Next to its European headquarters serving the EMEA region and offices in North America and the Asia Pacific region, GlobalCollect has recently established a presence in Buenos Aires to service the Latin American region.
This latest strategic move underscores GlobalCollect's belief in the significance of regional outposts with local employees who know the intricacies of their markets, speak the respective languages, and can consult on cultural payment preferences.
Latin America is expected to boast compound annual growth rates of 40 per cent over the coming years and an e-commerce turnover of $30 billion in 2010. According to the World Bank, only 30% of Latin American adults have a bank account (as opposed to 91% in the US), showing how crucial offering alternative payment methods - especially cash - is for e-commerce merchants to succeed in this market. With an unrivalled portfolio of local and alternative payment methods, its single interface platform WebCollect being able to process transactions in Spanish and Portuguese and contracts with local acquirers such as Barcode Santander in Chile, Pago Fácil in Argentina, and Boleto Bancário in Brazil in place, GlobalCollect is extremely well positioned to service this market.
Jan Manten, CEO of GlobalCollect, said: "We are very proud to spread our service portfolio and commercial footprint to accommodate an increased focus by merchants to develop their e-commerce business in this fast growing region. This latest expansion is further testimony to GlobalCollect's success story. "