The addition enables cross-border merchants and partners to accept local payment methods, domestic, and international card schemes in the region. By leveraging this solution, consumers can expand into Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, Peru, and Uruguay and operate there without having a local presence.
The Brazilian ecommerce market was worth USD 112.4 billion USD in 2020, making it the largest in Latin America, according to the press release. In addition, domestic credit cards accounted for USD 54.1 billion of ecommerce spend, and payments vouchers and wallets combined accounted for USD 29.3 billion. Alternative payment methods account for more than 20% of digital payments across Latin America, making accepting the preferred payment options integral to attracting local consumers, says emerchantpay.
As part of the proposition, payments will be processed in the local currency and can be settled cross-border in the merchant’s currency of choice or in the local currency if preferred by a merchant. The solution is available across multiple industries, such as online retail, travel, digital goods, and financial services.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now