Allpago, the leading payment service provider (PSP) in Latin America, will today announce at the Money 20/20 Conference in Las Vegas that it is expanding its payments coverage by moving into Argentina, the third largest e-commerce market in Latin America.
By establishing a presence in Buenos Aires and integrating local payment methods into its platform, allpago will make it easier for Argentina’s 34.5 million online shoppers to shop with global e-commerce companies.
The Argentinian government has made significant reforms this year enabling merchants to repatriate earnings in an economical feasible way through official channels. allpago is working with local partners to help clients establish legal entities and trade compliantly in Argentina.
Philipp Bock, founder & CEO of allpago, comments: “Argentina presents a huge, growing e-commerce opportunity, but its history of high tariffs and local payment limitations meant cross-border e-commerce has, until recently, been only for the privileged few. Argentina has now relaxed the restrictions that stopped people buying from abroad and allpago has made it possible to shop online using a much wider range of preferred local payment methods.”
“We know from experience that conversion and acceptance rates increase dramatically when merchants start offering local payments to customers. We are very excited about being able to offer this capability in Argentina over the same platform and API that allpago clients already use to process payments from elsewhere in Latin America.”
With existing operations in Brazil, Mexico and Colombia, allpago’s expansion into Argentina means merchants can now engage with more than 80 per cent of Latin America’s $78 billion B2C e-commerce market using its payment platform. allpago continues to build relationships with banks, acquirers and payment partners in the region to expand its coverage further.
allpago’s state-of-the-art technology provides all relevant payment methods alongside industry leading levels of security and integrated risk management systems to help merchants of all sizes and locations improve conversion rates, boost revenues and run compliant e-commerce operations in Latin America.