Latin Americans are benefiting from the convenience and benefits of online retail shopping in extraordinary numbers.
These rapidly growing retail sales are driven by global platforms captivating new markets through providing better shopping experiences to end consumers. Optimising payment processing is critical.
PayRetailers is a European Paytech specialist in LATAM – with local experts in each market. We support retailers in their goal to seamlessly process end-to-end transactions by offering an all-in-one payment solution.
Statista estimates that the e-commerce market in Latin America reached a retail sales value of US$80.5 billion in 2021. It is expected to exceed US$105.5 billion by 2025. Brazil, Mexico, Argentina and Colombia are showing the highest growth in the number of transactions.
Statista’s projections indicate that by 2025, the fastest-growing retail categories in the region will be electronics, generating around US$88 billion, and fashion, worth around US$50 billion in revenue.
Global retailers planning to do business in the region must be prepared to successfully handle these volumes in a frictionless and flexible manner. PayRetailers offers payment solutions for e-commerce with a focus on streamlining end-to-end cross-border transactions without the need for a local entity.
The strength of local payment methods for success in Latin America
According to a recent study by Americas Market Intelligence (AMI), up to 80% of Latin Americans prefer to shop with local payment methods, such as credit cards, when shopping in international marketplaces.
Through our single API integration, PayRetailers Payment Service Provider (PSP) gives international retailers the benefit of accessing a technology platform that opens the door to more than 250 local payment methods in the region. There’s no need for you to establish agreements with dozens of entities in each country.
There are a number of ways to capture customers in LATAM through preferred payment methods:
– Cash: your customers will be able to shop online and generate coupons or codes (depending on the country) to pay for their digital purchases at physical points of sale.
– Payment links: Payment links are growing in popularity in Latin America, thanks to the ease of generation, use, and viralisation.
– Local credit cards: these remain at the top of regional preferences for online shopping.
– And many others: with PayRetailers you can access a platform that enables you to choose from 250 payment methods in more than 12 countries.
Local expertise for global business
PayRetailers offers personal, local advice and support 24/7 for each local market where we operate. Our team of experts is always ready to help you when you need it.
With flexible and highly scalable technological architecture, PayRetailers provides a fast response to the demands of online businesses of industries of all sizes. A priceless contribution to our added value are our teams of experts with local experience in the more than 12 countries where we operate.
Thanks to our operational advantage, PayRetailers improves the performance of international merchants in Latin America by offering:
– Local experience: end users appreciate familiar shopping and payment experiences – with emphasis on the local. PayRetailers’ personalised support localises the consumer journey, avoiding pain points at key moments of transaction, such as selecting preferred payment methods in each country.
– Regional insights: the sales potential of an online business grows exponentially with the help of a local payment partner who really knows and understands the behavior of consumers in the region. PayRetailers has a significant competitive advantage with local experts in countries with the biggest opportunities such as Mexico, Brazil, Argentina, Colombia and Chile.
– Localised anti-fraud system: PayRetailers’ fraud prevention is tailored to each company through a large-scale adaptive machine learning solution – fully compatible with large retail transaction volumes, consumer location and business priorities.
– Single integration: PayRetailers’ convenient and dynamic integration unlocks the ability to adapt to the needs of any retail business with a single key, regardless of its vertical. Our flexible and robust API technology seamlessly integrates our payment methods to your platform, directly enhancing the payment experience for your users. We offer both WooCommerce and PrestaShop plugins, making any platform developer-friendly, adapting to the preferences of millions of shoppers.
PayRetailers, always up-to-date with retail trends
As a Paytech leader in LATAM, PayRetailers is always present at key industry events, keeping informed with market developmentments and contributing to the rapidly evolving e-retail ecosystem.
PayRetailers had a prominent presence at the White Label World Expo 2022 at the Javits Center, New York, at the end of September. This expo is the leading event in the United States for resellers of white label products and the meeting place par excellence for vendors, buyers and financial technology experts, such as PayRetailers, who offer cutting-edge payment services for global companies seeking to take advantage of the incredible opportunities for growth in e-commerce offered by Latin American countries.
In October, PayRetailers’ team of experts joined other tech leaders at Money 20/20 USA – the premier event for C-level executives, renowned speakers, Fintech banking and payments innovators and disruptors. For four extraordinary days, we engaged in the invaluable conversations and connections that enable e-commerce companies from all industries to scale their business goals and shape the future together.
Choosing PayRetailers as your payment provider is the wise choice to lighten the burden of successful expansion in Latin America. Our flexible, and secure technology adapts to all types of businesses with global goals. Don’t hesitate to contact us!