Voice of the Industry

The importance of localisation in ecommerce and cross-border selling in LATAM

Thursday 22 February 2024 08:19 CET | Editor: Diana Lupuleac | Voice of the industry

PayRetailers shares insights regarding the importance of localisation in ecommerce and cross-border selling in LATAM.


Ecommerce in Latin America has undergone a significant evolution. With a population of 640 million and a grwoing trend towards cross-border payments, its potential is remarkable.

In the region, cross-border transactions account for 50% of total operations. In this dynamic environment, PayRetailers has positioned itself as a key player, offering localised payment solutions that adapt to a variety of methods in multiple currencies, from cards and digital wallets to cash payments.

Payments work as a crucial pillar for strategic growth and, when managed through a unified platform, they can simplify operations, drive cross-border trade, and have a significant impact on businesses in previously unimagined ways. Below, we will examine how PayRetailers’ innovative solutions in Latin America, with their focus on localisation, are making a difference.

Breaking barriers in LATAM

Currently, 85% of the world’s population resides in emerging markets,  and, in Latin America, the opportunities are significant, given the growing digitalisation of the region, which already exceeds 60%. PayRetailers is dedicated to breaking down barriers in LATAMby addressing monetary and regulatory challenges in more than 12 countries.

One of the main challenges for merchants is to overcome geographical limitations and rigidity in payment options, which often results in difficulties to meet users’ needs. PayRetailers has addressed this gap by developing a client-centred platform, which continuously improves their experience through a seamless payment system and a localised checkout process.

This solution allows customers to make purchases without leaving the website, using their preferred payment methods, which are adapted to the specificities of each country, and offering a wide range of options, from traditional to alternative methods, with intelligent routing to ensure successful transactions. Integrating a quick and easy payment process at checkout can increase conversion rates by up to 20%. This optimisation in the shopping experience generates greater confidence and comfort in customers when making online transactions, which translates into a greater willingness to complete the purchase.

The ecommerce ecosystem in LATAM

The ecommerce scene in Latin America shows a steady increase, with more than 300 million shoppers. The availability of a wide range of payment methods, including cards, cash, and online payments, has boosted both local and international shopping.

Regarding the preference for cross-border payment methods in Latin America, 58.4% prefer paying with international credit cards, 17.8% use debit cards, 7.9% choose bank transfers, 6.9% digital wallets, 2% prefer local credit cards, and the rest of 6.9% opt for other methods.

Digital payments play a crucial role in the development of industries, by benefiting both the banked and unbanked population. In Peru, where 58% of the population is not affiliated with a traditional banking institution, PayRetailers promotes financial inclusion by offering digital payment services such as digital wallets, QRcodes, and mobile payments through other methods, such as BCP or BBVA.

Chile is also experiencing a 93% increase in local ecommerce transactions and a 79% increase in international sales. PayRetailers adapts to the needs of this market by offering methods such as Webpay and Khipu, which are among the most popular online payment methods in the country.

Brazil is one of the continent’s economic powerhouses, noted for its robust digital and cross-border trade, with an ecommerce sector valued at USD47.635 millions). In response to the demands of this dynamic and demanding market, PayRetailers offers instant payments through Pix, the preferred payment method for most people in the country. With its speed and efficiency, it has become a powerful tool for ecommerce and, by enabling instant payments 24 hours a day, 7 days a week, it facilitates smooth and fast cross-border transactions.

In Colombia, cross-border sales represent 34% of the total ecommerce sales in the country, and the country is expected to become one of the three most innovative economies in the region by 2025. In this market, PayRetailers offers a variety of online payments and the possibility to make payments with credit cards, such as Visa, one of the most popular methods in digital commerce, or PSE, which accounts for 52.7% of ecommerce payments


The importance of localisation in ecommerce and cross-border selling in LATAM


In other markets, such as Costa Rica, international payment methods and cross-border transactions prevail, accounting for 77% of the total ecommerce volume. A remarkable 87% of the population has access to the Internet, and 70% have a bank account, showing a progressive trend towards banking and digitalisation. PayRetailers is focused on expanding payment methods to meet user preferences and streamline the purchase cycle in this country. 

Overall, the landscape of cross-border payment method preferences in Latin America reflects the diversity of options, and this variety underscores the need for flexible solutions tailored to local preferences. 

As ecommerce in the region continues to evolve, it is key to have a payment partner like PayRetailers, which operates in more than 12 countries in LATAM, with its innovative approach and strong presence in the region. Its robust strategy facilitates cross-border trade, ensures global expansion, and minimises obstacles, thus optimising business growth and profitability.


This editorial piece was first published in The Paypers' Cross-Border Payments and Ecommerce Report 2023–2024 , which taps into the fast-growing cross-border market and provides a comprehensive overview of trends and developments that are pivotal in this space, being the ultimate source of information for ecommerce businesses interested in expanding globally.

About PayRetailers

Founded in 2017, PayRetailers is a global online payment service provider, specialising in Latin America. Through a flexible API, advanced technology, and commercial agreements, PayRetailers grants access to over 250 local payment methods. Headquartered in Spain, it has strategically located offices across Latin America, Bulgaria, and Isle of Man, among others. Learn more here and follow us to stay updated.

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Keywords: ecommerce, cross-border payments, cross-border ecommerce, local payment method, expansion, payments , credit card, cash, online payments, financial inclusion, QR code
Categories: Payments & Commerce
Companies: PayRetailers
Countries: Latin America
This article is part of category

Payments & Commerce


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