Ebanx, global fintech company that offers end-to-end local payment solutions from Latin America to global digital commerce merchants, announces the integration with local credit cards in Argentina.
Websites that sell cross-border to the country can rely on EBANX solutions to reach all consumers that like to pay for online purchases using domestic credit cards.
Besides accepting local cash payments and payments made with credit cards from international schemes in Argentina, EBANX merchants will also be able to accept payments with credit cards from two major Argentinian local schemes – Cabal and Naranja.
Merchants that offer this option to their Argentinian consumers can see an increase in cross-border sales to the country. Over 80% of online consumers declared they like to pay for their purchases using credit cards, according to the annual study conducted by the Argentinian Chamber of Electronic Commerce (CACE).
Ecommerce in Argentina: An ever-evolving market
Argentina's ecommerce market is among the three fastest-growing ones in the world, according to Focus Economics. Internet and mobile penetration are among the main reasons for that. Over 63% of the Argentinian population is connected to the internet, according to Statista's data. By 2021, more than half of Argentinians are expected to have a smartphone, as shown by eMarketer.
In the first half of this year, ecommerce in Argentina grew 66%, compared to the same period of 2017, as reported by the Argentinian Chamber of Electronic Commerce. This means that the first half of the year, alone, generated almost $ 97.9 billion pesos, which corresponds to over $ 2.7 billion US dollars.
Cyber Monday, a three-days event that happened in October, generated over $ 7.2 billion pesos, almost $ 200 million US dollars. CACE reported a growth of 39% compared to 2017's edition of the shopping event.