EBANX processes cash payments for GearBest in Peru

GearBest is a Chinese retail online store with more than 40 million users around the world. EBANX is processing the widely used PagoEfectivo cash payment method for the retailer in the country.

When choosing PagoEfectivo at checkout on GearBest’s website, Peruvians receive a numeric code, which they can use to pay with cash for the purchase. This can be done by going to one of the 40,000 authorized agencies that accept PagoEfectivo throughout the country.

It is also possible to pay for purchases by using internet banking and utilizing the numeric code. Other global websites that collaborate with EBANX for payment processing in Peru include Xsolla and Deezer.

Around 77% of Peruvian ecommerce buyers purchase from cross-border online stores, according to Ipsos. In spite of this interest in cross-border commerce, only 20% of Peruvians have a credit card, as reported by Statista. This means that 80% of the population in Peru cannot buy from international websites unless these merchants offer alternative payment methods, such as cash payments.