Cross-Border Payments in an Exciting e-Commerce Market.
Latin America is a very exciting market for merchants that want to expand their services cross-border. Home to 656 million people and 260 million online shoppers, Latin America is the region with one of the fastest-growing e-commerce markets in the world. In Latin America, e-commerce is expected to reach a $379 billion value by the end of 2022 at a 32% CAGR.
This long-read explores:
- Preferred payment methods in the region.
- The rise of PIX and other innovative instant payment methods.
- Market opportunities in Brazil, Mexico and Colombia.
“Although credit cards remain the region’s preferred online payment method – 39.3% of last year’s transaction value – digital wallets were used in 19.2% of online purchases. Mexico leads the way with a quarter of online purchases paid through e-Wallets. Latin American e-shoppers use PayPal, Apple Pay, Google Pay and they can choose from a growing amount of regional wallets like NuBank, Mercado Pago, PicPay, PagSeguro and RappiPay.
One tenth of online purchases are currently paid with bank transfers, but this figure is bound to rise, once the PIX revolution expands from Brazil to the rest of Latin America.”
Please click here to read the rest of this interesting long-read that I have written on behalf of global Payment Services Provider Segpay Europe.