Source: Alpha Payments Cloud
Alpha PaymentsCloud, connecting acquirers, merchants, and product providers on one platform through the APC Product Hub, and SafetyPay, the ultimate, real time alternative payment solution that enables consumers to shop from merchants worldwide and pay directly from their bank account in their local currency or in cash, have announced a partnership that will see SafetyPay's alternative payment methods offered to customers of international banks and merchants connected through the Alpha Payment Cloud Product Hub.
The Latin America region has 254 million Internet users in total who account for about 42.9% of the region's population. This figure is only 20 million shy of total North American internet users. Rapid internet penetration has seen ecommerce growth remaining in double figures for Latin America, with players such as Brazil expected to more than double their ecommerce spend from 2012 to 2017.
"The growth of ecommerce in the developed world has generally been spearheaded by the affluent, armed with credit cards and high-speed Internet access. Parts of Latin America have bucked this trend with online shoppers in countries such as Brazil being more likely to belong to the middle or low-income bracket," commented Rónán Gallagher, Head of Product with Alpha Payments Cloud. "Much of this is due to the youthful populations of the emerging economies; almost half of Colombia's population is aged between 15 and 24. With card penetration remaining relatively low in the emerging economies, in particular within Latin America, reaching these consumers through alternative means of payment is key for eCommerce growth in these regions. "
Gustavo Ruiz, CEO at SafetyPay commented, "We're excited to partner with Alpha Payments Cloud to expand safe and secure transactions for online shoppers around the world, particularly in Latin America with both online banking and cash payment options."