Consumer credit in Paraguay reached $6.02 billion in July, a 25% growth compared to the same period in 2025, representing 19% of the total bank loan portfolio. Credit card financing grew 31.4%, reaching G. 7.1 trillion, while the default rate in the segment rose to 5.3%.
The lowest-value credit lines, up to G. 3 million, show the highest growth (50%) and the highest delinquency rate (7.2%), indicating that many Paraguayans are using credit for basic expenses. The International Monetary Fund (IMF) has issued warnings about over-indebtedness risks, especially among more vulnerable populations, but the Central Bank of Paraguay attributes the growth to greater financial inclusion and economic expansion.
In parallel, e-commerce is experiencing significant growth. Projections presented at the Pay Meeting, an event by the Paraguayan Chamber of Payment Methods (CPMP), indicate the sector should surpass 40 million transactions in 2026, a nine-fold increase from 2022, with a projected financial volume of $662 million. Credit cards lead as the payment method, followed by debit cards.
Amanda Rojas, country manager of Fenicio, an e-commerce platform company, stated that the sector is growing 23% annually and moved around $2 billion in 2025, with eight out of ten purchases being made at local stores. She highlighted that the Paraguayan consumer is more demanding and seeks digital experiences equivalent to physical ones.
After a period of intense growth, credit card issuance has slowed slightly, with 2,537,405 units in circulation in July, a number slightly lower than in June. However, total credit card debt continues to expand, reaching G. 6.73 trillion in July, a 28.1% increase compared to the same month in 2025.
Meanwhile, the absence of PayPal in the Paraguayan market remains a point of discussion in the technology and payments sector. Joaquín Morínigo, founder of CriptoPy, stated that the country does not need the platform, citing high commissions and poor support, and pointed to alternatives like Meru and UglyCash for international transactions. Andrea Vronik, Innovation Director of the Paraguayan Chamber of the Software Industry (Cisoft), confirmed that PayPal has never officially expressed interest in operating in Paraguay, and that fintech professionals have already adapted to other options.