Live Gamer, Inc., "LGI", a leading provider of digital commerce solutions for the interactive entertainment industry, today announces support for additional payment methods in eight Latin American countries.
LGI's offering makes available the most popular local payment methods in each territory including pre-paid, bank transfers, local credit and debit and mobile. LGI's solution also includes a turn-key service that handles the complex issues surrounding cross-border payments. LGI has diligently worked to bring the most comprehensive Latin American payment solution to global merchants of any provider today and deepens its support in Brazil, Argentina, Columbia, Mexico, Chile, Peru, Uruguay and Venezuela.
In Latin America, accepted forms of payments include cash-based methods such as Boleto Bancario, online bank transfers as well as major credit cards such as Visa and MasterCard through local card acquiring relationships. Processing locally significantly increases approval rates and reduces cross-border fees. By partnering with LGI, global merchants can effectively sell their digital products and services to consumers in one of the fastest growing markets.
"From our research we know that only accepting major credit cards leaves out a revenue opportunity of 50-90 percent in an international context, and accepting major credit cards from global processors actually results in higher decline rates. We continue to see strong growth for digital content and, consequently, a need for streamlined digital payments in South America," said Joost van Dreunen, CEO & Founder, SuperData Research. "For example, by using local credit
cards, content providers can increase revenue by 60-70 percent in a leading market like Brazil, where more than half of all credit cards not enabled for international payments tend to be declined."
"To optimize revenue in Latin America, it is critical that digital merchants accept local payment methods and process credit cards via local acquiring relationships," said Clayton Foster, GM of Global Payments for Live Gamer, "LGI has made it easy for our partners to improve their monetization in these markets through our comprehensive payment line up and by handling the local complexities and repatriation of funds, our partners can focus on what they do best - offering the best content and services."
LGI supports more than 40 payments methods in 15 Latin American countries in total. Top methods include 20 cash-based methods, Boleto payments such as Boleto Bancario in Brazil, online bank payments in six countries, local e-wallet methods such as MercadoPago and PagoSeguro, and more.
These methods have been incorporated into Live Gamer's Elements platform, which offers enterprise-level digital content providers a secure and scalable, SaaS-based digital e-commerce solution. Pay+ is an advanced transactional product that allows digital content providers to immediately start selling content on a global basis through the top performing payment methods by country. Beyond speed and cost-effectiveness, the two represent complete solutions, handling a number of related services including PCI DSS-compliancy, fraud mitigation, VAT/sales tax handling, and end-user transactional customer support. Both products will now include the preferred forms of payment for Latin American consumers.