INFOGRAPHIC | The Latin American market is advancing at an amazing rate with countries like Brazil, Mexico and Chile leading this growth. Only 43% of the LATAM population currently access to the internet proving there is still room for expansion in the market. The latest infographic from Worldpay looks at the digital content landscape in LATAM and highlights potential areas for further development.
The Brazilian Ecommerce Market
Brazil, making up over 50% of all ecommerce transactions is the focus for most global companies looking into LATAM. With a large tech savvy young audience it is ideal for social, media and video game companies looking to expand into new markets. Brazilians are also the most open to alternative payment models such as subscriptions and micro-transactions, which companies looking to move into the country should consider offering. There’s also a skew towards mobile payments, which is a trend amongst emerging markets.
Alternative Payment Methods essential in Brazil
However Brazil has considerable money movement limitations that can take some by surprise. 45% of consumers in Brazil use alternative payments rather than cards, so knowing what payment methods to look at is essential. Worldpay has recently bolstered its capabilities in the market with the acquisition of Cobrebem, allowing merchants a simplified route into Brazil to move to and succeed in the market.