PayU Latam offers account options for both local and international merchants. Therefore, e-merchants in Latin America looking to sell products within their country can do so using PayU. The PayU Latam brand is operated by Pagosonline, an e-commerce service provider.
According to research company eMarketer, the e-commerce industry in Latin America is still in its infancy with sales expected to reach USD 36.82 billion in 2012. However, online shopping is showing signs of accelerated growth. Projections indicated that by 2016, B2C sales will exceed USD 62.42 billion, up by 58 percent as compared to what is expected for 2012.
PrestaShop is an open-source web-based application for e-commerce, which is currently integrated in more than 120 000 online shops in 150 countries. Owned by multinational media group Naspers, PayU enables businesses to accept debit and credit card payments online.
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