Unlimint has added PicPay to its product portfolio to facilitate merchants to reach the LATAM market. European and UK businesses can now offer regional clients a range of payment methods, including local ewallets, cash-based payments, standard cards, and the option to pay with credit cards.
Many have embraced new technologies like online payment solutions and apps because of the COVID-19 epidemic, as per the press release. Research by Statista shows that Latin America’s online shoppers are expected to increase by over 20% by 2025. It is also projected to reach USD 160 billion USD in the same year. According to KPMG’s Pulse of Fintech report, an estimated 10.8 million Latin Americans purchased their first online product during the lockdowns. In 2021, fintech investment in the country surpassed USD 5 billion.
Unlimint officilas stated that they are happy to be able to offer one more alternative payment method to businesses in LATAM. PicPay has been added to Unlimint’s portfolio to show that the company believes in enabling clients to grow wherever they are. Any European merchant who wants to expand in LATAM should consider PicPay as an option or cash-based payment method. If businesses outside the region do not offer local payment methods, they are essentially losing a chunk of the market, they added.
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