Alpha Payments Cloud, connecting acquirers, merchants and product providers on one omniCommerce platform through the AlphaHub, has today announced the expansion of its LATAM-specific product offerings through a partnership with EBANX, a cross-border payments processor that helps you grow your business and sales by increasing your connectivity to the Brazilian and LATAM markets through a secure, cost effective and efficient payment processing model.
EBANX is the market leader in eCommerce payment solutions for international merchants in Brazil. Through EBANX, merchants can offer payment methods unique to and preferred by the Brazilian market, removing international barriers. As a result of this partnership with EBANX, the AlphaHub will offer banks and merchants an off-the-shelf solution for processing local online payments, including instalments, in Brazil and the LATAM region. This will give AlphaHub customers access to increased authorization and conversion rates through the ability to accept local payment options, including Boleto Bancario.
The growth of eCommerce in the developed world has generally been spearheaded by the affluent, armed with credit cards and high-speed Internet access. Latin America has diverged from this trend with online shoppers in countries such as Brazil being 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.
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. 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. "To win in Brazil, like on the soccer field, you need the right tactics and the right team. Having access to local payment methods in Brazil is eessential for market penetration and so we are very excited to partner with EBANX to open up Brazilian eCommerce to global merchants."
"Through Alpha Payments Cloud, merchants can now expand the payment methods they offer their Brazilian customers and rapidly increase revenue," said Nicole Wickswat, Director of International Sales at EBANX. "Partnering with Alpha Payments Cloud will assist EBANX with reaching a larger number of merchants looking to expand their business in Brazil."