017* 2018* 2019* 2020*
B2C eCommerce
sales in Latin America
2015
Western
Europe
Today
$ 22.2
Billion
$ 29.7
Billion
$ 36.8
Billion
$ 51.3
Billion
$ 62.6
Billion
$ 89.7
Billion
$ 118.9
Billion
$ 157.6
Billion
$ 208.9
Billion
$ 276.8
Billion
$ 366.9
Billion
$ 382.7
Billion
x 16.5

17. Source: eMarketer
http://www.emarketer.com/Article/Feature-Phones-Important-Mobile-Web-Use-Latin-America/1011774 - http://www.emarketer.com/Article/Ad-Spending-Western-Europe-Continues-Rebound/1011239
http://www.emarketer.com/Article/Latin-America-Lags-Far-Behind-Social-Ad-Spend-per-User/1011237 - http://www.emarketer.com/Article/Digital-Ad-Spending-Worldwide-Hit-3613753-Billion-2014/1010736
DIGITAL AD SPEND GROWTH IN LATAM
LATAM IS 1.5x GLOBAL AVERAGE AND MOBILE IS RAPIDLY GROWING
47.4%
23.4%
14.3%
16.5%
10.4%
15.0%
38.5%
28.7%
18.3%
17.1%
11.3%
16.9%
30.0%
18.4%
15.3%
15.1%
11.9%
14.7%
26.5%
18.3%
11.9%
14.0%
8.4%
12.4%
24.0%
15.9%
10.4%
11.2%
6.8%
10.3%
22.0%
14.5%
9.4%
10.7%
5.6%
9.6%
18.9%
13.5%
8.8%
9.8%
5.0%
8.8%
16.2%
12.5%
8.2%
9.1%
4.5%
8.1%
Middle East & Africa
Latin America
Asia-Pacific
North America
Western Europe
Worldwide
* Own Estimates
2013 2014 2015 2016* 2017* 2018* 2019* 2020*%change
Digital Ad Spending Growth Worldwide (by Region)
2013 2014 2015 2016 2017 2018 2019* 2020*
Mobile Ad Spending Total Ad Spending
70
60
50
40
30
20
10
0
Billions
Share of Mobile to total Ad Spending

18. Source: eMarketer
http://www.emarketer.com/Article/Latin-American-Ecommerce-Remains-Small-with-Few-Digital-Buyers/1010566
http://www.emarketer.com/Article/Brazil-Rules-Latin-American-B2C-Ecommerce-Market/1011073 - http://blog.digishopgirl.com/mobile-ad-spend-is-on-the-rise-in-brazil/
WHY BRAZIL LEADS THE WAY?
BRAZIL IS THE LARGEST AND MOST ADVANCED MARKET IN THE REGION
Smartphone users are expected to grow 83%
eCommerce is expected to grow x 5.1
Online Buyers are expected to grow 97%
Advertising is expected to grow 45%
Account Owners are expected to grow 27%
107 M
$180 B
71.7 M
$32.6 B
175 M
59 M
$35 B
36.1 M
$22.5 B
138 M
2015 2020

19. STARTUP BOOM IN SÃO PAULO
12th IN THE GLOBAL STARTUP ECOSYSTEM RANKING
Source: Compass
The Global Startup Ecosystem Ranking 2015
Silicon Valley
New York City
Los Angeles
Boston
Tel Aviv
London
Chicago
Seattle
Berlin
1
2
3
4
5
6
7
8
9
Singapore
Paris
São Paulo
Moscow
Austin
Bangalore
Sidney
Toronto
Vancouver
10
11
12
13
14
15
16
17
18
São Paulo is the 3rd fastest growing ecosystem

20. Source: GlobalFIndex 2014
http://databank.worldbank.org/Data/Views/VariableSelection/SelectVariables.aspx?source=1228#
CREDIT CARD OWNERSHIP IS KEY TO
UNDERSTANDING THIS
BRAZIL'S CREDIT CARD OWNERSHIP IS ON THE RISE, DRIVING ECOMMERCE
India Ecuador Bolivia Colombia World Mexico Venezuela Latin America Argentina Chile Brazil Uruguay United States
Credit Card Ownership
70%
60%
50%
40%
30%
20%
10%
0%
Whoownacreditcard(age+15)

21. Source: Kantar WoldPanel
http://www.kantarworldpanel.com/global/smartphone-os-market-share/
ANDROID HAS CONSOLIDATED ITS
LEADERSHIP
ANDROID IS NOW THE DOMINANT OPERATING SYSTEM ALL ACROSS
LATIN AMERICA
Android
iOS
Windows
Blackberry
Other
86.9%
4.6%
5.5%
1.3%
1.7%
Latin America
Android
iOS
Windows
Blackberry
Other
62.4%
33.2%
3.8%
0.6%
-
US
Android
iOS
Windows
Blackberry
Other
74.0%
24.4%
1.0%
-
0.6%
China
Android
iOS
Windows
Blackberry
Other
81.5%
14.8%
2.7%
0.4%
0.6%
India

22. 2011 2012 2013 2014 2015 2016* 2017* 2018* 2019* 2020*
36.8%
31.3%
25.1%
18.6%
13.6%
9.7%
4.8%
2.5%
0.8%
0.1%
Source: ETC | emarketer | Own estimates
http://etc-digital.org/digital-trends/ecommerce/mobile-commerce/regional-overview/latin-america - http://www.emarketer.com/Article/Mobile-Banking-Transactions-Rise-Sharply-Latin-America/1011229 /
http://www.emarketer.com/Article/Brazil-Ranks-No-10-Retail-Ecommerce-Sales-Worldwide/1011804 - http://www.emarketer.com/Article/Mobile-Trending-Among-Brazils-Buyers/1012288
MCOMMERCE
STRONG GROWTH IN MCOMMERCE = 31% CAGR
mCommerce
as % of Retail
eCommerce
transactions
in Brazil

23. Source: emarketer
http://www.emarketer.com/Article/Mobile-Banking-Transactions-Rise-Sharply-Latin-America/1011229
WHAT´S DRIVING M-PAYMENTS?
SMARTPHONES DRIVE STRONG GROWTH IN MPAYMENTS @14% CAGR
Preferred Banking and payment channel
2010 2015* 2020*
31%
16%
2%
4%
6%
27%
Bank branch Mobile phone
Smartphone Advantages
Convenience and flexibility
Better control over spending
Low financial inclusion combined with the high
mobile penetration
Less chances of getting mugged
E
E
E
E

24. Source: GlobalFIndex 2014 | The Millennial Dirruption Index
http://databank.worldbank.org/Data/Views/VariableSelection/SelectVariables.aspx?source=1228# - http://www.millennialdisruptionindex.com/wp-content/uploads/2014/02/MDI_Final.pdf
BANKING INDUSTRY IS RIPE FOR
DISRUPTION
AND DISRUPTION IS ALREADY ON ITS WAY
Account Penetration
Peru
Colom
bia
M
exico
Bolivia
Uruguay
Ecuador
Argentina
Latin
Am
erica
India
Venezuela,RB
W
orld
Chile
Brazil
United
States
Banking is at the highest risk of disruption
by millennials
Consumers don’t think their bank offers anything
different from other banks.
71% would rather go to the dentist than listen to what
banks are saying.
Innovation will come from outside
the industry. In 5 years...
68% believe the way we access our money will be totally
different
70% expect the way we pay for things will be totally different
E
E
E
E
1
2
100
90
80
70
60
50
40
30
20
10
0
% who have an account at a financial institution (age +15)

25. Source: ETC | EuroMonitor
http://www.euromonitor.com/india/country-factfile - http://www.euromonitor.com/china/country-factfile - http://blog.euromonitor.com/2015/01/life-in-latin-america-in-2015.html
2020 LOOKS GREAT,
BUT THE OPPORTUNITY IS TODAY
LATAM PER CAPITA CONSUMER EXPENDITURE $6,740
(2.25x CHINA, 6.6x INDIA)
Latin America is a consumer market the size of China but with a far higher per capita spending
$4.2 TRILLION
LATAM
623 Million
$4.1 TRILLION
CHINA
1,393 Million
$1.3 TRILLION
INDIA
1,282 Million

26. Source: ETC | EuroMonitor
http://www.emarketer.com/Article/Internet-Hit-3-Billion-Users-2015/1011602 - http://www.emarketer.com/Article/Emerging-Markets-Drive-Facebook-User-Growth/1009875
http://www.emarketer.com/Article/B2C-Ecommerce-Climbs-Worldwide-Emerging-Markets-Drive-Sales-Higher/1010004 - http://www.slideshare.net/brahms82/ww-mobile-phoneusersemarketer0713
http://www.slideshare.net/wearesocialsg
LATAM IS AMONG THE MOST
PROMISING MARKETS
INDIA IS BIG, LATAM IS HUGE
$17.45 tr
259.3 M
254.2 M
191.2 M
24%
161.8 M
50.73 B
151.1 M
GDP
Internet Users
Mobile Phone Users
Smartphone Users
Prepaid Mobile Phones
eCommerce Buyers
Digital Advertising
Facebook users
$2.3 tr
252.3 M
581.1 M
123.3 M
95%
65.4 M
0.97 B
195.7 M
$5.2 tr
331.7 M
406.9 M
152.6 M
80%
109.6 M
5.7 B
232 M
US INDIA LATAM

27. Source: The economist
https://twitter.com/ianbremmer/status/614169472098766848?utm_source=fb&fb_ref=Default&utm_content=614177040456118273&utm_campaign=RodrigoTeijeiro&utm_medium=fb
BY 2050 LATAM WILL REMAIN ON TOP
TOP 10 GDP: BRAZIL REMAINS IN 7th PLACE, MEXICO MOVES UP TO 8th
US (1)
China (2)
Japan (3)
Germany (4)
UK (5)
France (6)
Brazil (7)
Italy (8)
India (9)
Russia (10) 1,861
2,055
2,149
2,346
2,835
2,951
3,865
4,606
10,335
17,419
Nominal GDP 2014 - (U$S bn) Nominal GDP 2050 - (U$S bn)
China(1)
US(2)
India(3)
Indonesia(4)
Japan(5)
Germany(6)
Brazil(7)
Mexico(8)
UK(9)
France(10) 9,671
9,812
9,826
10,334
11,334
11,367
15,432
63,842
70,913
105,916
Economy moves up rankings
Economy moves down rankings
Economy remains at rankings

28. Source: Worldbank
http://databank.worldbank.org/data/reports.aspx?source=doing-business&Type=TABLE#
WE ALWAYS THOUGHT DOING
BUSINESS IN LATAM WAS HARD
WELL… INDIA IS EVEN HARDER
39.6%
46
7%
11.9
111.2%
20.7%
25.3%
Cost to enforce a contract (% of claim)
Procedures required to enforce a contract (number)
Cost to register property (% of property value)
Procedures required to start a business (number)
Minimum paid-in capital required to start a business (% of income per capita)
Labor tax and contributions (%)
Profit tax (%)
30.6%
39.8
6.1%
8.3
3.2%
14.7%
20.7%
INDIA LATAM

29. Source: Global Entrepreneurship Monitor
http://www.gemconsortium.org/country-profile/36
LATAM HAS VERY DIFFERENTREALITIES
STILL LANDSCAPE FOR ENTREPRENEURS ACROSS TOP LATAM COUNTRIES
LOOKS PROMISING VS INDIA
142
6.6%
3.7%
39%
37%
8%
38%
Ease of Doing Business
Total early-stage Entrepreneurial Activity
Established Business Ownership
Perceived Opportunities
Perceived Capabilities
Entrepreneurial Intention
Fear of Failure
120
17.2%
17.5%
56%
50%
25%
36%
124
15.9%
9.6%
41%
62%
31%
25%
INDIA BRAZIL ARGENTINA
39
19%
4.5%
49%
53%
17%
30%
MEXICO
41
26.8%
8.8%
67%
65%
50%
28%
CHILE

30. ARGENTINA EXPANDS OUTSIDE ITS
BORDERS
THOUGH SMALLER THAN BRAZIL, ARGENTINA IS GLOBALLY COMPETITIVE
1999
Tiger, Sequoia, Expedia
Private
US 1.3 B
Online Since
Select Investors
Type
Valuation/ Market Cap
1999
Hicks Muse Tate and Furst, Ebay Inc
Public
USD 5.99 B
2003
FTV Capital, Riverwood Capital
Public
USD 1.17 B

31. BRAZIL IS HUGE BUTPLAYS LOCALLY
BRAZILIAN COMPANIES STARTING TO GROW REGIONALLY WITH GREAT
OPPORTUNITIES AHEAD
Source: eMarketer
http://www.emarketer.com/Article/Brazil-Rules-Latin-American-B2C-Ecommerce-Market/1011073
1
2
3
4
5
6
7
$887
$800
$700
$375
$375
$250
$250
Rocket Internet
Tiger
Grupo Folha
Naspers
Seek
Insight
Kaszek
Valuation
(USD Million)
Lead InvestorFirm
1
2
3
4
$2,317
$2,112
$706
$375
BOVESPA
BOVESPA
BOVESPA
BOVESPA
Valuation
(USD Million)
Trade InFirm
Dafiti
Netshoes
UOL
Buscapé
Catho
Hotel Urbano
Viva Real
B2W
TOTVS
Grupo Linx
Alog
IPO VC/PE

32. THETIMETO INVESTIS NOW
BIG BETS IN LATAM; + USD 1.2 BILLION IN LAST 18 MONTHS ALONE
Source: Internal research, select deals
Complete list: https://goo.gl/eRnpsK
Elo7, EduK
Dafiti, Netshoes
Hotel Urbano, Elo7
Nubank, GetNinjas, Guiabolso, GOintegro, Contabilizei
Movile
GetNinjas, Elo7, Conta Azul, Emprego Ligado, Enjoei, Meus Pedidos
Psafe, BankFacil, Minuto Seguro, Resultados Digitais
Netshoes, Navent, GOintegro
Nubank
Hotel Urbano, Nubank, 99Taxis, GetNinjas, ContaAzul

33. - APPENDIX -

34. World
Latin America
Advanced Economies
MACROECONOMIC OUTLOOK
THE COMMODITY BOOM IS OVER, BUT THE RECOVERY IS ON IT’S WAY
Source: IMF
http://www.google.com/publicdata/explore?ds=k3s92bru78li6_#!ctype=l&strail=false&bcs=d&nselm=h&met_y=ngdp_rpch&scale_y=lin&ind_y=false&rdim=world&idim=country_group:
205:110&idim=world:Earth&ifdim=world&tstart=1403406000000&tend=1592794800000&hl=en_US&dl=en_US&ind=false
2015 2016 2017 2018 2019 2020
5,00%
4,00%
3,00%
2,00%
1,00%
0,00%
GDP Growth
3,45%
0,86%
2,36%
3,76%
2,01%
2,42%
3,85%
2,67%
2,18%
3,87%
2,81%
2,08%
3,93%
2,91%
1,96%
3,97%
2,98%
1,95%

35. FOREIGN DIRECTINVESTMENT
BRAZIL'S FDI INFLOWS ARE STILL LARGE AND GROWING
Source: PWC | CNN | IMF | United Nations | OECD
http://www.pwc.com.br/pt/ceo-survey-brazil/2015/index.jhtml - http://edition.cnn.com/2015/03/15/americas/brazil-protests/ - https://www.imf.org/external/pubs/ft/weo/2015/update/01/pdf/0115.pdF
http://unctad.org/en/PublicationsLibrary/webdiaeia2015d1_en.pdf - http://www.oecd.org/eco/outlook/mexico-economic-forecast-summary.htm
Top 10 economies by FDI inflows
(billion USD)
China Hong Kong US Singapore Brazil UK Canada Australia Netherlands Luxembourg
$36
$42
$49
$53
$61$62
$81
$86
$111
$128

36. LATAM´S ONLINE POPULATION
IS FAR FROM SATURATION
INTERNET PENETRATION
Source: eMarketer | WeAreSocial
http://www.emarketer.com/Article/Latin-American-Internet-Audience-Nears-310-Million/1011667 - http://www.slideshare.net/wearesocialsg
56%
43%
88%
26%
69%
81%
45% 38%
36%
19%
33%
51%
Central
America
South
America
Africa
Oceania
East
Asia
Southeast
Asia
Central
Asia
North
America
South
Asia
East
EuropeWest
Europe
Middle
East
Global Average
42%
Latam Average
54.1%
Internet penetration in Latin
America is still relatively
small. Nonetheless, Latam´s
online penetration reach
378.3M 2018 a 22% increase
compared to 2014

37. INTERNETUSERS 2020
BRAZIL IS BIG, YOUNG AND HIGHLY ACTIVE
Source: KPCB
http://www.kpcb.com/internet-trends
1
2
3
4
5
6
7
632 M
259,3 M
252,3 M
114 M
104 M
87 M
83 M
47%
84%
20%
56%
61%
84%
90%
Internet Users PenetrationRegion
China
US
India
Brazil
Japan
Russia
Indonesia
2015
Rank
1
2
3
4
5
6
7
850 M
465 M
290 M
143.6
142.8
107.6
105.5
59%
34%
85%
68%
53%
86%
75%
Internet Users PenetrationRegion
China
India
US
Brazil
Indonesia
Japan
Russia
2020
Rank

38. YOUNGER AUDIENCE
+60 % OF BRAZIL'S INTERNET AUDIENCE IS UNDER 35
Source: GlobalWebIndex
http://www.globalwebindex.net/blog/internet-users-in-latam-spend-the-most-time-online - http://www.statista.com/statistics/272365/age-distribution-of-internet-users-worldwide/
http://www.statista.com/statistics/319891/age-distribution-of-internet-users-latin-america/ - http://www.statista.com/statistics/254724/age-distribution-of-internet-users-in-brazil/
Global
Latam
Brazil 4.90%
7.20%
12.70%
11.60%
12.90%
13.70%
20.90%
21.50%
20.40%
23.20%
27.00%
26.70%
39.40%
31.40%
26.50%
0-24 25-34 35-44 45-54 Above 55

39. LATAM INTERNETUSERS ARE
HIGHLY ACTIVE
Source: GlobalWebIndex | eMarketer
http://www.globalwebindex.net/blog/internet-users-in-latam-spend-the-most-time-online - http://www.emarketer.com/Article/Brazils-Web-Users-Take-Top-Spot-Latin-America-Time-Spent-Online/1011152
Brazil
Latin America
Argentina
Peru
Chile
Venezuela
Colombia
Mexico
0 5 10 15 20 25 30 35
INTERNET USERS IN BRAZIL SPENT 37.7% MORE MONTHLY
TIME ONLINE THAN THE AVERAGE IN LATIN AMERICA
Average Monthly Time Spent Online
INTERNET USERS IN LATAM SPEND
THE MOST TIME ONLINE
Time Spent Online, by Region
Latin America
North America
Middle East & Africa
Asia Pacific
Europe
420 680% 20%40%60% 0%
Online PC/Laptop/Tablet Online Mobile

40. MOBILE ONLINE
Source: WeAreSocial | eMarketer | Ericson
http://www.slideshare.net/wearesocialsg - http://www.emarketer.com/Article/Feature-Phones-Important-Mobile-Web-Use-Latin-America/1011774
http://www.ericsson.com/res/docs/2014/ericsson-mobility-report-june-2014.pdf
3G &4G CONNECTIONS COMPARED TO MOBILE CONNECTIONS
57%
31%
85%
16%
84%
85%
53% 21%
34%
8%
48%
53%
Central
America
South
America
Africa
Oceania
East
Asia
Southeast
Asia
Central
Asia
North
America
South
Asia
East
EuropeWest
Europe
Middle
East
Global Average
38%
Latam Average
57%
Data volumes and revenues
are growing strongly in Latam,
fuelled by the changing device
mix with increasing
smartphone adoption and
mobile broadband services

41. MORE MOBILE PHONESTHAN PEOPLE
Source: eMarketer | WeAreSocial | GSMA | UOL
http://www.emarketer.com/Article/Nearly-400-Million-Latin-America-Used-Mobile-Phones-2014/1011818 - http://www.gsmamobileeconomylatinamerica.com/GSMA_Mobile_Economy_LatinAmerica_2014.pdf
http://tecnologia.uol.com.br/noticias/redacao/2014/11/14/numero-de-linhas-de-celulares-no-brasil-passa-de-278-milhoes.htm#fotoNav=17
THERE ARE MORE MOBILE CONNECTIONS THAN PEOPLE IN BRAZIL
2013 2014 2015 2016 2017 2018
434.4426.1416.5406.9395.5
379.5
63.2% 65.2% 66.4% 67.3% 68.2% 68.9%
Mobile Phone Users Latin America
By September 2014, there were 702 million mobile
connections in Latin America (112,3% compared
to population) +80% prepaid connections
In Brazil, there are 278 million mobile connections
(138% compared to population)
75% prepaid connections
57.0%
62.0%
67.0%
72.0%
77.0%
2013 2014 2015 2016 2017 2018
Brazil Mexico Argentina Latam
Mobile Phone user penetration by Country

42. RecargaPay is airtime and bill payments for the mobile generation.
The main problem we are solving is the +20 min that most people in Latin
America spend in lines to pay for airtime or utilities, when they could be
transacting on their mobile in 10 seconds. This happens billions of times a
year. The second problem is that access to smartphones largely exceeds
banked population, which means that many are left out of the convenience of
mobile payments, due to lack of access to digital payments.
RecargaPay is already the leading mobile prepaid top-up platform in Brazil and
Latin America, (with over 1 million mobile customers), and it is now expanding
into utility bill payments and financial services for the unbanked.
We feel that it is time to democratize mobile payments.
More info: http://recargapay.com/about