DUBLIN | Alpha Payments Cloud expands its Latin-America product offering through a partnership with EBANX, the market leading ecommerce payment service provider in Brazil. Alpha Payments Cloud's payments solution - called AlphaHub - will offer banks and merchants to process local online payments including instalments in Brazil and the LATAM region.
Market Leader in Brazil
EBANX is the market leader in eCommerce payment solutions for international merchants in Brazil. Through EBANX, merchants can offer payment methods preferred by the Brazilian market, removing international barriers. Through this new partnership, AlphaHub customers access to increased authorization and conversion rates through the ability to accept local payment options, including Boleto Bancario.
Alternative Payments Methods Key in LATAM
The growth of eCommerce in the developed world has generally seen an uptake through the use of credit cards and access to high-speed internet. Latin America ecommerce is somewhat different as online shoppers in countries such as Brazil are more likely to belong to the middle or low-income bracket. With international credit cards being accessible by only about 30% of the population, alternative methods of payment are extremely popular in LATAM countries such as Brazil.
Brazil: the 7th largest eCommerce market
Currently ranked as the 7th largest eCommerce market, by 2016, Brazil is expected to become the 4th largest eCommerce market in the world. There is a huge opportunity for merchant growth as Brazil makes up as much as 59% of all B2C eCommerce in the LATAM region, with beauty, fashion and entertainment leading the way in online sales.
“While all eyes were on Brazil this summer from a sporting context, Brazil is a very exciting market for global eCommerce,” commented Rónán Gallagher, Head of Product for Alpha Payments Cloud. “Having access to local payment methods in Brazil is essential for market penetration and so we are very excited to partner with EBANX to open up Brazilian eCommerce to global merchants.”
Sourced from Press Release Alpha Payments Cloud, November 5th, 2014