The Role of Alternative Payment Methods in Latin America

Explore the impact of Alternative Payment Methods (APMs) on Latin America’s holiday season sales. Discover how PayRetailers, with its diverse payment options and advanced features, is a key ally for businesses in this unique market. Learn about the rising demand for APMs, the importance of personalization, and why adapting to diverse payment methods is crucial. Join PayRetailers at ICE London 2024 for insights into optimal business approaches in emerging markets.

As the holiday season approaches, Latin America witnesses a significant surge in e-commerce, particularly in the retail sector, with an 80% increase during festivities according to a study by SAP Commerce. In this evolving retail landscape, PayRetailers emerges as a vital ally, offering both alternative and traditional payment methods to meet the demands of emerging markets. Explore effective methods preferred by the Latin American audience and innovative strategies for an exceptional shopping experience.

In the holiday season, 55% of expenses are linked to gift purchases, with digital and tangible goods being the most committed categories. On average, each user buys at least 10 gifts. Reasons for online shopping preference include time savings (57%), 24/7 service (48%), and convenience (48%). Notably, 60% of shoppers start in November, and 89% use their mobile devices for product searches.

Why offer Alternative Payment Methods (APMs)? By 2025, alternative methods like digital wallets are expected to constitute 53% of global payments according to Statista. In Latin America, each country has its own digital market peculiarities, emphasizing the need to adapt to various online payment options. A study by Oxford Economics emphasizes that 56% of consumers would stop shopping on a website if their preferred payment methods weren’t available, underlining the importance of versatile payment options.

PayRetailers understands the challenges and opportunities of LATAM payment ecosystems. Its platform serves as a true differentiator, allowing businesses to manage multiple payment methods with a single integration. The platform provides analytical tools and advanced fraud management features, empowering merchants to optimize performance in the diverse Latin American market.

In exciting news, PayRetailers announces its participation in ICE London 2024, ExCel, London, February 6-8, marking a prominent presence in the gaming industry. Join the team to explore the extensive range of products and the latest developments, securing a pre-meeting to revolutionize your business game in the Latin American market.