The Latin American e-payments market is in full development. We are seeing high rates of growth in alternative payment methods and processing solutions, especially after countries such as Chile and Argentina deregulated credit card processing and authorisation.
Latin America joins the race to develop alternative payments methods
After analysing the market and its potential for growth, Worldline decided to create a payment card processing centre (HUB) for Latin America in Chile’s capital city, Santiago.
The centre’s main activity is processing transactions made using prepaid cards from Visa and Mastercard for one of our new clients, focused on remittances and issuance of prepaid cards.
In Chile and Brazil, less than 50% of the adult population use payment card and these are the two most advanced Latin American countries in this respect.
All alternative payments innovation today is aimed at this segment of the market.
The installation of the HUB, which consists of a platform for processing prepaid, debit and credit cards, combined with Worldline’s PCI and brand certifications as well as our global experience in payment methods, has opened up many opportunities for us in the region with Visa and Mastercard.
Our fully operational processing centre has all the international certifications required and given our strong relationships with the brands, we are now in full development of several projects to process card payments in Latin America.
Worldline also offers clients in the region a wide portfolio of solutions that complement card processing services, such as POS devices for the vending, financial and public transport sectors, among others, and its cashless solution for all types of markets.
Marcelo Sammartino
Head of financial services – Latam
Marcelo.Sammartino@worldline.com
The post E-payments: Latin America joins the race to develop alternative payments methods appeared first on Payments Cards & Mobile.
