Payment technology solutions have found fertile ground for expansion in Latin America given the lack of financial inclusion in the region, which in turn has put firms in this industry in a favorable business position. Latin America is home to around 300 million digital shoppers, a figure that is expected to grow by more than 20 percent by 2025. PayRetailers, the main LATAM Fintech’s payments specialist, announced the opening of new offices in Peru, a move that will help the company be closer to its customer base and consolidate its presence in one of the fastest growing markets. Moreover, it will enable the company to serve strategic markets throughout Latin America and innovate alongside dynamic financial service providers to offer differentiated and innovative digital experiences to its customers.
The company recently acquired two online payment platforms, Paygol of Chile and Pago Digital of Colombia. The two acquisitions strengthen PayRetailers’ broad and deep move to tap into the potential of e-commerce payments in Latin America. The agreement gives Paygol and Pago Digital access to PayRetailers’ extensive technical expertise, marketing resources and financial investment to grow at a scale. Understanding the complexities and challenges specific to the continent’s markets is one of the biggest challenges the companies looking to expand their operations in the Latin American market need to face. The acquisitions reinforce PayRetailers’ position as the leading Fintech payments specialist for Latin America and efforts to simplify B2B e-commerce across the region. PayRetailers is a leading online payment services provider, dedicated to creating a fast and simple payment process for merchants and shoppers. The company offers a full range of payment solutions to help e-commerce companies accept online payments through a single API integration. A clear understanding of consumer behavior and spending in their specific sector will be the difference between success and failure for merchants looking to expand internationally across certain e-commerce verticals. By accepting local payment methods, PayRetailers allows anyone to make online purchases, even if they don’t have credit or debit cards. PayRetailers is headquartered in Spain, with regional offices in Mexico, Argentina, Brazil, Chile, Colombia, Uruguay, and Peru.