The use of digital wallets is accelerating rapidly in Latin America thanks to the security, speed and convenience that they offer international merchants and end customers. PayRetailers enables easy payment integration for international companies through the most popular e-wallets in each region.
Digital wallets are gaining popularity as the fastest growing means of payment globally. Now is the moment for leading companies in the e-commerce ecosystem to adopt digital wallets as one of the main channels for closing online sales.
In 2021, e-wallets processed 48.6% of the world’s e-commerce transactions hitting US$ 2.6 billion. According to a FIS report, their share is estimated to reach 52.5% by 2025.
This presents the challenge of how to maximise your payments with e-wallet transactions. Agile payment processing platforms, such as PayRetailers, have the technological capacity, local vision and experience to help companies operating a cross-border model to enter and to boost their sales in Latin America.
Advantages of integrating digital wallet payments through PayRetailers
For the end consumer, digital wallets offer an easy user experience and robust security when making their online payments. Friendly navigation reduces friction and simplifies the steps to completing a purchase. Clearly it’s essential to offer the most efficient, reliable and sophisticated online sales site.
PayRetailers API integration offers a seamless experience with no interruption at the moment of payment. The idea is to make payments an invisible action, embedded in the overall shopping experience.
Just some of the advantages of integrating digital wallet payments through PayRetailers:
– Growing payment method: Digital wallets are gaining prominence as a means of mobile payment in Latin America thanks to the wide penetration of mobile internet. According to Statista, almost 60% of the population in LATAM and the Caribbean are active users.
– Financial inclusion: As they can be used without a bank account, digital wallets raise the opportunity for financial inclusion opening online shopping to new markets.
– Security: Digital wallets guarantee greater security by using tokenized payments which protect both the user and the companies integrating them as payment methods.
A key payment trend keeping you one step ahead of the market
PayRetailers offers merchants a single API to access the available digital wallets. Digital wallets are familiar to the buyer, user-friendly, and the transaction is confirmed in real time for both merchants and customers.
Our technology can be embedded in e-wallets within the mobile app architecture, to boost other payment methods such as bank transfers, card or QR code payments
According to a survey carried out by Mastercard, this year, 66% of Latinos are expected to adopt contactless payment methods, such as QR codes, for faster, safer and more flexible digital experiences.
As well as offering more than 250 local payment methods in the 12 countries where we operate, PayRetailers enables multi-currency payments. International merchants can close sales in Mexican pesos, Argentinean pesos, Brazilian reais, Peruvian soles …. with no need for customers to change currency at the moment of purchase.
The payment technology of digital wallets is highly secure as it is based on tokenization which encrypts the data of physical transaction methods, such as credit cards. By adding an additional layer of security, sensitive data isn’t compromised and card number or CVV information can’t be exposed to fraudulent use.
Users only have to sign up only to an account, card or wallet – they don’t have to repeatedly authenticate their details. This is another reason for the increasing popularity of this payment method.
Simple integration guided and supported by experts in Latin America
The e-wallet payment processing option can be easily integrated to any app or web. PayRetailers’ flexible API can be easily incorporated into any app or web offering products or services, regardless of the sector or size of the industry, without modifying brand identity.
Our support focuses on the peculiarities of each country. Our technical staff are based in 12 countries in the region, with expertise in each of the local areas where you may look for advice. Our experts provide an in-depth overview of the most popular payment methods, the competition, and general knowledge about the market.
This close-tracking significantly reduces market entry risks, improves time to market and guarantees an all-in-one integration service, without having to deal with potentially hundreds of payment providers individually.
With PayRetailers as the powerful payment processor behind you offering seamless and reliable integration, digital wallets have the potential to dramatically leverage online sales and drive your revenue. Contact us now!