Bamboo Payment, a digital payment facilitator serving multiple South American countries, is announcing today plans to aggressively expand its coverage areas throughout Latin America (LATAM).
Currently operating in Chile, Argentina, Paraguay, and Uruguay, Bamboo Payment provides cross-border payment solutions that allow payment processors and aggregators, international merchants, eCommerce platforms, and other online marketplaces to enter previously inaccessible – or financially unfeasible – regional markets through a single platform.
Simply put, whereas previously companies needed to engage with a multitude of different vendors and payment methods depending on the regions being entered, Bamboo Payment conveniently integrates hundreds of local payment methods throughout LATAM into one streamlined channel.
“Traditionally, merchants wanting to process online payments in Latin America have had to pick several processors to cover all their business needs including local payin processing, recurring payments, B2B payouts, and B2C payouts,” says Juan Carlos Martinez, Director of Bamboo Payment. “With our industry knowledge we have been able to integrate previously separate payment networks in each country into one single solution, essentially turning Bamboo Payment into a one-stop-LATAM-shop. By leveraging our complete solution, merchants can process payins and payouts across Latin America in a seamless manner which lets them spend more time focused on their core business.”
Bamboo Payment offers a range of cross-border financial transaction solutions specifically developed to ensure local coverage of the Latin American population including currently unbanked or grossly underserved sectors not covered by existing digital payment infrastructures. Bamboo Payment’s offerings are divided into PAYIN and PAYOUT solutions:
• PAYIN solutions enable companies to accept payments throughout LATAM without needing to establish a local entity or have local presence. Bamboo Payment offers a wide range of plugins for existing eCommerce platforms, as well as hosted checkouts, subscription automations, and payment links for social media sales activity.
• PAYOUT solutions enable companies to pay funds throughout LATAM without the need to constantly conduct innumerable international wire transfers. These PAYOUT solutions let international merchants, service companies, global marketplaces, and others conduct efficient payouts in local currency to sales teams, content creators, partners and other entities.
Bamboo Payment’s solutions are PCI DSS 1 compliant and enable organizations to operate locally in LATAM without needing to register local subsidiaries or worry about the dizzying array of local payment methods, varying tax regulations, or specific market knowledge. Hence, Bamboo Payment is able to connect a huge base of previously inaccessible potential consumers with those entities looking to expand their respective presences in LATAM.
“Our focus is not only to seek out merchants as final clients, but also to strengthen our relationships with other payment processors, eCommerce platform providers, marketplaces, business development consultants, and industry influencers,” notes Carlos Steneri, Head of Expansion and Sales for Bamboo Payment. “Online processing for both payins and payouts is bound to continue to grow following the accelerated adoption of online payment solutions by Latin American consumers and companies. Our platform effectively connects foreign businesses, marketplaces, and eCommerce sites with local consumers across the region, supporting and building upon Latin America’s current digital transformation.”
Bamboo Payment’s executive team consists of LATAM financial industry experts who possess broad experience in international money remittance, online transaction processing, cash management, and bill payment networks. Collectively, the Bamboo Payment team holds more than 100 years of expertise within the LATAM fintech space.
In June, Bamboo Payment’s solutions will become available in Peru and Colombia and by August the company will have finalized its expansion into Mexico, Ecuador, Brazil, Costa Rica, El Salvador, Honduras, Guatemala, Nicaragua, Panama, Bolivia, and the Dominican Republic. Coverage will exist in 17 LATAM countries by the end of Q4 2021.