EBANX integrates with credit cards in Argentina

In addition to accepting local cash payments and payments made with credit cards from international schemes in Argentina, EBANX merchants will be able to accept payments with credit cards from two Argentinian local schemes – Cabal and Naranja.

According to the press release, merchants that offer this option to their Argentinian consumers are expected to see an increase in cross-border sales to the country. Over 80% of online consumers declared they like to pay for their purchases using credit cards, according to the annual study conducted by the Argentinian Chamber of Electronic Commerce (CACE).

Argentinas ecommerce market is among the three fastest-growing ones in the world, according to Focus Economics. Internet and mobile penetration are among the main reasons for that. Over 63% of the Argentinian population is connected to the internet, according to Statistas data.

In the first half of 2018, ecommerce in Argentina grew 66%, compared to the same period of 2017, as reported by the Argentinian Chamber of Electronic Commerce. This means that the first half of the year, alone, generated almost 97.9 billion pesos (USD 2.7 billion). Cyber Monday, a three-days event that happened in October 2018, generated almost USD 200 million. CACE reported a growth of 39% compared to 2017s edition of the shopping event.