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Don't miss out on new payment trends across Latin America

Latin America is rapidly shifting away from cash payments and embracing digital methods that redefine how consumers and businesses interact. As this McKinsey report highlights the cash preference is dropping significantly in favor of debit, credit card, digital payments and alternative payment methods:

Amplified by a generational shift where digitally native consumers increasingly demand flexible, convenient, and secure digital transactions to access the world economy, this transformation is driven by technology and represents a massive opportunity for companies from across the region and beyond, to grow in Latin American countries outside their home borders.

However, due to the nuances and diversity of the LatAm Market, this unprecedented opportunity has traditionally only been captured by large corporations with the resources and the scale to invest in cross-border financial infrastructure as well as costly payment processors integrations to offer the proper payment methods across countries in Latin America.

SMEs are left relying on leading payment services that, while offering seamless payment infrastructure integration and an acceptable mix of payment methods available for domestic transactions, it falls short in enabling regional expansion due to limited access to essential local payment methods across Latin America and the Caribbean for Cross-border transactions.

And to address precisely this challenge, Rebill was created-bringing flexible, developer-friendly solutions built specifically for Latin America. We empower SaaS, Edtech, e-commerce, and other innovative digital businesses to scale effortlessly in LatAm, providing a payment experience that:

• Seamlessly plugs into your existing systems
• It is uniquely tailored to capture the advantages of hyper-localization.

We'll tell you a bit more about it here, but first, let's take a look at the biggest trends these companies can tap into:

Major Payment methods in Latin America by country

Navigating Payment Partner Selection: Challenges and Solutions

Expanding into Latin America's dynamic payments landscape presents an enticing opportunity but comes with distinct challenges. Businesses entering or scaling within the region quickly encounter a critical dilemma: choosing between the ease of integration offered by global payment platforms and the essential variety of local payment options necessary to succeed.

Selecting simplicity often means sacrificing crucial local payment methods-resultingin lost market share and untapped revenue potential. Conversely, prioritizing comprehensive payment options traditionally involves complex, costly integrations that can overwhelm businesses, slowing their momentum and innovation.

Scalable payment solutions to power growth

Adopting a scalable payment solution is vital for businesses seeking both simplicity and flexibility. Truly scalable solutions offer freedom from costly technical dependencies, enabling companies to expand quickly without heavy reliance on extensive IT resources or complicated integrations.

We all know the upside of such platforms:

• Support various payment types (Although some are limited for local corporations)
• Allow you to charge one-time as well as recurring payments.
• Can easily integrate with existing business software.

The emphasis is on flexibility, allowing businesses to: innovate rapidly, experimenting with pricing strategies, tailoring offerings to customer demands effortlessly.

Major global payment solutions like Stripe will check all these boxes, but with a trade off: You won't be able to offer local payment methods widely used in Latin America, substantially limiting your chances of success when you are looking to expand your business in LatAm, and this is precisely the focus of the next challenge:

Localized payments landscape in Latin America

At this point you already know that Latin America's market is extraordinarily diverse, payment gateway hyper-localization vital for market penetration. Each country in the region demonstrates unique consumer payment preferences-ranging from popular instant payment systems like Brazil's PIX, to local debit and credit schemes, digital wallets, and traditional payment methods such as cash-based vouchers used extensively in online shopping.

Achieving meaningful penetration demands solutions designed specifically for Latin America. Traditional individual integrations and cross-border payment platforms require significant resources and investment.

Therefore, adopting payment platforms that offer deep hyper-localization capabilities becomes critical for companies aiming to fully capture market share, ensuring they deliver a superior payment experience by seamlessly integrating a variety of locally preferred payment methods without sacrificing innovation or agility.

Backed by YC-the renowned startup incubator that launched Stripe-other prominent fintech investors, and trusted by leading businesses already thriving across Latin America, Rebill empowers your business to confidently scale across every market in the region:

Knowing the most used payment methods in Peru is essential to grow in the local market. From cards and transfers to digital wallets, offering the right options improves conversion and customer experience. Integrating them is not always simple. 

Rebill solves this with a unified platform that centralizes all payment methods, allows you to collect in local currency and settle in dollars, and complies with local regulations automatically.

In this article, you will discover how to choose the right payment methods for your business and why Rebill can make a difference with its payment infrastructure in Peru.

What are the best payment methods available in Peru?

Globally, payment methods have evolved rapidly in recent years, driven by technology, digitization and the massive use of mobile devices. From physical cards and transfers, to digital wallets, QR payments and cryptocurrencies, consumers expect fast, secure and convenient options, regardless of whether they shop in-store or on their cell phones.

In Latin America, and especially in Peru, this transformation has also taken hold. One of the key advances has been interoperability: today it is possible to make payments between platforms such as Yape and Plin, without belonging to the same bank, but with an associated account. This has boosted financial inclusion and access to more efficient means of payment collection.

On-site

Point of sale terminals (POS)

In 2024, card transactions grew 28 % in volume and 10.8 % in value, with an 81 % increase in online debit volume and 37 % in value.

The average ticket was S/. 73 (debit) and S/. 197 (credit), reflecting the growing adoption of low value payments.

Interchange fees decreased in debit and credit cards (interchange from 1.57% to 1.52%; reduced acquirer/facilitator discounts). This according to the Central Reserve Bank of Peru (BCRP) report.

In 2025, the use of POS will continue to increase. These devices allow card payments to be processed quickly and securely. In addition, 45% of retailers have incorporated QR codes as a complement to the traditional POS, providing contactless options.

Card payments (debit/credit)

• Debit cards: are the most widely used method for online purchases in Peru, representing about 40% of the total, according to Statista. They also have a strong presence in face-to-face payments.
• Credit cards: they represent more than 25% of online transactions, with Visa, Mastercard and American Express as the most used brands.

QR code payments

Driven by the growth of contactless solutions and financial inclusion policies, this method has established itself as a practical, fast and secure option. It is common to find QR stickers at fairs, cabs and small businesses.

Cash payments

Despite digital growth, cash still dominates. According to the Central Reserve Bank of Peru, approximately 90% of transactions for purchases and services are still made in cash, especially in rural areas or where digital access is limited.

Online

Online payment methods in Peru have evolved rapidly, incorporating more and more practical, secure and accessible options. From wire transfers to digital wallets. 

Bank transfers

According to the Central Reserve Bank of Peru (BCRP), in the first half of 2024 intrabank and CCE (traditional interbank) transfers increased significantly. However, these pure A2A transfers -i.e., between bank accounts without intermediation of digital wallets- represent less than 15% of total digital payments. These tend to be used mainly for B2B payments, services or large amounts.

On the other hand, transfers made through digital wallets (e-wallets), which are also movements between accounts but mediated by digital platforms such as Yape or Plin, account for 67.6% of low-value payments in Peru. This reflects a strong preference for solutions that are more agile, practical and adapted to mobile use for everyday payments.

Digital wallets (e-wallets)

Digital wallets account for approximately 69% of low-value payments in Peru:

• YapeYape: the most used wallet in the country. In 2025 it has 14 million active users, reaching 69% of the economically active population. It is common in all types of stores, from large chains to local fairs.
  
  
• Plin: widely used, with 4 million users. Its key advantage is its integration with banks such as BCP, Interbank and BBVA, which makes it an agile solution for transfers and payments between individuals.
  
  
• PagoEfectivo: an ideal payment method for those who do not have a card. It allows payment in cash using codes that can be paid at authorized agents or banks.
  
  
• Apple Pay, Google Pay and PayPal: on the rise. More and more merchants are adopting these options to offer a contactless, seamless and modern payment experience.

Cryptocurrencies

Although still emerging, cryptocurrency payments are gaining ground in Peru. By 2025, more merchants - from online stores to startups - will accept crypto payments, either directly or through platforms such as Lemon or Tulkit Pay.

The most widely used are Bitcoin (BTC) and stablecoins such as USDT and USDC, thanks to their integration with apps that allow payment with QR or crypto cards, even with benefits such as cashback.

Ethereum (ETH) and Solana (SOL) are also available, although with lower adoption. Despite this growth, 69% of low-value payments still occur in digital wallets such as Yape or Plin, according to BCRP.

Although still emerging, cryptocurrency payments are gaining ground in the Peruvian digital ecosystem. By 2025, more and more merchants - from online stores to small startups - have begun to accept cryptocurrencies as a form of payment, either directly or through integrator platforms.

Why payment methods matter for your business in Peru

Offering the right payment methods is not just a technical issue: it directly impacts your conversions. 

In Peru, more than 65% of low-value payments are already made with digital wallets such as Yape or Plin. If your business does not accept them, you could be leaving sales on the table.

In addition, interoperability between payment platforms allows for faster and less frictionless charging, regardless of whether the customer uses a banking app, a wallet or even cryptocurrencies.

Rebill simplifies this scenario by centralizing all the payment options you need in a single payment gateway in Peru, with automatic fulfillment, recurring payments and real-time reconciliation. 

Tips for selecting payment method types according to your customer and business

With so many different payment methods, the important thing is to choose the ones that really fit your type of business and your customer profile. Here are some ideas to help you decide:

•  Know your customers: Do they use more cash, cards or wallets like Yape or Plin? If you sell to young people or through social networks, digital wallets are key without using customers' personal data. If you are in areas with poor connectivity, cash is still necessary.
• Think about your business model: Operating in EdTech, HealthTech or SaaS is not the same as operating in traditional retail. These sectors require payment methods such as cards, transfers and digital wallets for subscriptions and international payments. Making the right choice improves the customer experience and facilitates growth.
• Evaluate the checkout experience: Make checkout easy and fast. A complicated process can lose you sales. Use solutions that reduce steps and adapt to the channel: physical, digital or both.
• Look at ease of use and fees: Choose international payment gateways that you can easily manage and that do not affect your profitability by high commissions or delays in money delivery.

Boost your business with Rebill

Rebill is the most complete and reliable payments infrastructure in Latin America. Designed for global companies scaling in the region, it offers a comprehensive and modern solution to facilitate frictionless transactions, especially in markets such as Peru.

With Rebill, your company can:

• Collect in local currency and settle in dollars from Peru, simplifying international financial management and authentication.
  
  
• Access the most popular payment methods in the country, improving customer experience and increasing conversion rate.
  
  
• Integrate the payment system in less than an hour, with an agile process and without technical complications.
  
  
• Offer flexible recurring payments, ideal for subscription or membership models.
  
  
• Automatic compliance, reducing risks and ensuring local regulatory compliance.

With so many options available, the most important thing is to choose the payment methods that your customers actually use. You don't need to offer them all, but the ones that allow you to sell more and get paid faster. This is where an all-in-one solution, such as Rebill as a service provider, can make all the difference.

We help you integrate the main payment methods - cards, transfers, digital wallets, QR, and even cryptocurrencies - from a single platform, without complicating your business. This way, your business adapts to the pace of your customers and grows with them.

Transform your customers' shopping experience by offering flexible and secure payment methods. Improve your payment management and expand your business in Peru, contact us to get started!

In an increasingly globalized business environment, international payments are no longer an exception but an everyday necessity. Companies operating in multiple countries, whether with distributed teams, global customers or foreign currency revenues, need to process cross-border payments with speed, security and predictability.

However, moving funds between countries means facing frictions: from the exchange rate to the compatibility between local payment methods, as well as the regulations of each market.

For companies with high transactional volume or subscription models, these challenges not only affect user experience, but also margins and business scalability.

This article explains what international payments are, how they work and what alternatives exist for companies operating or looking to expand in Latin America.

What are international payments?

international payments, also called cross-border payments, are transfers of money between parties in different countries. This exchange is key to international trade and ranges from the purchase of goods and services to the payment of remote jobs and investments.

These payments require operating through regulated financial institutions and handling currency conversion. In addition, they often involve intermediary banks, financial institutions in both countries and various payment platforms to ensure compliance with regulations for these international transfers. 

International vs. domestic payments: differences

In essence, international and domestic payments serve the same function: the transfer of funds from a sender to a receiver. However, there are important differences due to the complexity involved in operating between different countries. The main differences between the two types of payments are highlighted below:

• Regulation in multiple jurisdictions: domestic payments are governed by the regulations of a single country, while international payments must comply with the regulations of the jurisdictions of both the sending and receiving countries, which adds legal and administrative complexity.
• Involvement of intermediary banks: In domestic payments, generally only the issuing and receiving banks are involved. In international transactions, intermediary banks are often involved to facilitate the exchange between countries, which can increase the time and cost of the process.
• Foreign exchange and exchange rate: Domestic payments are made in a single currency, while international payments require currency conversion. This implies a risk associated with exchange rate fluctuations in the foreign exchange market, which may affect the final amount received or paid.
• Processing costs and times: Domestic payments are usually faster and less expensive due to fewer intermediaries and regulatory processes. On the other hand, international payments take longer and generate higher costs due to bank commissions, exchange fees and intermediary charges.
• Risks and compliance: International payments face additional risks such as sanctions, anti-money laundering controls and possible blockages due to foreign exchange regulations. This implies greater oversight and regulatory compliance than is usually required for domestic payments.

That's why having a specialized payment infrastructure such as Rebill can make all the difference. By operating in several Latin American countries and offering multi-currency conversion with transparent exchange rates, you can simplify the management of international payments, reduce operational costs and ensure regulatory compliance from a single platform.

What are the most common international payment methods?

In Latin America, choosing the right method for making and receiving international payments is a strategic decision, especially for companies with business models based on recurring payments, subscriptions or regional expansion. Depending on the volume of transactions, the frequency and the currency in which you want to collect, some solutions offer clear advantages over others.

Digital platforms (digital wallets and payment gateways)

Payment gateways such as Rebill, dLocal, EBANX, PayPal and PayU are widely used in Latin America for their ability to process payments in multiple currencies and accept local methods, facilitating e-commerce and recurring payments.

Credit cards and debit cards

They are one of the most frequent methods for international payments due to their acceptance in foreign trade and their speed. Cards allow immediate payments, although they usually generate additional costs for currency conversion and bank account fees.

Real Time Payment (RTP) systems

Although their international use is still limited, these systems offer almost instantaneous and lower-cost transfers. In addition, they are growing in regions with advanced infrastructure.

Traditional bank transfers

Mainly used in B2B transactions, these transfers are made through networks such as SWIFT. They are secure, but can be slow and costly due to the involvement of intermediary banks.

Cryptocurrencies

Although their use is still limited, cryptocurrencies allow fast transfers without intermediaries, with low costs. However, their volatility and variable regulations hinder their mass adoption in international transactions.

Letters of credit

Considered one of the safest methods for international payments, especially in trade of goods, as they guarantee payment to the exporter only if certain documentary conditions are met. They involve the intermediation of issuing and confirming banks, minimizing risks for both parties.

Payment orders

These are bank instructions to transfer funds from the payer to the payee, used in international transactions to secure the transfer of money. Although less common than letters of credit, they offer a formal and secure way for specific payments.

Additionally, for international payroll payments, platforms such as Deel, Ontop, Payoneer and Wise stand out for their speed and tax compliance, adapting to the management of remote employees.

These solutions overcome limitations of traditional methods such as Mercado Pago (no international support) and PayPal (high costs and limited support), responding better to the needs of the Latin American market.

How to choose an international payment provider if you operate in multiple countries

Choosing the right supplier is essential for your international operations to be safe, efficient and profitable. To make the best decision, it is key to follow a series of practices that minimize risks and optimize costs:

1. Compare payment methods: not all methods are equally convenient for every situation. For example, for urgent payments and small amounts, digital platforms or cards may be ideal. Whereas, for large amounts or B2B payments, bank transfers or letters of credit offer greater security.
2. Monitor the exchange rate: Fluctuations in the currency market can directly affect your margins. Having a platform like Rebill, which automatically adapts the exchange rate without requiring manual actions, helps you stabilize revenues and reduce exposure to unexpected variations.
3. Carefully read the associated fees and costs: it is important to be aware of all fees, including intermediary bank commissions and currency conversion charges, to avoid surprises and to correctly calculate the total cost of the payment.
4. Define who bears the additional fees: establishing by contract whether the payer or the recipient will cover the extra costs avoids misunderstandings and conflicts later on.
5. Use secure payment methods and trusted providers: Opt for payment processors that offer encryption, fraud detection and regulatory compliance. Security of information and funds should be an operational priority, especially when multiple jurisdictions are involved.

Make your international payments with Rebill

If you are looking for a reliable and efficient solution to manage your international payments, Rebill is the ideal option in Latin America. Its infrastructure is designed for companies that want to scale to the region, allowing them to centralize collections in dollars, receive payments in local currencies and access the most widely used local payment methods, without the need to create entities in each country.

It stands out from other alternatives due to its transparent rates, personalized support and integration in less than 1 hour.  

 Contact us and find out how to access the most convenient platform to process your international payments and boost your business. 

In Argentina, Mercado Pago is the most used payment gateway, but it is not always the best option for businesses with recurring payments or other needs. In this article, we tell you about 8 alternatives that offer flexibility and support so you can get paid without complications.

8 reliable alternatives to Mercado Pago for payment in Argentina

Mercado Pago is a digital payment platform created by Mercado Libre to manage online payments through multiple payment methods and tools such as payment links, QR code, Point readers and checkout.

However, it is not the only option available. In the Argentine fintech ecosystem there are other solutions that also allow secure, fast and adapted to different business models.

Here are 11 alternatives to Mercado Pago that are worth considering.

1. Rebill

Rebill is a payment infrastructure designed for companies that want to operate in Argentina or are looking to expand to other Latin American markets without the need to open local entities. 

Soon, it will also be available for local companies in Argentina. If you want to find out before anyone else, secure your priority access now.

It is especially designed for companies in sectors such as SaaS, EdTech, HealthTech and eCommerce. Its payment solution stands out for offering a customizable checkout , powered with intelligent rules that can increase conversion by up to 35%. 

In addition, it improves the payment approval rate by 20% compared to the international average and allows recovering up to 71% of rejected payments thanks to its optimized collection logic. 

Rebill also offers a transparent and fixed exchange rate at the time of the transaction, which facilitates the financial management of international collections.

It operates in the main Latin American markets and with the main payment methods in Argentina, including installment payments, digital wallets, bank transfers, among others.

It is ideal for automatic payments, monthly plans and subscription models.

2. Cloud Payment

This tool developed by Tiendanube facilitates the collection of online sales. Its fee structure is competitive, affordable and eliminates the cost per transaction for stores that already have an active Tiendanube plan.

The benefits of Pago Nube are the transaction bonus, integrated checkout , high security standards and preferential conditions to operate with multiple payment methods: transfers, debit card, credit card, simple installments or installments with and without interest.  

3. PayU

It is a platform that offers payment solutions to both small businesses and large corporations. It allows merchants to accept different payment methods such as debit and credit cards, bank transfers and cash payments through local networks.

4. PayPal

PayPal's presence in Argentina has been limited compared to other countries, but it remains an option for international transactions. 

PayPal allows the company's website or online store to accept linked debit and credit cards (Visa, MasterCard, American Express), linked bank accounts (in countries where the option is available) and PayPal.

5. Mobbex

It is an Argentine fintech specialized in payment solutions for electronic and physical commerce. In 2023, it enabled cryptocurrency payments through an alliance with Binance Pay.

Mobbex also works with credit cards, debit cards, bank transfers and cash payments.

6. Payway

It is a gateway of Prisma Medios de Pago, which absorbed Todo Pago in June 2022. It is for companies with high sales volume that seek to operate with their own establishment number in gateway mode. 

Payway offers online payment management, custom integrations and automated financial reconciliation. It accepts debit and credit cards, QR payments, bank transfer and automatic debit.

7. Ualá Bis

Ualá's payment gateway is designed to facilitate online payments. Originally intended for small businesses and entrepreneurs, it now also offers solutions for companies looking for fast integration, simplicity and a clear cost structure. 

8. Openpay

This service developed by BBVA allows sales to be charged with credit, debit and prepaid cards. It also receives transfers from virtual accounts (CVU) and bank accounts (CBU) and offers installment payments.

For online sales, the payment link is used by WhatsApp, email or social networks. If it is a physical location, you can charge by QR code and Openpay Mini card reader.

Why look for alternatives to Mercado Pago in Argentina?

Although Mercado Pago is the most widely used payment gateway in Argentina, many companies begin to look for other options when faced with certain needs, especially when they handle recurring payments or need to operate in several Latin American countries.

Among the main challenges that arise when scaling with this platform are:

• Limited scalability: selling in different countries requires opening local accounts, which complicates regional expansion and revenue reconciliation.
• Lack of agile and personalized support: automated support makes it difficult to solve specific or urgent problems.
• Costs and commissions: the highest in the market.
• Lack of advanced tools: especially in subscription models, where more robust automations are required.

What about subscriptions in Mercado Pago?

The management of subscriptions is usually one of the most critical points. In this type of operations, Mercado Pago usually presents limitations such as:

• Technical complexity: setting up subscriptions involves working with keys, endpoints and custom logic, which can be a barrier for SMBs or businesses without a technical team.
• Generic support: without personalized follow-up, scaling a membership model becomes risky and costly.

Keep in mind that expanding your alternatives with another payment processor can help you:

• Reduce the risk of payment rejections
• Improve customer experience
• Optimize your foreign exchange margins
• Diversify against potential crashes or lockouts of a single platform

Solutions like Rebill offer agile support, personalized onboarding and tools designed for businesses that need more than a standard solution. If your company is growing or has more complex needs, considering alternatives like this can make a big difference.

What to consider when choosing a collection alternative in Argentina?

If you are evaluating new payment infrastructures for your business in Argentina, it is important to consider more than just price. Here are some key variables that will help you make a better decision:

• Transaction fees and interest rates
• Time of accreditation (in real time or in business days)
• Ease of integration. Choose platforms that offer a robust API, SDKs or low-code solutions to implement quickly without overloading the technical team.
• Support for multiple payment methods such as credit cards, debit cards, wire transfers, virtual wallets and cash payments.
• Security and compliance: the gateway must have certifications such as PCI DSS, data encryption and anti-fraud tools to generate user confidence.
• Adaptation to the local market. If the platform understands the particularities of the Argentinean market and the dynamics of the countries in the region, you will have advantages for your business.

Keep in mind that the most popular option is not always the best for your business. Avoid relying on a single option to grow more safely and efficiently.

Evaluate alternatives with flexibility and specialized support. Try Rebill today and start optimizing your collections in Argentina.

If you sell products or services online in Argentina -or you are about to expand into the country-, you know that choosing the right payment gateway for your type of business can make the difference between closing a sale or losing a customer just before checkout. 

That's why in this article we show you which are the 8 best payment gateways in Argentina, comparing their fees, payment methods, technical support and other key features. Pay special attention if you operate in sectors such as EdTech, SaaS, HealthTech or eCommerce. Here is the list:

What is a payment gateway?

A payment gateway is a platform that allows businesses to collect their sales online. It acts as an intermediary between the buyer, the merchant and the financial institutions (banks, cards or virtual wallets). Thanks to this tool, it is possible to offer multiple payment options without the need for complex technical developments or direct banking integrations.

Advantages of a payment gateway

In addition to facilitating growth in billing, implementing a payment gateway provides multiple strategic benefits for companies, such as:

1. Safer transactions: These platforms comply with international standards such as PCI DSS, which helps mitigate fraud risks and ensures compliance with sensitive data protection regulations.
2. Better shopping experience: Offering a fast, intuitive and frictionless checkout process impacts customer conversion and loyalty.
3. Easier integration: This facilitates the automation of reconciliations, reporting and financial control.
4. Access to multiple payment methods in a single solution: This eliminates the need to negotiate and manage multiple vendors, simplifying the operation and reducing administrative costs.

Best payment gateways in Argentina: Which one to choose?

Learn about the best payment gateways in the Argentinean market, their differences and what you should consider before choosing the ideal one for your business.

1. Rebill

Rebill is a payment solution designed for large-scale companies, either operating in Argentina or looking to expand to other Latin American markets. Its focus is on companies with high transactional volume, especially in industries such as SaaS, EdTech, HealthTech and eCommerce. 

One of its main differentials is its customizable checkout system, powered by intelligent rules that can increase the conversion rate by up to 35%. 

In addition, Rebill improves the payment approval rate by 20% compared to the international market average and enables the recovery of up to 71% of rejected payments thanks to an optimized collection logic.

It is currently present in the 7 main Latin American markets and is positioned as a solid and scalable tool for businesses seeking to maximize their profitability.  

In terms of security, it complies with PCI DSS level 1 certification, guaranteeing the highest standard in financial data protection for this type of platform.

Let's take a look at its advantages.

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2. Mercado Pago

Mercado Pago is the digital payment platform developed by Mercado Libre. It allows you to manage online payments through multiple payment methods and tools such as: point readers, QR Code, Payment Link and Checkout.

3. Pago Nube

It is a tool developed by TiendaNube for those who use this e-commerce platform to collect payment for their online sales.

It offers a competitive and affordable fee structure, eliminating the cost per transaction for stores that already have an active Tiendanube plan. Among its main benefits are the transaction bonus, an integrated checkout, high security standards and preferential conditions to operate with multiple payment methods.

4. PayU

PayU is an online payment platform that operates in multiple countries in Latin America, including Argentina. It offers payment solutions for both small businesses and large corporations, allowing merchants to accept payments with different methods.

5. Paypal 

PayPal is one of the most recognized online payment platforms worldwide, allowing individuals and businesses to send and receive payments securely. Although its presence in Argentina has been limited compared to other countries, it is still an option for international transactions.

6. Mobbex

Mobbex is an Argentine company specialized in payment solutions for electronic and physical merchants. In 2023, it became the first payment processor in the country to enable cryptocurrency payments through an alliance with Binance Pay.

7. PayWay

Prisma Medios de Pago's PayWay is aimed primarily at companies with high sales volume that need a more advanced collections infrastructure. It offers a complete ecosystem for managing online payments, customized integrations and automated financial reconciliation.

8. Ualá Bis

Ualá Bis is Ualá's payment gateway, designed to facilitate online payments. Although initially designed for entrepreneurs and small businesses, today it also offers a solution for companies looking for simplicity, fast integration and a clear cost structure.

Key factors for choosing a payment gateway in Argentina

For companies with large transaction volumes, here are some key criteria to evaluate when choosing a payment gateway:

Compatibility with multiple payment methods

Make sure the platform accepts credit and debit cards, bank transfers, cash payments and virtual wallets. The more options the user has, the higher the conversion rate.

Agile integration with your existing systems

Opt for platforms that offer a robust API, SDKs and low-code options for fast implementation without overloading your technical team. Rebill, for example, allows you to easily connect to CRM, ERP or ecommerce platforms. In addition, it features webhooks that automatically notify your systems when a relevant event occurs, allowing you to automate processes and keep all your systems in sync.

Security and compliance

Verify that the gateway has certifications such as PCI DSS, data encryption and anti-fraud tools. This protects your operation and generates trust in users.

Optimization tools

Features such as customizable checkout, smart rules, failed payment recovery logic or automatic reconciliation can make a big difference in operational efficiency and conversion.

Regional market experience

Opt for a payment gateway that understands the particularities of the Argentinean market and the dynamics of neighboring countries, this can make a big difference especially if your company operates in several Latin American markets. 

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Conclusion

More than choosing a payment gateway, you should choose a growth partner for your business. Rebill helps you sell more and grow 10X faster. 

If your company in Argentina is part of industries such as EdTech, SaaS, HealthTech or eCommerce, and you are looking to scale your online sales without losing efficiency in your collections, contact us. 

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‍Disclaimer

This content is for informational purposes and was prepared based on public information available on the official sites of each payment gateway, at the time of writing (April 2025). Rates, conditions and functionalities may change without prior notice.

As the payments industry evolves, companies must rethink their cross-border transaction strategy to align with the growing demand for digital solutions and an efficient regional payments infrastructure.

What are cross-border payments?

Cross-border payments refer to transactions between parties based in different countries. In Latin American countries, these flows are primarily driven by regional retail transactions and remittances—a vital source of income for millions of families.

The region is shifting rapidly toward real-time infrastructure. Brazil leads this evolution with Pix, the most adopted real-time payment system across Latin America. Countries like Colombia and Peru are also gaining momentum, with some of the fastest-growing RTP adoption rates worldwide.

As digital payment systems scale, the cross-border payments market across the region is expected to grow steadily, driven by rising financial inclusion, expanding smartphone access, and a growing demand for faster, seamless ways to send money across borders.

Common cross-border payment methods in Latam

Across the region, cross-border payments are executed through a wide range of methods reflecting both traditional infrastructure and fintech-driven innovation. Credit cards and bank transfers still dominate, but a growing proportion is now executed through real-time payment systems such as Pix.

Payment players and consumers alike leverage these systems to send money, settle transactions and access regional payment solutions, although efficiency and accessibility vary. From traditional wire transfers to blockchain technology and open finance integrations, the cross-border payments landscape is increasingly diverse and shaped by regulatory dynamics and user preferences.

The following are some of the most common methods used to make cross-border payments in Latin America:

Traditional electronic transfers (wire transfers)

Processed through networks such as SWIFT, they are typically used for larger B2B transactions. They are secure, but slow and generally expensive.

Electronic Funds Transfers (EFT/EFT)

Digital bank transfers processed through local infrastructure. Faster than traditional transfers, but still limited by country-specific systems.

Credit card payments

Widely used for international purchases, they allow payment in local currencies but often involve conversion fees and risk of chargebacks.

Online payment platforms

Services such as PayPal and Wise allow real-time transfers with transparent fees. They are ideal for early-stage startups or one-off payments, although less flexible on a large scale.

Cryptocurrencies

An emerging method for efficient cross-border payments. Offers low cost and speed, but faces volatility and adoption hurdles. Blockchain technology is being explored as infrastructure for regional payment rails.

International money transfers

Still in use for small amounts where digital access is limited, although its popularity is declining due to long processing times.

Cross-border payments with local expertise (Rebill model)

Rebill allows users to pay in their local currency using cards, bank transfers, wallets or cash, without appearing as an international transaction.

Funds are collected locally, converted to USD and sent to the country of trade, enabling efficient cross-border payments without the need to open local entities.

How do cross-border payments work?

Traditional bank transfers involve multiple intermediaries, which increases delays and costs. If the recipient does not have an account at the same institution as the sender, central bank rules and correspondent banking networks are involved.

Platforms like Rebill simplify this. With a single integration, companies can manage payments in multiple markets, handling local regulations, currency conversion and funds transfers in a single streamlined workflow.

Opportunities and challenges in cross-border payments

Implementing the right infrastructure for cross-border payments is both a strategic advantage and a complex task, with challenges and opportunities to seize. In Latin America, this involves addressing fragmented systems, complying with changing central bank regulations and providing a frictionless user experience across markets. At the same time, it opens up significant opportunities to optimize payment processing, expand access to local methods, and build resilient and scalable solutions that support international trade and the payments ecosystem in general.

Opportunities:

• Unlocking new sources of revenue through international trade
• Access to local payment preferences for a better user experience
• Expansion without local entities thanks to integrated payment processing
• Leveraging digitization to improve efficiency and automation
• Gaining resilience by diversifying operations in different markets
  

Challenges:

• Fragmented payment infrastructure among countries
• Compliance with changing regulations and central bank mandates
• Multi-currency reconciliation management and transparency
• Balancing cost control with local user experience
• Ensuring security in the face of increased global payment fraud risks
  

The rise of fintech in Latam's payments ecosystem

Fintechs are entering the cross-border payments space to address long-standing inefficiencies, building frictionless payment flows that allow SMEs, SaaS companies, EdTech platforms and e-commerce businesses to scale in Latin America and the Caribbean without the cost overruns and long implementation times reserved for large corporations. However, in terms of localization, not all API-first cross-border payment solutions are the same.

Major fintech players shaping the future of payments in Latin America:

Rebill

A startup created specifically for the region, Rebill enables merchants to accept payments in local currencies and settle in USD, integrating multiple payment systems, open finance tools and local fulfillment on a single platform.

Wise

UK platform offering multicurrency accounts and transparent transfers, with open APIs for integrations.

PayPal

One of the most recognized global brands. Offers cross-border services including remittances via Xoom, although fees can be high.

Stripe

Developer-oriented payment platform with robust international tools, especially for SaaS and marketplaces.

Payoneer

Focused on freelancers and B2B services, allowing frictionless fund transfers and access to working capital.

The future of cross-border payments in Latin America

As digital infrastructure matures and central banks drive modernization, cross-border payments in Latin America will become faster, cheaper and more inclusive. Fintech innovation, the regulatory evolution towards open finance and the rise in smartphone usage are shaping a new era in the region.

With Rebill, you can seamlessly make cross-border payments while scaling your business in Latin America. Contact us to learn how our infrastructure supports your growth in the future of payments.

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In Latin America, payment processors have become an indispensable mechanism for business growth (physical and digital), thanks to digitization and the growing adoption of electronic payment methods.

These systems allow agile transactions adapted to the particularities of the regional market. Stay to find out which is the best payment processor option to automate your business collections.

What is a payment processor?

A payment processor is a system that manages electronic transactions between a buyer and a seller during a commercial operation. It is essential both in e-commerce and in physical stores, since it allows receiving payments with credit cards, debit cards, digital wallets and other electronic payment methods.

By functioning as the intermediary between the client's account and the merchant's account, it ensures the mobilization of funds in a secure and efficient manner. 

Payment processor vs. payment gateway: how do they differ?

When making electronic payments it is important to understand how they work and what is the difference between a payment processor and a payment gateway. Although they work together, each one fulfills a specific role.

Apayment gateway is responsible for collecting the customer's payment information and securely redirecting it to the payment processor or acquirer to complete the payment. Some popular payment gateways in Latam are: Rebill, Mercado Pago, Kushi, among others.

On the other hand, thepayment processor is responsible for processing transactions, connecting the acquiring bank, the issuing bank and the card network (such as Visa, Mastercard or American Express), i.e., the processor is the link that ensures the movement of money between financial institutions. 

Thus, the key difference between gateways and processors is that: the gateway captures, encrypts and transmits the payment data, while the processor handles the authorization, communication and transfer of funds.

How does a payment processor work?

Paying through a service with payment processors is a quick and easy payment experience. However, this mechanism is complex and requires the fulfillment of a series of steps: 

Start of the transaction at the point of sale

The process begins when the customer decides to make a purchase, either in a physical store (through a point-of-sale terminal) or online (through a payment gateway such as Rebill, Stripe, Checkout or PayPal). 

The customer enters their payment information, such as cardholder name, card number, security code, digital wallet, etc. 

Data authentication

The payment gateway then collects and verifies the data entered by the customer, making sure that the information is valid and that the card is not expired or blocked. The payment processor also verifies that the data matches the issuing bank's records.

Encryption and tokenization of information 

To protect transaction data, the information is encrypted and, in many cases, tokenized (i.e. replaced by a secure identifier). This step is essential to prevent fraud and ensure the security of sensitive data. Learn more about tokenization.

Authorization or rejection of payment information

The encrypted information is sent to the acquiring bank, which forwards it to the card network and then to the customer's bank, which validates the transaction, reviews the available funds and authorizes or rejects the payment. The response then travels back the same way to the point of sale.

Capture of funds

If the transaction is approved, the payment processor records the authorization and the merchant can deliver the product or service to the customer. The funds are reserved in the customer's account pending final settlement.

Settlement by payment system

Finally, the issuing bank transfers the funds to the acquiring bank. The acquiring bank then deposits the money into the merchant's account, completing the process. Depending on the payment system, settlement may be effective in real time or take a few business days.

All of this happens in a matter of seconds, ensuring a fast and reliable experience for both the customer and the merchant. This is how the processor proves to be of paramount importance for payment services in the digital and physical world.

How to choose the best payment processor?

Choosing the right payment processor for your business is a decision that needs to be made carefully, as it will impact your customers' experience. Among the factors to consider when choosing the best payment processor are: 

• Security measures: make sure that the processor complies with international security standards, such as PCI DSS (Payment Card Industry Data Security Standard), which guarantees encryption and protection of sensitive information. As well as fraud detection and prevention standards.
• Integration with APIs and SaaS platforms: verify that the processor offers flexible APIs and is compatible with the platforms you use for e-commerce or SaaS software, to facilitate smooth integration.
• Chargeback and chargeback management: evaluate what tools and support you offer to handle chargebacks or returns, as this can affect profitability and your relationship with your customers.
• Accepted payment methods: choose a processor that supports the payment methods preferred by your customers: credit and debit cards, digital wallets, wire transfers, and even pop-up options such as "buy now, pay later". The more options, the higher the satisfaction and conversion rate.
• Support for recurring payments: if your business handles subscriptions or recurring payments, it is crucial that the processor facilitates automatic handling of recurring payments to avoid interruptions.
• Smooth checkout process: The ease and speed with which a customer can complete their purchase has an impact on sales. Look for processors that offer an intuitive checkout process, without unnecessary steps or frequent errors.
• Speed of funds transfer: Consider the time it takes for the money to clear your bank account. Some processors offer almost instant transfers, while others may take several business days.
• Conversion rate optimization: Some payment processors include tools to reduce cart abandonment, such as one-click payments or mobile adaptation, which can significantly increase sales.
• Commissions: study the cost structure, transaction fees, monthly fees and any additional charges. Choose a model that fits your sales volume and growth projections.

Top 5 Payment Processors in Latam

Processors as a method of optimizing online payment methods have become key players in e-commerce in Latin America. Here are some of the most popular payment processors in the region: 

1. Rebill

Rebill is a payment infrastructure, ideal for companies that manage subscriptions or digital services. It is present in the main Latin American markets: 

• It functions as a payment processor and payment gateway.
• Automatic management of periodic collections.
• Support for multiple payment methods and currencies.
• Integration in less than an hour through its World Class API, SDK or no-code integration.

2. Mercado Pago 

It is one of the most recognized payment processors in Latin America, with a wide scope and versatility. Noted for: 

• Fast integration for online and physical stores.
• Variety of payment options, including bank transfers and cash payments.
• High security with tokenization and two-factor authentication.

3. Kushki 

Kushki is an emerging fintech that facilitates the implementation of electronic payments for digital businesses. It is characterized by: 

• Flexible and easy-to-integrate API.
• Support for local and international payment methods.
• High security and fraud prevention standards.

4. PayPal

It is present in more than 200 countries and is widely used in Latin America. It stands out for: 

• Accept payments in 26 different currencies, facilitating international sales.
• Function as a payment processor and gateway, with high security and fraud protection.
• Supports card payments, PayPal balance and digital wallets.

5. PayU

PayU has a strong presence in emerging markets and is trusted by regional businesses. It has: 

• Local processing in more than 50 countries.
• Multi-currency support and varied methods.
• Quick and easy integration.

Rebill is positioned as the ideal option to give dynamism to your digital payments. Its infrastructure is designed so that your business can grow smoothly, offering a seamless experience for both you and your customers. Contact us and discover an efficient payment service provider for your business.

Online sales in Colombia during the first quarter of 2025 reached a total value of $27.3 billion Colombian pesos, 16.4 % more than in the same period of the previous year, according to the Quarterly E-Commerce Behavior Report of the Colombian Chamber of E-Commerce (CCCE).

For total sales, 131.6 million transactions were recorded between January and March 2025, which is 15.6 % more than the first quarter of 2024. The average online consumer purchase value was $207,000 pesos (an increase of 1.3 %, compared to the last quarter of 2024. 

This growth reflects not only increased consumer adoption of the digital channel, but also increased competition among e-commerce companies to attract and retain these shoppers.

In this context, offering the most widely used payment methods in the country is no longer optional, but a key condition to compete. If your business does not allow users to pay the way they want -whether by card, transfer, cash on delivery or digital wallets- you are losing sales. Here we tell you more.

What are the main payment methods in Colombia?

In Colombia there are different types of payment methods that can be grouped into online and offline. Below we detail each one of them:

Online payment methods

Bank transfers

Most people have bank accounts, both savings and checking accounts, and at least 15% of the population have wire transfers as one of their preferred payment methods. They also occupy 55% of the payment options in Colombia.

Payments with digital wallets or e-wallets

In the era of mobile devices, 69% of the population opts for digital payment methods such as e-wallets. The Financial Superintendence of Colombia reported that real-time transfers through digital wallets, during the second half of 2024, grew 231%, compared to the same period of the previous year. 

Among the main payment options with digital wallets or e-wallets we have:

• NequiNequi: this Bancolombia application allows payments, transfers and withdrawals at no cost.
• Daviplata: Daviplata is a Davivienda platform that offers transfer services, ATM withdrawals and utility payments. 
• Movii: the user can make payments, recharges and transfers through this digital wallet.
• Dale! debit card: Dale! Visa allows you to pay with Apple Pay, with no handling fee.
• Mercado Pago: can be linked to your direct account in Mercado Libre. It offers the options of bank transfers, cards, cash and recharges.
• Ualá: with the Mastercard International debit card you can make purchases in Colombia and around the world. Deposits are handled through an app.
• Lulo Bank: you can make purchases electronically or in physical stores, both in Colombia and around the world, withdrawals at ATMs of the Servibanca Green Network and payments and purchases through secure online payments (PSE).
• Tuya Pay: with the digital account you can send, pay and manage money from your cell phone or make cash recharges.
• Apple Pay: has established partnerships with several financial institutions for its use.
• Google Pay: is in an initial phase, but seeks to satisfy the need of users who are looking for greater convenience and a secure way to pay.
• Contactless: Colombia recorded that 37% of the population with a bank account preferred contactless digital payments by the end of 2024. This means of payment has increased by 85% compared to last year, thanks to the use of technologies such as NFC and QR codes.
• Cryptocurrencies: Colombia is the fifth country in the world that has adopted cryptocurrencies and approximately 10% of the population made transactions by 2024. One of them is Tether (USDT), which is commonly used in P2P platforms and cross-border payments, in networks such as Tron or Ethereum (USDT-TRC20).

Secure Online Payment or PSE

It is a centralized and standardized system that allows users to make online payments by accessing their funds from the financial institution where they have them. With Secure Online Payments a debit is made to the bank account through this system. 

In the first quarter of 2025, it was the most used method with 63.1% share, given the levels of trust in this platform to directly connect bank accounts with e-commerce.

Offline payment methods

There are different offline payment methods that Colombians choose when it comes to their shopping experience. These are:

Point-of-sale (POS) terminals and card payments (debit/credit)

The Financial Superintendency of Colombia reported in December 2024 that dataphones or POS represented 7% of financial transactions in the country and were the most used channel for payments, with 42.88% of transactions.

Debit and credit cards

A study by Fiserv.com indicated that 64% of Colombians use debit cards as a means of payment and 37% opt for credit cards, including Visa, Mastercard and American Express.

Both credit and debit cards are second only to the option of secure online payments, especially for higher-value purchases where credit card financing is attractive to consumers.

It is worth noting that although credit cards are still relevant in digital payments in Colombia, their use has lost ground to more agile options such as PSE and digital wallets. These methods, which do not require card data or involve debt, are gaining preference for their simplicity, security and high adoption, especially among young users.

Cash payments

According to Fiserv.com, around 96% of Colombians make most of their transactions or payments in cash, considering that it is a safe way to avoid exposing their personal data.

In Colombia there are solutions such as Efecty and Baloto that offer the possibility of starting a purchase online and finishing it at physical points by paying in cash.

This type of payment represents between 8% and 12% of total digital transactions, and is key to including the unbanked in e-commerce, especially in regions where access to digital media is still limited.

What you should know before choosing the best payment method for your company in Colombia

Payment methods vary in terms of security, popularity and adaptation to consumer and merchant preferences. Geographic context and business characteristics also influence choice. 

When determining the best payment method for your company, you should consider the following:

• Customer context: consider the customer' s age, digital habits, geographic location and the methods they value most when paying.
• It offers various payment methods: it caters to different customer profiles by combining traditional methods, such as cash and cards, and digital methods, such as mobile payment, wallets, e-wallets, payment links and buy now, pay later (BNPL).
• Transaction costs and commissions: consider how fixed and variable commissions will be applied in each method and notify users. 
• Prioritize security and fraud prevention: apply methods such as multi-factor authentication or tokenization, encryption and other alternatives that comply with Payment Card Industry Data Security Standards or PCI-DSS. 
• Ensures a convenient shopping experience: the customer is looking for a fast, simple and hassle-free checkout process.
• Evaluate the compatibility of the payment method with your business model: depending on whether it is a physical store or e-commerce, you can opt for credit cards, debit cards, virtual cards, digital wallets, "buy now, pay later", direct debit, real-time payments, mobile payment, among others.
• Review settlement times: take into account the time it takes to receive funds so as not to negatively affect cash flow.
• Choose an international payment gateway that is easy to integrate: choose an infrastructure that offers clear sales reports, allows you to solve payment problems and helps you grow.

What is the best choice of payment method in Colombia?

Rebill is the best provider of digital payment services for global companies that want to expand into Colombia, without the need to open a local entity. In addition, it has a presence in the main Latin American markets.

With its payment and subscription infrastructure, you can collect money as a local and settle funds in USD and receive them in the country you are in.

Among its advantages it has:

• Integration in less than an hour: the connection through the robust API, SDK or its low-code integration allows you to accept multiple methods. In 5 lines of code you embed a complete checkout, with all payment methods.
• Flexible recurring payments: accepts different payment frequencies, either weekly, monthly or yearly. Allows upgrades, downgrades and subscription cancellations in real time. With the smart retries feature you can recover up to 71% of rejected payments.
• Automatic compliance: each transaction goes through a validation process to detect whether it complies with local data protection, security and authentication regulations.

Ready to take your business to Colombia?Contact us and transform your payment management today!

In recent years, traditional payment systems in Latin America have undergone a significant evolution, driven by the introduction of new technologies in the region. In Chile, this change has resulted in a greater diversity of payment methods. 

This transformation in payment options responds to the growth of e-commerce, becoming a key factor for the functioning of the Chilean economy. According to the Central Bank of Chile, the modernization of payment systems has been essential to adapt to the new needs of the digital market. 

Stick around to find out which payment formats will be the most popular in Chile in 2025 and how Rebill can help you integrate them securely into your business. 

What are the most commonly used payment methods in Chile?

In Chile, consumers have several payment options for their transactions, both in physical and online stores. Among the most common types of payment methods are:

Tarjetas de débito

Debit cards are the most widely used payment method in the country, especially at points of sale and for digital payments. Their use is supported by high banking penetration and integration with systems such as WebPay Plus and QR payments in apps such as MACH or Fpay. 

The main service providers include: BancoEstado, Banco de Chile, Banco Falabella, BCI and Santander. 

Credit cards

Credit cards allow access to financing and installment payments, which is highly valued by Chilean consumers. This means of payment is widely used for online purchases in areas such as retail, travel and services. 

Although their use has been partially displaced by digital wallets, they are still present in larger purchases and bank promotions.

Major issuers include CMR Falabella, Banco de Chile and Banco Santander, as well as internationally recognized brands such as Mastercard and American Express, which offer additional benefits such as points programs and insurance.

Bank transfers

Although they are not the most widely used method, bank transfers, especially Immediate Electronic Transfers (IET), have gained ground due to their security and speed. This system allows direct payments to be made from the customer's bank account without the need to share card details. 

This online payment method has established itself in e-commerce thanks to its integration with payment platforms such as WebPay Plus, Flow, Fintoc and Khipu, which facilitate this type of transaction and are preferred by those seeking to avoid intermediaries and reduce the risk of fraud.

Mobile payments and digital wallets

This form of payment is becoming increasingly popular due to the convenience it offers to the user and the adoption of contactless (NFC) payment technologies or payment links. 

Also known as wallets, they allow payments to be made in physical stores, apps and online platforms, turning mobile devices into true digital wallets.  

Prepaid cards

Prepaid cards and digital accounts, such as Mach, Dale!, Global66 and Tenpo, offer an affordable and attractive alternative for young people and those without a traditional bank account. These cards are pre-loaded with credit and can be used in both physical stores and e-commerce.

How do you know which is the ideal payment method for your business?

Selecting the right payment method is fundamental to improve your customers' experience and help your business grow. Some key points to take into account when making this decision are: 

• Know your customers and their spending habits: find out which payment methods are most used and preferred by your potential customers. Evaluate whether you need prepaid options for unbanked customers or those who operate in the informal market.
• Offer multiple payment options: choose a platform that offers different payment alternatives or use multiple payment services to improve the shopping experience for consumers and reduce the abandonment rate in the process. 
• Consider the user experience: select platforms that allow a fast, simple and intuitive payment process, with few steps and compatible with mobile devices, to minimize friction and improve customer satisfaction.
• Take into account the security of the system: choose payment gateways that have high security standards, such as authentication, protection of personal information, etc. To keep your customers' financial information safe. 
• Use mobile payment methods: options that allow payment by phone number or QR codes are increasingly valued for their speed and convenience, especially in physical stores. 
• Prioritize technical compatibilityMake sure that the payment gateway easily integrated with your technology infrastructure. For example, Rebill offers three integration alternatives adaptable to any business:‍
  
  • World Class API for developers looking for maximum customization.‍
    
  • SDK with pre-built components to speed up implementation with only 5 lines of code you can create a customized checkout tailored to your brand.‍
  • Via no-code, thanks to our native Make module that allows you to connect Rebill to any other application or software without code.

Moreover, its complete integration takes less than an hour.

Why choose Rebill to manage your payments in Chile?

Rebill is positioned as the best option for managing payments in Chile thanks to its specialized focus on digital businesses and companies looking to scale in Latin America. Its infrastructure combines advanced technology, flexibility and local support, which facilitates expansion and improves the experience for both merchants and customers.

Other advantages of using Rebill

• Transparent and competitive pricing: with clear and fair rates, Rebill includes subscription management at no additional cost, helping to reduce operational and development expenses.
• Local support and personalized attention: Rebill has a dedicated support team that accompanies companies at every stage, ensuring a smooth experience.
• Adaptation to regulations: complies with international certifications such as PCI DSS, guaranteeing data protection and regulatory compliance in the region.

Rebill is ideal for businesses looking for a robust, flexible and scalable solution that facilitates payment management in Chile and throughout Latin America.

Contact us and we will help you integrate the best payment methods to start charging as a local in Chile. Our team of experts will accompany you through every step of the process, from choosing the most suitable solution to implementation, ensuring that your business can grow without limits and safely. 

Here's how tokenization works and why it's key to securing your payments without complicating the payment experience.

What is tokenization?

Tokenization is a security process used in the online payment industry to protect sensitive customer data. It involves replacing sensitive data, such as credit card numbers or account numbers, with a series of unique characters called "tokens".

In some cases, this system is also used in the protection of data linked to technologies such as blockchain or the tokenization of digital assets from the art world, real estate and even non fungible tokens (NFT).

There are different types of tokens depending on their use and structure:

• Irreversible: they do not allow the original data to be recovered. They are ideal for analysis or environments where security takes precedence over the need to revert information.
• Reversible: they can be de-tokenized in specific contexts, such as the issuance of refunds or specific validations with payment processors where access to the original data is required.
• Preservation: they mimic the structure of the original data (such as the last 4 digits of a card), which facilitates integration with systems that depend on a specific format.

Differences between tokenization and encryption

Both tokenization and encryption protect sensitive information, but they work differently.

Encryption scrambles the data and requires a key to decrypt it, while tokenization replaces it directly with a value unrelated to the original. Since tokens have no intrinsic value and no direct relationship to the original data, they are useless to an attacker, even if they gain access. In many implementations, tokens are reversible, but only by authorized systems accessing the secure vault or correlation, according to the PCI DSS Information Guide.

 And because it cannot be reversed, it provides an even more robust layer of security.

How does tokenization work?

During a transaction, the customer's payment data is sent to a secure server, where it is replaced with a unique payment token. It is this token (and not the actual data) that is stored and used in future transactions. The actual data, on the other hand, is kept in a separate, secure environment.

An effective tokenization system is composed of several key elements:

• Token generator: it is in charge of creating unique identifiers to replace sensitive data.
• Correlation mechanism: securely associates each token with its original value, ensuring traceability without exposing the information.
• Token vault: is a database where the original data and its corresponding token are stored. There is also an alternative without a vault, where nothing sensitive is stored and everything is solved by algorithms.
• Key manager: manages and protects the cryptographic keys used throughout the process, ensuring their integrity.

Step-by-step tokenization process

1. The customer initiates a purchase in real time.
2. Your card data is sent to a secure platform.
3. The system generates a unique security token associated with this data.
4. The merchant stores only the token and not the actual data.
5. Future transactions use that token as the payment system and not the card.

How are tokens generated?

The tokens are generated using advanced cryptographic algorithms that ensure that each one is unique, unrepeatable and, above all, secure because it does not contain sensitive information. As they are unidirectional, it is impossible to revert the token to access the original data, which adds an extra layer of protection against fraud attempts or unauthorized access. 

And while some systems allow the token to be reversed in a controlled environment (such as in a secure vault), tokens do not expose the original data outside of that environment. 

Tokens can be stored on merchant systems, provided they comply with appropriate security standards such as PCI DSS. However, many platforms offer external tokenization services to reduce the compliance burden. The actual data, meanwhile, is stored in a separate environment, protected by firewalls, encryption and other cybersecurity measures.

What are the benefits of tokenization for payments?

Increased security in digital transactions

Tokenization replaces sensitive data with unique identifiers, so data leakage is not possible, because if someone accesses your information, they will not be able to do anything with it.

2. Regulatory compliance

In markets such as Brazil, where laws such as the LGPD require the protection of personal data, tokenization becomes key to operate without risk. If implemented through a certified provider, this system not only protects sensitive information, but also significantly reduces the scope of PCI DSS compliance by minimizing the storage of actual data in the merchant's systems. In addition, it makes it easier to adapt to global regulations such as GDPR if your business operates or scales in Europe.

3. Frictionless user experience

Tokenization enables more secure and seamless payments. When implemented correctly, it contributes to a seamless shopping experience, without unnecessary steps or interruptions. Although it does not directly reduce rejection rates, it does help prevent blockages due to suspected fraud, which avoids friction and improves user perception during the payment process.

4. Less operational burden

Unlike encryption, which involves constant encoding and decoding processes, tokenization only replaces and validates data. This makes it lighter on your systems and reduces points of failure.

5. Compatible with your current system

No need to replace your current infrastructure. Tokenization can be integrated with legacy systems, raising the level of data security and compliance without disrupting your operations.

Challenges in implementing tokenization

Technical complexity

Tokenization requires expertise in cybersecurity, server architecture and compliance. Not all companies have the internal resources to develop it on their own.

2. Initial costs

For small and medium-sized companies, the costs associated with secure servers and advanced technology may seem high. However, these expenses are balanced by the long-term benefits in terms of security and customer confidence.

Why is tokenization important in Latin America?

With the rapid growth of e-commerce in Latin America, securing digital transactions has become a priority. Tokenization helps reduce fraud, increases trust in local platforms and enables compliance with data protection laws in emerging markets such as Mexico, Colombia, Argentina and Brazil.

Payment tokenization is more than a technological trend: it is a strategic necessity for any company that accepts digital payments in Latin America. Implementing it today means guaranteeing customer security, complying with current regulations and positioning itself as a reliable brand in the digital ecosystem.

Protect your LATAM transactions with Rebill

If you are ready to guarantee the security of your payments, Rebill is your strategic ally. Our infrastructure allows us to accept payments in the main Latin American markets, integrating in less than an hour to your business.

With real human support and compatibility with the most used payment methods, we offer a complete experience for you to scale your operations without worries.

Contact us and ensure the growth of your online sales.

If you missed the last one about Nequi and its impact on Colombia's e-commerce market, check it out here.

Summary

- PSE is a rapidly expanding real-time payment method in Colombia, processing US$10 million in monthly payments (US$120 million annually) for individuals and more than 21,000 businesses. It rivals credit cards in popularity for online purchases, with only a slight 7% difference in favor of credit cards, demonstrating its substantial impact and adoption in the digital commerce landscape.

- PSE is a crucial driver in the expansion of e-commerce in Colombia, which is the third largest in Latin America. In 2023, with an e-commerce volume of US$42.3 billion and projected growth to US$87 billion by 2026, PSE handles 32% of all transactions, equivalent to US$13.53 billion. This platform supports the scalability of the digital economy and financial inclusion, offering secure and efficient payment solutions that serve a broad demographic and enhance consumer confidence, thus accelerating the adoption and growth of online shopping in Colombia.

- Companies have adopted PSE for its numerous benefits that streamline and secure commercial transactions throughout Colombia. Offering 24/7 availability, PSE enables payments outside of traditional banking hours, enhancing operational flexibility. Transactions are confirmed in real time, facilitating faster processing of orders and services. Known for its ease of use, PSE does not require separate registration; users simply select it as a payment method and authenticate through their bank's standard login, making it widely accessible as it is supported by almost all major banks in Colombia. The platform ensures robust security by leveraging the security protocols of participating banks and the ACH Colombia network, which protects user data and enhances the reliability of transactions. In addition, PSE transaction completion eliminates the risk of chargebacks, providing a significant advantage over credit card payments.

- The future of PSE is marked by the introduction of Transfiya, a new initiative launched by ACH Colombia in 2021, which signifies an evolution of the traditional PSE system towards person-to-person (P2P) payments. Beyond PSE's focus on secure online payments between consumers and businesses, Transfiya enables instant money transfers using just a cell phone number, significantly simplifying and improving the accessibility of everyday transactions. This change not only streamlines the transfer process, but also promotes greater financial inclusion by eliminating the need for detailed banking information. Transfiya has rapidly gained traction, now processing 8 million transactions per month, equivalent to US$1.2 million.

What is PSE?

PSE (which stands for Pagos Seguros en Línea) facilitates seamless transactions for Colombian consumers, allowing them to send and receive payments and make online purchases directly from their trusted banking environments. This system integrates extensive bank transfer systems with immediate payment confirmation, offering a fast and convenient solution for e-commerce. Developed by ACH Colombia, which manages automated transactions between financial institutions, PSE is backed by 20 national banks, making it a preferred choice among local consumers for its reliability and ease of use.

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How to make a PSE payment?

Upon selecting PSE as their payment method at checkout, shoppers are prompted to choose their bank from a list of ACH partner institutions. They are then redirected from the merchant's website to their own online banking environment. After logging in, customers review the pre-populated payment details and authorize the transaction. After payment processing, customers are returned to the merchant's website, which simultaneously receives a notification confirming the payment. This seamless process ensures a smooth and secure transaction from start to finish.

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How PSE is transforming e-commerce in Colombia

PSE is playing a crucial role in the expansion and transformation of the e-commerce landscape in Colombia, a country that is rapidly scaling Latin America's digital commerce. By 2023, Colombia is positioned as the third largest e-commerce market in Latin America, behind only Brazil and Mexico. With e-commerce volume reaching US$42.3 billion and a projected compound annual growth rate (CAGR) of 27% through 2026, the market is expected to soar to US$87 billion. This substantial growth underscores the increasing importance of robust and reliable online payment systems, with PSE at the forefront of this transformation.

PSE has become integral to Colombia's e-commerce sector, handling 32% of all online transactions, which equates to approximately US$13.53 billion. This significant share highlights PSE's effectiveness in providing a secure and efficient online payment gateway that aligns with the needs of consumers and businesses. By enabling direct bank transfers without the need for credit cards, PSE caters to a broader demographic, including those less inclined to use credit for online purchases. This approach not only simplifies the purchasing process, but also enhances trust and security among users, crucial factors driving the adoption of online shopping.

PSE's impact on Colombia's e-commerce market is further evidenced by its support for scaling the digital economy and fostering financial inclusion. As more consumers and businesses move to the digital realm, PSE's infrastructure offers a scalable solution that supports higher transaction volumes without compromising security. This capability is vital to sustaining growth in the e-commerce sector and encouraging more businesses to embrace digital transformations.

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Why did companies adopt PSE?

- 24/7 availability: The system operates 24 hours a day, allowing companies to make payments outside normal banking hours, thus improving operational flexibility.

- Real-time confirmation: Transactions through PSE are generally confirmed in real time, which is beneficial to both consumers and merchants. This immediate verification of transactions helps process orders and services more quickly.

- Ease of use: PSE is known for its convenience. Users do not need to register separately for PSE; they simply choose it as a payment option on the merchant's website and then authenticate using their bank's standard login credentials.

- Widespread accessibility: Because PSE is supported by almost all major banks in Colombia, it provides a universally accessible platform for businesses to conduct transactions within the country.

Security: The system emphasizes security to protect financial transactions, leveraging the security mechanisms of participating banks to ensure that users' financial information is not shared with third parties. In addition, information transfers are executed through the ACH Colombia transfer network, used by the most reputable banks in Colombia, which enhances the reliability and security of each transaction.

No risk of chargebacks: PSE transactions are final, meaning that once money is transferred, it cannot be automatically reversed. This feature is particularly advantageous for businesses, as it eliminates the risk of chargebacks, common in credit card transactions.

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What's next for PSE?

New initiative: Transfiya, launched by ACH Colombia in 2021, marks an evolution of the established PSE system by focusing on person-to-person (P2P) payments. Unlike PSE, which facilitates secure online payments between consumers and businesses, Transfiya allows people to transfer money instantly using just a cell phone number. This simplifies the process, improving accessibility and convenience for everyday transactions. While PSE requires navigating a bank's online platform for transactions, Transfiya streamlines transfers, promoting greater financial inclusion without the need for detailed banking information. The system currently processes 8 million transactions per month, equivalent to US$1.2 million.

Verdict

PSE is deeply embedded in Colombia's financial landscape, serving as a fundamental pillar of the country's digital payments infrastructure. Its widespread adoption is evidenced by its handling of 32% of all e-commerce transactions, highlighting its crucial role in a market where e-commerce is expected to grow substantially. Seamlessly integrating with almost all of Colombia's major banks and favored for its user-friendly features, such as 24/7 availability, real-time transaction confirmation and robust security measures, PSE has become a preferred choice for both businesses and consumers. The introduction of Transfiya, a peer-to-peer payment system, marks a progressive evolution of PSE, further enhancing financial inclusion and meeting the dynamic needs of modern consumers, thus consolidating its status as a crucial enabler of digital commerce in Colombia.

Introduction

- Nequi, a digital wallet-turned-neobank owned by Grupo Bancolombia, stands as the leading mobile payments platform in Colombia, with 18 million users, of which 13 million actively transact at least once a month. Serving a diverse and growing user base, Nequi engages 62% of informal workers and employees, followed by students with 29%. It also empowers entrepreneurs and local businesses to grow financially through its suite of savings, credit and payment tools. With around 2.6 million active entrepreneurs and merchants on its platform, Nequi continues to play a vital role in Colombia's evolving digital economy.

- Nequi's recent growth is reflected in deposits totaling approximately $758.8 million USD, loans totaling about $17.3 million USD and fee income of approximately $17 million USD. The Nequi card user base has grown to 1.5 million, and 869 million transactions have been made with an activity rate of 72%, all contributing to a user base of over 18 million.

- Nequi is transforming Colombia's fast-growing e-commerce sector, which is projected to reach US$87 billion by 2026. With current e-commerce transactions totaling US$42.3 billion, Nequi has a 3% market share, approximately US$1.3 billion, by facilitating two-thirds of all digital wallet payments through its secure, real-time, easy-to-use mobile app. This significant role is rooted in Nequi's dedication to financial inclusion, empowering the 86% of Colombian adults who shop online by providing tools such as credit, savings and business resources to help small businesses expand their digital presence. Nequi's comprehensive approach to digital banking strengthens Colombia's e-commerce ecosystem by offering a seamless, efficient and secure payment solution, especially among young, tech-savvy shoppers.

- Businesses have adopted Nequi for its cost-effective alternative to traditional banking, reducing transaction fees and making financial transactions more affordable, especially for small and medium-sized businesses. With robust encryption and security protocols, Nequi ensures enhanced transaction security, protecting both parties. The platform's easy-to-use mobile app provides 24/7 convenience, allowing businesses to send and receive payments anytime, anywhere. Its real-time transaction confirmation feature allows businesses to verify payments instantly, providing services or goods immediately. In addition, as part of Bancolombia, Nequi benefits from the trust associated with one of Colombia's largest banks, strengthening credibility and consumer confidence.

- Nequi's upcoming plans involve two new credit options, including low-dollar consumer loans and "Propulsor," a larger loan for free investment. Its partnership with PayPal enables seamless withdrawal of PayPal balances, providing users with a simplified solution for cross-border transactions. Nequi's marketplace empowers users to manage mobile top-ups, pay bills, make donations, obtain insurance and reload transportation cards, while supporting direct sales consultants. Internationally, Nequi already operates in Colombia and Panama, with possible future expansion to other Bancolombia markets such as Guatemala and El Salvador.

What is Nequi?

Nequi is a fully digital neobank and mobile payments platform launched by Bancolombia, Colombia's largest bank by market capitalization and total assets, in 2016. It provides a comprehensive suite of financial services directly from a smartphone app, allowing users to conduct transactions such as savings, money transfers and bill payments without the need for physical bank branches. Accessible 24/7, Nequi is designed for the tech-savvy user, offering features such as instant peer-to-peer payments and digital savings goals. Its intuitive design and user-friendly interface make it a popular choice among Colombia's younger population. As a crucial part of Colombia's digital banking landscape, Nequi drives financial inclusion and modernizes banking practices in a region where traditional banking penetration is limited (40% of Colombians do not have a bank account).

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To make a payment with Nequi at a point of sale, consumers can use either QR code scanning or push payments, depending on what the merchant supports. Open the Nequi app on your smartphone and go to the 'Pay' section. For QR payments, select 'Pay with QR', then scan the merchant's QR code at the point of sale, confirm the amount and approve the transaction. For push payments, choose 'Send Money', enter the merchant's phone number or select from your contacts, specify the payment amount and confirm to complete the transaction. Both methods are designed for fast and secure transactions, allowing you to complete your purchase effortlessly.

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Nequi is at the forefront of Colombia's fast-growing e-commerce sector, which ranks third in Latin America and is projected to reach US$87 billion by 2026. With e-commerce transaction volume currently at US$42.3 billion, Nequi plays a transformative role as two-thirds of all digital wallet payments are processed through its platform. This gives Nequi a remarkable 3% share of the entire Colombian e-commerce market, which translates to around US$1.3 billion. This significant market share is achieved through Nequi's ability to provide seamless, secure and real-time bank transfers through its easy-to-use mobile application.
Nequi's transformation of e-commerce is also rooted in its dedication to financial inclusion, offering a comprehensive digital wallet service that reaches 86% of Colombian adults who shop online. By facilitating digital payments for users who may not have access to traditional banking services, Nequi enables more Colombians to participate in the e-commerce boom. Its integration with e-commerce platforms ensures seamless transactions, especially among the younger, technologically advanced demographic that researches brands on social networks.
In addition, Nequi provides additional financial tools such as savings, credit and business management resources, empowering small businesses to expand their online presence and appeal to a wider audience. The platform's convenient, secure and efficient approach to payments significantly boosts Colombia's e-commerce ecosystem, driving growth and innovation in one of Latin America's most promising markets.

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Why did companies adopt Nequi?

- Cost Efficiency: Nequi offers a cost-effective alternative to traditional banking transactions, which often involve higher fees. By reducing transaction costs, Nequi makes financial transactions more affordable for businesses, especially small and medium-sized businesses that are sensitive to cost structures.

- Enhanced Security: Transactions made through Nequi are secured with encryption and security protocols, reducing the risk of fraud. Users must authenticate themselves in the application, ensuring that both parties are protected during transactions.

- Convenience and Accessibility: Nequi offers an extremely user-friendly interface and operates 24/7 through a mobile app, meaning payments can be made and received anytime, anywhere with just a few taps on a smartphone. This agility and simplicity make it an attractive payment option for businesses of all sizes.

- Immediate Transaction Confirmation: Nequi provides instant transaction confirmation, which is crucial for businesses that need to verify payments in real time to provide services or products immediately.

- Trust and Brand Recognition: As part of Bancolombia, Nequi benefits from the trust and recognition associated with one of Colombia's largest and most established banks. Companies using Nequi can leverage this trust, potentially increasing their own credibility and consumer confidence in their services.

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What is the next step for Nequi?

- Credit: Recently, the app introduced two new financial options to support the Colombian economy. The first is a low-dollar consumer loan offering between approximately $25 and $125 USD with a repayment term of up to 30 days, designed to provide quick financial relief. The second option, known as "Propulsor," is a more substantial consumer loan for free investment, ranging from approximately $125 to $2,500 USD with a repayment period of up to 36 months, intended to support long-term projects and dreams.

- Foreign Exchange and Remittances: With the partnership between Nequi and PayPal, Nequi users can now easily and seamlessly withdraw their PayPal balances in Colombia. This partnership facilitates convenient currency exchange and remittances, providing Nequi's diverse user base with a secure and accessible way to manage international transactions. The service is especially valuable for freelancers, international businesses and families who rely on remittances for financial support, offering a simplified and reliable solution for cross-border payments.

- Marketplace: Nequi offers users access to a wide range of financial and non-financial services. Users can make mobile recharges, pay bills, make donations, purchase SOAT insurance and recharge transportation cards, guaranteeing coverage for their daily needs. The marketplace also allows direct sales consultants to interact seamlessly with their clients and affiliated companies, facilitating efficient collection and payment processes. In addition, Nequi has integrated non-financial partners, such as health and mobility services, offering a comprehensive platform to support users' daily lives.

- International Expansion: Nequi's international expansion currently includes operations in both Colombia and Panama. The company anticipates potential growth in other regions where Bancolombia operates, such as Guatemala and El Salvador, although this expansion is still a projection at this stage.

Verdict

Nequi stands as a transformative force in Colombia's digital payments ecosystem. Its comprehensive, easy-to-use approach meets the diverse needs of its 18 million users, who increasingly rely on its intuitive mobile app for secure, real-time bank transfers, credit and savings tools. Playing a key role in processing two-thirds of all digital wallet payments, Nequi controls a substantial portion of Colombia's e-commerce sector, supporting financial inclusion for the 86% of adults who shop online. As it continues to innovate and expand its services in Latin America, Nequi remains a key driver of financial accessibility and modernization, ensuring its relevance in the region's evolving financial ecosystem.

As we explore the rapid evolution of Nequi and its profound impact on Colombia's payments landscape, I invite you to join the conversation about this widely adopted payment method. How do you see Nequi shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media - let's explore the opportunities and challenges presented by Nequi and spread the word about this payment system! Share this newsletter and join the dialogue today.

If you have questions or wish to continue the discussion, feel free to contact me directly at tony@rebill.com.

Payment in installments is a flexible way of financing purchases that more and more consumers in Latin America prefer.

What is payment in installments?

Payment in installments or payment in installments allows consumers to make purchases and pay for them in several monthly installments over a given period of time.

This payment method is especially useful for high-value purchases, as it allows you to spread the cost over time rather than making a single payment. 

How does payment by installments work?

The installment payment procedure consists of the following steps:

• Selection of payment option: the consumer chooses to pay in installments when making a purchase, either by credit card, debit card or platforms such as Mercado Pago.
• Assessment of the consumer 's ability to pay: the merchant or financial institution assesses the consumer's ability to pay based on his or her credit line, bank account, history or use of a personal loan.
• Approval and conditions: the customer is informed about how many installments he can choose and under what conditions:
  
  • Interest-free installments: the consumer pays only the value of the product, the total price being equivalent to the total amount of the purchase. These installments are usually part of promotional installment plans absorbed by the retailer.
  • Interest-bearing installments: in this case, an interest rate such as the annual nominal rate (APR) or the annual effective rate (AER) is applied, which increases the total financial cost. This rate may be regulated by the Central Bank of each country, especially in the context of inflation.
  • Associated costs: in addition to interest, other charges may be added for late payments or early cancellation of the total amount.
• Payment of the first installment: the first payment is made, and then the following payments are automatically debited as agreed.
• Example: if a customer wants to buy an online course costing $600, he can choose to pay for it in 6 monthly installments of $100 without interest. On the other hand, if he chooses a plan with 30% annual interest, the total amount to be paid could reach $660, divided into 6 installments of $110.

Difference between fixed and interest-free installments

When is it convenient to offer installment payments in your business?

Offering installment payments makes sense when the price of what you sell exceeds what many customers can afford to pay at once. It is especially useful if you market high-value products or services, such as technology, training or travel.

It is also a good strategy if your audience is looking for flexibility, if you sell online (where integrating fees is simple) or if you need to differentiate yourself from the competition. On key dates, such as commercial campaigns or launches, it can help you close more sales and increase the average ticket.

Benefits of payment in installments

For retailers

• Increased sales: offering quotas expands the range of viable products for the customer.
• Loyalty and conversion: offering flexible payment options can improve customer loyalty.
• Stable revenue stream: receiving regular payments makes it easier to plan business operations.

For consumers

• Access to high value products: allows access to a larger amount of money for large purchases without having to pay the full amount at once.
• Better management of personal finances: spreading the cost over time helps to better plan expenses without neglecting other commitments.
• Building credit history: meeting payments strengthens the profile with entities such as banks or financing platforms.

Key considerations when offering or choosing payment in installments

For retailers

• Appropriate payment solution: have a secure and functional integration (for example, with Mercado Pago or Rebill).
• Available installment plans: decide whether to offer 3, 6 or 12 installments with or without interest and know the impact on cash flow.
• Associated costs: transaction fees, absorbed interest or implementation costs.

For consumers

• APR and AER: understanding the difference between the nominal annual rate and the effective annual rate helps to measure the impact of interest.
• How many installments to choose: sometimes it is better to pay in fewer installments to reduce the total financial cost.
• Payment capacity and budget: evaluate whether the plan can be sustained in the medium or long term.

Offer installment payments in your business with Rebill

If you are looking for a payment gateway in Latin America to expand your business and want to offer your customers the flexibility of payment in installments, Rebill is your ideal partner.

Advantages of choosing Rebill for your installment payments

• Transparent rates, with no hidden costs or minimum fees.
• Personalized human assistance to solve any doubt.
• Facilitation of cross-border payments, ideal for startups and global companies.
• Various payment methods: credit and debit cards, e-wallets, wire transfers, cash and more.
• Expansion throughout the LATAM region without the need to establish a legal presence in each country.
• Fast and efficient integration with friendly APIs and SDKs

Ready to get paid in installments? Contact us today to start simplifying your installment payments and grow your business in Latin America.

Choosing the right payment gateway can make the difference between the success and growth of your online business in Colombia. With the boom of e-commerce in the country, having an efficient, safe and secure payment system adapted to the local market is not only an advantage, but a necessity.

If your company operates in sectors such as EdTech, SaaS, HealthTech or eCommerce, this guide will help you find the platform to optimize your transactions and improve your customers' payment experience.

These are the 11 best payment gateways in Colombia. Find out below their outstanding features, integration methods and fees so that you can make an informed decision: 

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What is a payment gateway?

A payment gateway is a service that allows businesses to process electronic payments securely and efficiently. It acts as an intermediary between the buyer, the merchant and the financial institutions, validating the payment information and authorizing the transaction in real time. Its function is to ensure that funds are transferred correctly, protecting both the customer and the seller against fraud and errors in the purchase process.

How does a payment gateway work?

Each payment gateway has its own process; however, most follow these steps each time a customer makes a transaction:

1. ‍Thebuyer enters his data - He enters his credit or debit card information or other alternative means of payment at checkout.‍
2. The payment gateway encrypts the information - Protects sensitive data and sends it to the payment processor.‍
3. The payment processor contacts the issuing bank - Requests authorization for the transaction.‍
4. The issuing bank approves or rejects the payment - Evaluates whether there are sufficient funds and whether the transaction is secure.‍
5. The gateway confirms the transaction - Informs the merchant and the customer if the payment was successful.
6. Funds are transferred to the merchant's account - Depending on the provider, settlement can take from minutes to several days.

Security and regulations for payment gateways in Colombia

In Colombia, payment gateways must comply with strict regulations to ensure the security of electronic transactions. The Superintendency of Industry and Commerce (SIC) establishes specific regulations on personal data protection (Law 1581 of 2012) and consumer rights in the digital environment.

Additionally, if the gateway offers specific financial services, it must be supervised by the Colombian Financial Superintendency, which regulates the financial system and ensures that entities comply with the necessary standards to protect users.

The main certification that a reliable payment gateway in Colombia must have includes:

• ‍PCIDSS (Payment Card Industry Data Security Standard) ensures that the company complies with the security standards for handling card data.

The best payment gateways in Colombia

The Colombian market offers several payment gateway options, each one with particular characteristics. Let's take a look at the best options available: 

1. Rebill

Rebill is a payment platform designed for global companies, both with operations in Colombia and international companies that want to expand in the country. It is ideal for companies with high transaction volume, especially in sectors such as SaaS, EdTech, HealthTech and eCommerce. 

Its main strength is the optimization of the digital payment flow with a customizable checkout and smart rules that increase the conversion rate by up to 35%.

In addition, it improves the payment approval rate by up to 20%, higher than the market average, and boosts smart recovery of failed payments by up to 71%. 

With presence in 7 Latin American countries, it offers a robust and scalable solution for companies seeking to maximize their revenues. Its payment solutions also include payment buttons and links. 

In terms of security, it is PCI DSS level 1 certified, the highest standard.

Learn more about its main features:

2. Mercado Pago

As part of the Mercado Libre ecosystem, Mercado Pago offers a comprehensive solution with wide adoption in Colombia. It is useful for merchants selling through marketplaces that require physical point-of-sale solutions in addition to online. It allows adding a payment button or sharing payment links on social networks and WhatsApp.

Explore its key functions:

3. Wompi

Developed by Bancolombia, Wompi stands out for its local focus and ease of implementation for small and medium-sized Colombian businesses. It offers a simplified onboarding process and competitive rates.

Consult the most relevant information about their service:

‍4. PayU

With a presence throughout Latin America, PayU is one of the most established payment gateways in Colombia. It offers solutions for different sizes of companies and stands out for its robustness for large transaction volumes.

Here are the essentials you need to know:

‍5. Place to Pay

Developed by Colombian company EGM Ingeniería, Place to Pay offers payment solutions with a strong focus on security and local regulatory compliance. It is especially valued by companies with strict security requirements such as the financial and healthcare sectors.

Get to know its advantages:

ePayco

100% Colombian payment gateway, ePayco stands out for its knowledge of the local market and its simplified checkout solution. It offers a shopping experience optimized for mobile devices. It is backed by Davivienda bank and PayPal. 

Check out its highlights:

7. PayPal

PayPal is one of the best known payment platforms worldwide, allowing secure transactions between buyers and sellers. Although PayPal does not operate directly in Colombia, its alliance with ePayco since 2024 allows businesses and entrepreneurs in the country to use it as a means of payment. Through this integration, it is possible to accept PayPal payments at checkout and withdraw the funds received to local bank accounts, thus facilitating online sales and expansion into international markets.

8. Stripe

Stripe is a payment platform that allows businesses to accept online payments. However, it does not operate directly in Colombia for local businesses. In order to use it, it is necessary to have a company registered in the United States (such as an LLC or a C-Corp), as Stripe does not support Colombian entities. 

Explore its key functions:

9. GETTRX

GETTRX is a payment platform focused on facilitating local and international transactions, with support for PSE payments and digital wallets. Its platform works for companies that need to process payments efficiently and quickly.

This is what it offers:

10.Openpay

Openpay is an online payment platform backed by the BBVA Group, which allows businesses to accept a variety of payment methods in a secure and efficient manner. With a presence in several Latin American countries, including Colombia, it offers solutions adapted to the needs of different types of businesses, such as dataphone, payment links, payment button, collections and customized collections with a box office:

Here are the essentials you need to know:

11. PayZen

It is an online payment platform that offers secure and efficient solutions for businesses in Colombia and other countries. It allows businesses to accept electronic payments in a simple way, adapting to the needs of the local market.

Check its characteristics:

‍Types ofpayment gateways and which one is right for your business

Depending on the model and size of your business, certain types of payment gateways may be better suited to your specific needs:

Payment gateway aggregators

These are those that group multiple merchants under the same account and offer quick implementation without the need for direct affiliation with banks.

They are usually recommended for emerging businesses or those with moderate transactional volume (up to USD 100,000 per month). The sectors that use them the most are: e-commerce due to the variety of payment methods and ease of implementation. In addition to Edtechs that offer individual courses and seek to be able to make single payments without complex recurrences.

• Examples: Mercado Pago, ePayco, Wompi, Rebill.

Direct payment gateways or payment processors

They are those that have direct connection with banks and card networks. They offer greater control over the payment process. They are recommended for companies with a transaction volume of more than 100 thousand dollars per month and that require maximum security.

The sectors that benefit most from this type of gateway are HealthTech, due to the privacy of medical data, and e-commerce platforms, where the security perceived by the customer has an impact on their purchasing decision.

• Examples: PayU, Place to Pay, Rebill.

Specialized gateways for recurring payments

These are those focused on automating periodic collections, managing subscriptions and optimizing retention. Recommended for businesses based on subscription or membership models, in sectors such as: Saas and its management of monthly or annual plans; EdTech with subscriptions for ongoing educational programs; and finally, digital content services.

• Examples: PayU Subscriptions, Rebill.

White-label payment gateway

These are those that allow you to fully customize the payment experience with your brand. They are recommended for established companies looking to reinforce their brand image and keep the user experience under control. It is ideal for Fintech and SaaS enterprise sectors to offer an integrated payment experience to corporate customers.

• Examples: Place to Pay (enterprise solution), PayU Advanced and Rebill .

What to consider when choosing the best payment gateway in Colombia

Choosing the right payment gateway for your business in Colombia requires carefully evaluating aspects such as costs, payment methods, ease of integration, approval rate and compatibility with your specific business model.

1. ‍Costs and commissions: The costs of implementing a payment gateway in Colombia usually include:
   • Transaction fee: Generally between 2.5% and 5.99%, depending on volume and gateway.
   • Fixed fee per transaction: In addition to the commission, it can be from $300 to $1,500 COP.
   • Implementation cost: Some gateways charge for initial integration.
   • Monthly fees: Fixed charges for maintenance or access to advanced functionalities.
   • Cost for refunds or chargebacks: Additional fees in case of refunds.

2. ‍Accepted methods of paymentDiversity of payment methods can increase your conversions by up to 25%, according to studies by the Colombian Chamber of E-Commerce. Make sure you have the most used by the Colombian market:
   • PSE (Secure Online Payments): Used by 29% of Colombian online shoppers, it allows direct payments from bank accounts.
   • Credit/debit cards: Represent approximately 38% of online transactions.
   • Cash at physical points: Baloto, Efecty and SuRed continue to be relevant, especially for reaching unbanked consumers (close to 20% of transactions).
   • Digital wallets: Nequi, Daviplata and other mobile solutions are rapidly gaining popularity.
   • Installment payments: Fundamental for higher-value purchases in the Colombian market.

3. ‍Compatibility with local eCommerce and ERP platforms. Verify that the gateway is properly integrated, this can significantly reduce development and maintenance costs, as well as minimize errors during payment processing. These are some of the points you should check:
   • eCommerce platforms either natively or through SDKs.  
   • Management systems: SAP, Oracle, Siigo and other ERPs used locally.
   • Educational platforms: If you operate in EdTech, compatibility with LMS such as Moodle, Canvas or proprietary platforms.
   • Medical software: For HealthTech, integration with electronic medical records and scheduling systems.

‍Rebill has two integration modes: one low code and the other through APIs or SDKs. In addition, it offers Webhooks, which allow you to receive notifications in any other application or system, for example, to create a payment order in an ERP, a customer in a CRM or issue an electronic invoice automatically.‍

4. ‍Knowledge of the Latin American market: Rebill operates in the 7 main Latin American countries, including Colombia, which allows it to know the market and offer advantages such as:
   • Understanding local payment habits: Adaptation to Colombian consumer preferences.
   • Regulatory compliance: Familiarity with SIC and Superintendencia Financiera regulations.
   • Support in Spanish: Customer service in the local language and at appropriate times.
   • Contextualized anti-fraud strategies: Systems tailored to region-specific fraud patterns.‍

5. ‍Payment approval rate: Solutions that better understand the local market typically offer higher payment approval rates and lower false positive fraud rejection rates. Rebill improves the payment approval rate by up to 20%.‍

Conclusion

If your company operates in sectors such as EdTech, SaaS, HealthTech or eCommerce and processes a high volume of transactions, Rebill is the payment gateway that can help you improve your approval rate, increase conversions and optimize the payment experience. 

Contact us and find out how to speed up your collections and reduce friction at checkout to sell up to 10 times faster in Colombia.

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Disclaimer:The information on pricing, commissions and integration of payment gateways mentioned in this article is based on sources available at the time of publication: April 2025. However, this data may change over time.

Choosing the right payment gateway is not just a technical decision: it is a business decision. For companies that sell services online, having a solution that automates collections and improves conversion rates can make the difference between growth and stagnation. 

In this guide we compare the best payment gateways in Chile and analyze their costs, integration and available payment methods to help you make an informed decision. Check them out below:

What is a payment gateway?

A payment gateway is a system that allows secure online payment processing. Its function is to connect the buyer with the merchant and validate the transaction between the two, either by bank card, transfer or any other digital payment method. They are widely used in e-commerce. 

Top 10 payment gateways in Chile

1. Rebill

Rebill is a payment platform designed for companies with large-scale operations, both in Chile and in other Latin American markets. It is especially designed for companies that handle a high volume of transactions, in sectors such as SaaS, EdTech, HealthTech and eCommerce.

Its proposal stands out for offering a customizable checkout, driven by intelligent rules that increase conversion by up to 35%. It also improves payment approval rates by up to 20%, above the international average, and has a collection logic that helps recover up to 71% of rejected payments.

With a presence in the main countries of the region, Rebill is positioned as a scalable, reliable solution for businesses seeking efficiency and sustained growth.

In terms of security, it complies with PCI DSS level 1 certification, which guarantees the highest standard in financial data protection.

Flow (flow.cl)

Flow is one of the most versatile Chilean payment gateways, ideal for e-commerce companies. It accepts multiple payment methods and allows simple integrations for online stores.

Webpay Plus

Webpay Plus is the payment gateway operated by Transbank in Chile, designed to allow physical and online merchants to receive payments with different methods. It is one of the most widely used solutions in the country.

4. Mercado Pago

MercadoPago, part of MercadoLibre, is a robust option for those who sell on social networks, marketplaces or their own sites. 

5. Easy Payment

Pago Fácil is a Chilean platform designed for SMEs and companies looking for a simple option to accept payments.

6. Payku

Payku is a Chilean fintech that offers a simple platform to implement digital collections.

7. PayU

Although its presence is strongest in Peru, Ecuador and other LATAM countries, PayU also operates in Chile. It is ideal for companies that require a multi-currency system.

8. PayPal

PayPal is still one of the best known options globally, although its presence in Chile is smaller. It can be useful for international payments or customers who already have an account on the platform.

9. Kushki

Kushki offers online payment solutions for businesses in Latin America, including Chile. It was founded in 2016 with the goal of connecting the region through digital payments. 

10. Khipu

Khipu is a Chilean payment gateway that allows direct bank transfers as an online payment method, without the need to enter data manually.

What to consider when choosing a payment gateway in Chile?

When integrating a payment processing platform, it's important to look beyond price. Here are some key variables you should consider depending on the size and needs of your business:

Available payment methods

Look for a platform that allows you to receive payments with various payment methods. The more payment options you offer, the smoother the purchase process will be for your customers and therefore, the more your business will grow.  

Ease of integration

Choose a payment gateway that makes implementation easy, either through out-of-the-box plugins, low-code integrations or a well-documented API. Some platforms, such as Rebill, also offer native connectors with systems such as ERP, CRM or ecommerce, which simplifies data synchronization. 

Local and regional support

If your company operates in several Latin American countries or has expansion plans, it is advisable to choose a platform with regional presence and support in Spanish to resolve questions quickly.

Extra functionalities

Explore whether they offer tools such as subscriptions, recurring payments, automatic reconciliation, webhook notifications, rejected payment recovery logic or checkout customization. These features can improve efficiency and increase conversions.

Improved conversion rate and payment approvals

A good payment gateway not only charges: it also optimizes. Choosing a solution that offers agile payment flows and adapts to user behavior can increase the conversion rate.

In the case of Rebill, this improvement can be as much as 35%. While the approval rate could increase by up to 20%, this translates into more completed sales.

Scalability

If your business is growing, make sure that the gateway you choose can accompany you to new markets or support a higher volume of transactions without problems.

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Conclusion

In a competitive market like the Chilean one, having a gateway that optimizes your collection is key.

After learning about these 10 alternatives, Rebill is positioned as a solution designed for companies with high volume operations seeking to grow in Chile and Latin America, without technical friction or loss in the payment experience.

If your operation requires a tool that evolves with your business, we are your best ally. 

Contact us and find out how we can help you scale your business sales.

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Disclaimer
This content is for informational purposes only and was prepared based on public information available on the official sites of each payment gateway in Chile, at the time of writing (April 2025). Rates, conditions and functionalities may change without prior notice, so it is recommended to consult directly with each provider to obtain updated information.

In Peru, there is a wide variety of payment solutions that adapt to different business models, from startups to large companies. In this article, we focus on payment gateways: how they work, what types exist and what are the 12 best options currently available in the country.

What is a payment gateway?

A payment gateway is a system that allows merchants to receive payments securely through electronic means. In other words, it is the "bridge" that connects your online store with the financial system so you can get paid for your products or services without complications.

How does a payment gateway work?

The operation of a payment gateway can be summarized in three steps:

1. ‍Data capture: The customer chooses a payment method and provides their details (such as credit or debit card details, for example).‍
2. Verification and authorization: The payment gateway transmits that information to the issuing bank or payment provider to validate that the funds are available.‍
3. Confirmation: If the transaction is authorized, the money is transferred to your merchant and the customer receives the payment confirmation.
   

All this process is protected by security protocols such as the recognized PCI DSS certification.

Types of payment gateways

Depending on the type of business and sales channel, there are different types of payment gateways you can consider:

Multichannel payment gateways

These are platforms that allow you to collect payment online, at physical points and through social networks, integrating all channels in a single solution. They are ideal for hybrid businesses (online and in-person). 

Digital payment gateways

They are specifically designed for e-commerce, mobile apps and marketplaces. They offer payment links, personalized checkout and tools to automate payments. 

International payment gateways

They are the most suitable if you sell to other countries, as they allow you to charge in different currencies and accept global payment methods such as Rebill.

What is the best payment gateway for your business in Peru?

Below is a selection of the top 12 payment gateways in Peru. For each one, we include key information on accepted payment methods, support, integration and fees.

1. Rebill

Rebill is a payment platform designed for companies with high transactional volume, especially those operating in sectors such as SaaS, EdTech, HealthTech and eCommerce. 

Not only does it allow payments to be processed in Peru, but it also facilitates regional expansion in Latin America, thanks to its presence in the 7 main markets in the region. This eliminates the need to integrate a separate payment gateway for each country, simplifying the operation and accelerating growth.

It offers a highly customizable checkout, driven by intelligent rules that increase payment conversion by up to 35%, adapting to the digital habits of the Peruvian market. 

It also improves the approval rate by 20% above the global average and, thanks to its advanced collection logic, allows you to recover up to 71% of rejected payments, reducing your business losses.

Rebill is PCI DSS level 1 certified, the highest standard in financial data security.

Learn more about its key points.

2. Mercado Pago

Mercado Pago is part of the Mercado Libre ecosystem and allows you to pay online with multiple payment methods.

3. OpenPay (BBVA)

OpenPay combines technology with the support of BBVA, offering online, physical and link payments. Its strengths are security and ease of integration.

4. PayU

Platform with global presence, works to sell both in Peru and other countries. It provides reconciliation tools and advanced analytics.

5. Flow Payments

Flow Pagos offers payment solutions for online sales with extensive local coverage in Peru.

6. Pay-me

Pay-me's proposal focuses on offering a multiplatform solution to facilitate payments in both web and mobile environments.

7. PayPal

It is one of the most popular payment gateways worldwide, although its fees can be higher than average.

8. D-local

D-local is a platform specialized in cross-border payments. It allows international companies to collect in Peru with local payment methods.

9. EBANX

Ebanx, designed for global companies that want to operate in Latin America, facilitates payment in soles and offers multi-currency reconciliation.

10. Nuvei

Nuvei is an uncommon gateway for local SMEs, but widely used by high-volume companies in sectors such as travel, video games or international e-commerce.

11. Niubiz

Formerly known as Visanet, it is one of the most traditional gateways in Peru. It provides both face-to-face and digital solutions with a strong presence in large retailers.

12. Culqi

Developed in Peru, Culqi is a modern gateway, focused on startups and digital businesses. It offers tools to customize the payment flow and generate links, QR payments and more.

Key points when choosing a payment gateway in Peru

Before integrating any payment gateway into your business, here are some of the most important points to consider:

1. ‍Compatible payment methods: Make sure the gateway accepts the payment methods your customers use most frequently: debit and credit cards, Yape, PagoEfectivo, transfers, etc. The more options you offer, the less friction there will be in the payment process.‍
2. Ease of integration: A simple and well-documented integration can speed up implementation times, reduce the need for ongoing technical support and reduce operational risks in the collection flow. Rebill has low-code integration or integration through APIs or SDKs. In addition, it offers Webhooks.‍
3. Security and compliance: Verify that the platform is certified with standards such as PCI DSS and that it has robust anti-fraud measures. The trust of your customers is key to closing sales.‍
4. Scalability: Think ahead: will this gateway allow you to grow and sell in other countries or channels (such as mobile apps or subscriptions)? Some, such as Rebill or D-local, are designed for businesses that evolve rapidly.‍
5. Approval rate: Platforms designed for the local context tend to process payments more efficiently, as they better understand consumption patterns and the particularities of the financial system. Rebill, for example, improves payment approval rates by up to 20% over the global average.

Conclusion

Choosing the right payment gateway in Peru is not just about processing collections, it's about building an efficient, locally optimized payment experience that scales with your business. 

With Rebill, EdTech, SaaS, HealthTech or eCommerce companies can automate their recurring collections, improve their conversion rates and focus on growing.

If your company operates in Peru and you are ready to optimize your payment strategy, contact us and find out how we can help you.

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Disclaimer

This information is referential and may change without prior notice. The rates, settlement times and integrations mentioned in this article correspond to those published by each provider on their official channels in April 2025. For exact and updated data, it is recommended to consult directly with each payment gateway.

Payment gateways have become indispensable tools for facilitating secure and reliable electronic transactions in Mexico. 

In this article you will learn which are the most used in the country, their rates, integration methods and technical support channels, so that you can choose the best option for your company.

‍Bestpayment gateways in Mexico: Which one to choose?

1. Rebill

Rebill is a payment platform designed for companies with high transactional volume, whether they operate in Mexico or want to expand to other Latin American markets. They specialize in industries such as SaaS, EdTech, HealthTech and eCommerce. 

It stands out for its customizable checkout system, driven by intelligent rules that can improve the conversion rate by up to 35%. This optimization is key to adapt to digital consumer habits in Mexico, where factors such as distrust in online payment and the use of mobile devices influence purchase completion.

 In addition, Rebill improves the payment approval rate by up to 20% above the global average and enables the recovery of up to 71% of rejected payments thanks to its optimized collection logic.

It is present in the 7 main Latin American markets, including Mexico as one of its strategic markets.

As a result, Rebill allows Mexican companies to expand regionally with a single platform, without the need to integrate different payment solutions for each country.

It is PCI DSS level 1 certified, the highest security standard in financial data protection for this type of platform.

2. Mercado Pago

Mercado Pago is one of the most popular payment gateways in Latin America, it offers a wide variety of payment methods and is backed by Mercado Libre. Here are its key aspects for Mexico. 

3. Paypal

PayPal, with its global reach, makes it easy to receive international payments. Although its fees are relatively high.

4. Stripe

Stripe is a global payment gateway that stands out for its technical integration and documentation for developers. It offers advanced tools to manage subscriptions and complex business models.

‍5. Conekta

Conekta is a Mexican gateway that offers online payment options designed for small, medium and large companies, with a strong focus on optimizing processes and protecting financial information.

6. Openpay

Openpay specializes in the Mexican market, integrates easily with e-commerce platforms and offers anti-fraud solutions.  

7. Kueski Pay

Kueski Pay is a fintech popular for its "buy now, pay later" model that allows consumers to pay in installments.

8. 2Checkout/Verifone

2Checkout (now called Verifone) is a global platform that offers its online payment services for companies in Mexico to sell products and services internationally. 

9. PayU

PayU Mexico is one of the leading payment gateways in the country, offering online payment solutions for businesses of all sizes. 

10. Mr. Payment

Sr. Pago is a Mexican electronic payments platform that offers solutions for both physical and online merchants. Since its acquisition by Konfío, it has positioned itself as one of the leading fintechs in Mexico, integrating payment processing, financing, invoicing and business management services. However, it only accepts cards.

11. Kushki

Kushki is a payment gateway that allows businesses to accept online payments throughout the Americas and the world. It offers a unique integration to connect different payment methods in each country, facilitating international business expansion.

12. CoDi

CoDi (Cobro Digital) is a local payment gateway developed by Banco de México that allows digital payments and collections through electronic transfers via QR codes or NFC technology, using the infrastructure of the Interbank Electronic Payments System (SPEI).

What is a payment gateway?

A payment gateway is a service that processes credit card, debit card, bank transfer and other payment methods for online and physical businesses. It functions as an intermediary that connects merchants, buyers, banks and payment processors to facilitate electronic transactions in a secure manner.

The process is simple. When you make an online purchase, the payment gateway:

• Encrypts sensitive buyer information
• Authorizes the transaction with the issuing bank
• Confirms approval or rejection of payment
• Facilitates the transfer of funds to the merchant

All of this happens in a matter of seconds, improving the customer's shopping experience.

Advantages of using a payment gateway

Implementing a payment gateway brings key benefits to any e-commerce or digital business:

• Transaction security: gateways apply security standards such as encryption and protocols such as PCI DSS to protect sensitive data.
• Higher conversion: by offering multiple payment methods, churn is reduced, as the payment process becomes fast, intuitive and reliable.
• Automation and efficiency: Manual collection and reconciliation processes are eliminated.
• Scalability: Allows to operate in different countries, offer different payment methods and currencies (ideal for businesses with international focus or subscriptions).
• Analysis: Allows obtaining real-time information for transaction analysis, projections, etc.

Criteria for choosing a payment gateway in Mexico

There are many factors to evaluate before integrating a gateway into your business; however, these are the 5 points we consider key before making the decision:

1. ‍ C ompatibility with your business model: Not all gateways offer support for models such as subscriptions, recurring payments, etc. Make sure the solution fits your needs.
2. Fees and costs: Review transaction fees, monthly commissions, withdrawal charges and possible hidden costs. Some gateways offer more competitive plans for businesses with high transaction volume.
3. Available payment methods: Look for a gateway that accepts cards, transfers (SPEI), cash payments (OXXO, 7-Eleven). The more payment methods, the more sales.‍
4. Ease of integration: Check if it offers RESTful APIs, SDKs or plugins for platforms such as Shopify, WooCommerce or Magento. It is a plus if they have Webhooks that report any relevant events, in addition to allowing process automation and system synchronization. 
5. Local market expertise: Choose a payment gateway that understands consumer preferences and the most widely used payment methods in the country. This translates into smoother integrations, higher approval rates and better support.

Conclusion

Mexico has a wide range of payment gateways, each with particular strengths in payment methods, ease of integration, fees and technical support. 

However, if your company operates with a high volume of transactions, needs recurring payments or is looking to expand regionally, Rebill is the most robust option, as it not only processes payments, but also drives growth. 

With smart checkout technology, 71% recovery of declined payments and a focus on digital industries, we are a powerful alternative for businesses looking to optimize their revenue and offer a seamless and secure payment experience. 

If your company is EdTech, SaaS, HealthTech or eCommerce, contact us to optimize your collections in Mexico or in one of the most important markets in Latin America. 

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Disclaimer

This content is for informational purposes only and is based on public information available on the official sites of the payment gateways at the time of preparation (April 2025). Please note that rates, features and conditions are subject to change without notice.

Brazil is the largest e-commerce market in Latin America, with a variety of payment methods that companies should be aware of to maximize their success in the country.

Below, we provide a detailed guide to the main payment systems in Brazil, with their features and how you can integrate them into your digital business to improve conversion and customer experience.

What are the 9 payment methods used in Brazil?

1. PIX

PIX is one of the most revolutionary payment options in Brazil, introduced by the Central Bank in 2020. It enables instant payments 24/7 and in real time, which has driven its massive adoption by both consumers and businesses. It is fast and easy to use, making it a preferred option for transactions of all types.

For companies, integrating PIX is not only a competitive advantage, but practically mandatory if they want to offer a widely used payment method.

2. Cash payments

Although digital payments have grown rapidly, cash remains an important part of daily life for millions of Brazilians, especially in physical stores in rural areas or with limited infrastructure. For businesses that want to reach all consumer segments, accepting cash remains an indispensable option.

The boleto bancário is a traditional cash payment method that continues to be used by a significant portion of Brazilian consumers, especially those who do not have access to credit cards.

This means of payment allows users to make purchases online and pay in cash or by bank transfer at physical points. Although its use has declined with the emergence of PIX, it is still relevant for certain transactions in Brazil.

Credit cards

Credit cards continue to be the dominant form of payment in Brazil, accounting for a large share of online transactions, because of their buy now, pay later ease. Brazilian consumers value payment in installments, which allow them to finance their purchases over several months at no additional cost.

Among the most popular credit cards are Visa, Mastercard, American Express, Elo and Hipercard. An important aspect to consider is that consumers often use more than one card to make a purchase, splitting the payment among several to optimize their credit limits.

4. Debit cards

Debit cards are used primarily for immediate purchases and account for a significant portion of lower value transactions.

Although they do not offer the financing option of credit cards, they are still a safe and popular option for consumers who prefer not to accumulate debt.

5. Digital wallets

The use of digital wallets or e-wallets has grown considerably in Brazil. These payment platforms allow users to store money and make payments online without the need to constantly enter payment information. Among the most widely used are:

• Mercado Pago
• PicPay
• Nubank
• PagBank

Digital wallets offer a secure and convenient payment process, which explains their growing popularity.

6. QR code payments

QR Code payments have gained momentum thanks to the BR Code, which unifies this technology in Brazil. Its ease of use in the checkout process and the possibility of integrating with PIX have boosted its adoption, making the QR Code a strategic ally for ecommerce companies seeking to offer a fast and contactless payment experience.

7. Payments with cryptocurrencies

The use of cryptocurrencies as a form of payment is gaining relevance in Brazil. More and more commercial establishments are accepting virtual currencies as a form of payment and Brazilian consumers are expressing interest in using these digital assets in their daily purchases, with USDT (Tether) and USDC (USD Coin) being the most widely used stablecoins.

8. Contactless payments (NFC)

Contactless payments, or contactless payments, through NFC (Near Field Communication) technology, are gaining popularity in Brazil. This technology allows users to make payments securely and quickly by bringing their cards or mobile devices close to the payment terminals.

9. Payment Links

Payment links allow to automate the collection of payment from customers through social networks, without requiring technical integration, which makes most businesses implement them as a means of payment. 

If your company wants to operate in Brazil, accepting payments in Brazilian Reais (BRL) is key. Showing prices in your local currency improves the user's shopping experience and increases conversion by avoiding doubts about the exchange rate.

How can Rebill help you integrate the best payment methods in Brazil?

Our payment services support credit cards, debit cards, PIX, digital wallets and boletos bancários, allowing your business to offer different payment methods and, above all, the most popular among Brazilian consumers. 

Other advantages of using Rebill in Brazil

• Integration in less than an hour with the most chosen local payment methods. This, without the need for a local entity and with API options, SDK or Low-code alternatives to embed a 100% customizable checkout with all online and alternative payment methods.
• Compliance with local regulations and maximum security in all transactions.
• Robust infrastructure to process recurring payments, with support for upgrades, downgrades and cancellations in real time. In addition, it allows you to set the collection frequency that best aligns with your business model and, most importantly, includes intelligent retries that can recover up to 71% of rejected payments.

Brazil is a great opportunity, but also a challenge. That's why you should have a payment service provider that knows the market and can help you integrate your business into the local payment ecosystem smoothly. 

Rebill offers you more than a payment gateway, it offers you a complete infrastructure to optimize your collections as a local in Brazil. Contact us and accelerate your market entry.

Mexico is one of the most important markets for e-commerce in Latin America, with a consumer base that values digital transactions as much as traditional options.

What are the most commonly used payment methods in Mexico?

Debit cards

Debit cards are one of the most popular forms of payment for e-commerce in Mexico. They are popular because of their ease of use and because many consumers prefer not to use credit for everyday purchases.

Credit cards 

Credit cards are also popular in the Mexican market, representing one of the most widely used means of payment in Latin America, according to a PCMI study. The most popular types of credit cards include Visa, Mastercard and American Express.

3. Cash payments

Cash remains a very important method in Mexico, especially for those who do not have access to banking services or prefer to avoid using cards.

Companies such as OXXO allow consumers to make purchases online and pay in cash at any of its thousands of physical stores. This method is secure and avoids chargebacks, making it an attractive option for both consumers and businesses.

Other chains such as 7-Eleven facilitate payment services without the need for a bank account, which promotes financial inclusion. In addition, cash payments are preferred by users who are wary of sharing banking information online.

4. Digital wallets

Digital payments have gained popularity in recent years, driven by the convenience of making transactions without the need to enter card data for each operation. Some of the most widely used options available in Mexico are:

• Mercado Pago
• Paypal
• BBVA Wallet
• Spin by OXXO

These wallets allow consumers to store funds and pay securely and quickly online. Mercado Pago, in particular, has positioned itself as a dominant option for online shopping due to its integration with Mercado Libre and other local merchants.

5. Bank Transfers (SPEI)

SPEI transfers are a reliable and secure means of payment in Mexico, especially for higher value transactions. 

This method allows direct transfer of funds between banks instantly and at no cost. Although it is not the fastest or most convenient method for all purchases, it is still a solid option for many businesses.

6. Months without interest (MSI)

A key feature of the Mexican market is the option to pay in interest-free months. In this case, the retailer absorbs the financial cost by paying a higher sales rate in 1 payment, but the end customer does not pay any interest for financing his purchase.

Credit cards often offer this option in partnership with retailers, and it is a crucial factor in driving sales, especially on higher-value products.

7. Buy now, pay later

Buy now, pay later" services are gaining ground in Mexico. Payment platforms such as Kueski Pay and Aplazo allow consumers to split their purchases into more manageable payments, without the need for credit cards. This method is popular among younger users, who are looking for financial flexibility.

8. Payments with cryptocurrencies

Online payments with cryptocurrencies are beginning to gain traction in Mexico, especially among young, technologically advanced users and in specific areas such as technology, travel and gaming. Although they still represent a small percentage of total transactions, their growth is undeniable.

Cryptocurrencies such as Bitcoin and Ethereum are increasingly accepted in online stores, digital services and, in some cases, even in physical stores that already accept this type of payments. In addition to USDT (Tether) and USDC (USD Coin) which are the most used stablecoins for online payments, preferred for their stability, unlike BTC or ETH.

9. Contactless payments (NFC)

Contactless payments have changed the shopping experience in Mexico, especially since the pandemic. This technology uses NFC (Near Field Communication) to enable payments in an agile and secure way, simply by bringing a card, mobile device or smartwatch close to the terminal reader.

Today, most modern bank cards include this functionality. In addition, applications such as Apple Pay and Google Pay are increasingly being accepted at Mexican points of sale, thus expanding the reach of this payment system.

10. QR code payments

Electronic payments with QR codes have established themselves as a practical and accessible option, especially for small businesses, street vendors and users who prefer to minimize the use of cash or physical contact.

With this method, the customer simply scans a QR code from his cell phone and makes the payment through an app such as CoDi, Mercado Pago or even bank apps.

11. Prepaid cards

Prepaid cards are a practical tool for controlling spending and improving the user's shopping experience. They allow the purchase of products or services until the available balance is exhausted and their implementation is simple and secure, adapting to different business models. The main issuers are Mercado Pago, Nu, Stori and Albo, all under the Mastercard signature.

How can Rebill help you integrate the best payment methods in Mexico?

Rebill makes it easy to integrate all these payment methods into your business in less than an hour, thanks to its payment infrastructure specifically designed for Latin America. From accepting cash payments to implementing recurring payments with credit or debit cards, we offer solutions tailored to the particularities of Mexico.

Other advantages of using Rebill

• Fast and frictionless connection: Integrate multiple payment methods in less than an hour using a robust API, SDK or low-code implementation. With just a few lines of code you can incorporate a complete, functional and adaptable checkout for any device.
• Adaptable and automated subscriptions: Ideal for businesses with recurring payments: set up weekly, monthly or as often as you prefer. Manage plan changes or cancellations instantly and activate trial periods from day one. In addition, intelligent retries allow you to recover up to 71% of rejected payments.
• Transactions aligned with local regulations: Each payment is automatically validated to comply with each country's security, authentication and data protection regulations, reducing operational risk and ensuring customer confidence. All this without the need to generate a local entity on your company's side.

Mexico is a dynamic market, where a variety of payment methods is key to attracting and retaining customers. To compete and grow, companies must offer flexible and secure options that adapt to the preferences of today's consumers.

With Rebill, you can scale your operation in Mexico without hassle. Contact us and find out how we can help you get paid the smart way.

Payment methods are the different ways in which a buyer can pay for a product or service. They include traditional options such as cash and credit or debit cards, as well as digital alternatives. Choosing the right payment methods can improve the customer experience and increase conversion in physical and digital businesses.

In this article, we show you which are the most popular in Argentina and how Rebill, with its payment gateway, can help you integrate them efficiently into your online store.

What are the payment methods used in Argentina?

1. Digital wallets or e-wallets

The use of online payment methods such as virtual wallets has grown exponentially in Argentina. According to a study by the firm Kantar, almost 60% of Argentines between 25 and 34 years of age use this means of payment, and that figure is expected to grow in the coming years. Its advantages include fast and contactless payments from a mobile device, which has driven its mass adoption.

The most popular include:

• Mercado Pago: Mercado Libre's payment platform dominates the market, both in digital payments and in physical stores through QR codes.
• MODO: driven by the main banks in the country, it allows centralizing all debit and credit cards in a single application.
• Ualá: offers a prepaid card and a digital wallet, ideal for those who want to control their spending without using a traditional credit card.

Credit cards

Credit cards continue to be one of the most dominant forms of payment in Argentina, especially in e-commerce. They account for approximately 35% of online transactions.

The main credit cards in the country are:

• Visa
• Mastercard
• American Express

Argentine consumers tend to prefer credit cards because of the possibility of paying in interest-free installments, a very common practice in the country.

Debit cards

Debit cards represent approximately 18% of ecommerce transactions in Argentina.

These cards are widely used for everyday purchases and are favored by those seeking to avoid accumulating debt. In addition, financial institutions often offer special promotions, such as discounts and refunds, which has increased their use.

4. Prepaid cards

This type of payment is booming, especially among young people and those seeking greater control over their spending. Platforms such as Ualá, Naranja X, Burbank and Reba have popularized this option.

Prepaid cards offer additional security as they are not linked to a bank account, making them ideal for online purchases.

5. Bank Transfers

Bank transfers are a reliable payment system for transactions in Argentina, either through CBU (Clave Bancaria Uniforme) or Alias. Although they are not the most popular method in ecommerce, they are still key for B2B transactions and professional services seeking efficiency and control.

Thanks to their ease of use, they allow companies and customers to manage mobile payments in a secure and agile way from home banking or banking apps, reducing friction in operations.

6. Payments with cryptocurrencies

Cryptocurrencies such as Bitcoin, Ethereum and USDT have gained popularity in Argentina, especially as a way to safeguard value in the face of inflation. More and more merchants are accepting this method, either through integrations with crypto payment processors or through direct transfers between digital wallets.

7. Payments with NFC technology

Near Field Communication (NFC) payments are transforming the shopping experience in physical stores and transportation. With digital wallets such as Google Pay and Apple Pay, and contactless cards, transactions become fast and contactless, improving user convenience and reducing waiting times.

For businesses that prioritize customer experience, this method represents an opportunity to optimize their points of sale, improve checkout and stay ahead of payment trends.

8. Cash payments

Although cash payments have declined with digitization, it is still a relevant payment option, especially in rural areas and for unbanked consumers.

Payment services such as Pago Fácil and Rapipago allow customers to make purchases online and pay for them in cash at physical locations. This method remains popular among those who prefer not to use digital means.

9. Installment payments

In Argentina, interest-free installment payments are another key payment method for boosting sales of high-value products such as household appliances and technology. This method, widely adopted by consumers, eliminates barriers by offering financing at no additional cost.

Customers often finance a purchase by spreading the payment across multiple credit cards, so payment platforms must adapt to this preference and allow a transaction to be split across multiple cards, driving conversion and customer satisfaction.

The advantages of offering installment payments include:

• Higher average ticket: consumers tend to spend more when they have the option of financing their purchases in installments.
• Improved conversion: by lowering payment barriers, quotas incentivize users to complete their purchases.

How does Rebill facilitate the integration of payment methods in Argentina?

Rebill is one of the most complete payment service providers in Latin America. Not only does it connect you with the most widely used payment methods in Argentina, but it also facilitates your expansion by not requiring a local entity, among many other advantages.

Why does this matter? Because if you process with international acquiring, up to 50% of payments can be rejected. With Rebill, you collect as local and settle in USD wherever you are.

Soon we will also be available for Argentine companies operating within the country. If you want to join us first, leave your email here.

Other advantages of using Rebill

• Integration in less than an hour: you accept multiple methods with a single connection through its robust API, SDK or its low-code integration. With 5 lines of code, you embed a complete checkout with all payment methods.
• Flexible recurring payments: also designed for subscription models. Allows upgrades, downgrades and cancellations in real time. Accept weekly, monthly, yearly or as often as you need. You can also offer free trial periods from day one. Its smart retries feature allows you to recover up to 71% of rejected payments.
• Automatic compliance: we validate that each transaction complies with local regulations: security, authentication, data protection.

If you want to expand into Argentina, it's not enough to just charge online. You have to offer payment methods that users know and trust. Rebill solves that from day one. Contact us to activate your account.

The Argentine market has become a key opportunity for companies looking to expand in Latin America. With a dynamic economy, a rapidly growing digital landscape and a population of more than 45 million people, this market is full of possibilities. In this overview, we explore the most important aspects of succeeding in Argentina, from trends in digital payments to the rise of e-commerce and cross-border remittance solutions.

A market in constant growth and full of opportunities

In recent years, Argentina has experienced remarkable economic growth, with an 83% increase in the value of its market, reaching $17.1 billion USD. This growth has been driven by the adoption of technology, the expansion of telecommunications and the rise of emerging sectors such as renewable energies.

While the market is dominated by key players that control 32% of market share, this presents both challenges and opportunities. Companies that are able to differentiate themselves through innovation and a strong value proposition can find a competitive space in this environment.

Accelerated growth sectors:

• Telecommunications: Local companies have led innovation with advanced technological infrastructure, enabling the expansion of digital services nationwide.
• Renewable energy: With government incentives, companies specializing in solar and wind energy are helping to drive sustainable economic growth in Argentina.

The impact of the digital payments landscape in Argentina

The payments landscape in Argentina has changed radically in the last decade, with a notable increase in the use of digital payments. This has been driven by smartphone penetration and the mass adoption of mobile wallets such as Mercado Pago and Ualá. By 2024, more than 70% of consumers in Argentina regularly use digital payment options.

For companies, it is vital to offer a variety of variety of payment methods that reflect the preferences of local consumers:

• Installment paymentsInstallment payments: Due to inflation, Argentines prefer to split their purchases in installments. Offering this option improves the customer experience and fosters loyalty.
• Cash paymentsAlthough digital payments are on the rise, cash is still a dominant option, especially for small transactions. Making sure to integrate both methods can increase the conversion rate.

E-commerce in Argentina: how to adapt to a multi-device marketplace

The e-commerce in Argentina continues to grow as more consumers shop online. The key for companies is to adapt to multiple devices and offer an optimized experience for smartphones, tablets and desktop computers.

• Smartphones: They represent the primary means of accessing online commerce. Companies must optimize their sites for mobile devices and ensure that the payment process is fast and secure.
• Tablets: Although less used than smartphones, they provide a superior visual experience, making them an ideal choice for fashion or decorative products.
• Desktop computers: Remain important for more complex transactions, such as the purchase of high-value products or those requiring more research.

Diversity in payment methods: key to success in the Argentine market

By 2024, diversity of payment methods remains a critical factor remains a critical factor for success in the Argentine market. The use of credit and debit cards has grown considerably, but alternatives such as prepaid cards and virtual wallets have also emerged.

Key factors:

• Security: Chip and PIN technology has enhanced the security of card payments, which generates more confidence among consumers.
• Financial inclusion: Prepaid cards and digital wallets are democratizing access to financial services, particularly among those without access to traditional bank accounts.

Simplifying cross-border remittances: a necessity for global businesses

With such a globalized market, the ability to manage cross-border remittances efficiently is essential. Offering fast and cost-effective solutions for international transfers allows international consumers to make frictionless payments, expanding the global reach of companies in the Argentine market.

Payment gateway optimization: how to improve customer experience

A efficient and reliable payment gateway can make the difference between a successful purchase and an abandoned cart. Companies that optimize their online payment solutions offer a better customer experience, reduce friction in the checkout process and increase conversion rates.

The importance of adapting to technological trends to succeed in Argentina

Companies operating in Argentina must be prepared to adapt quickly to technological advances and changing consumer preferences. From adopting digital payments to implementing omnichannel strategies, embracing change is critical to staying competitive.

Conclusion: key strategies to dominate the Argentine market in 2024

To succeed in Argentina, companies must be proactive in understanding and adapting to local trends, offering diverse payment options and optimizing their e-commerce operations for multiple devices. At the same time, they must be prepared to evolve with the market and respond to the unique challenges presented by this ever-changing country.

Maximize your success in Argentina with Rebill

Rebill offers you a complete solution to accept all local payment methods, including cards, digital wallets and bank transfers, in more than 10 countries in Latin America. With transparent fees and personalized support, Rebill helps you manage cross-border payments efficiently and allows you to expand your business in key markets such as Argentina. Contact us today to simplify your operations and take advantage of trade opportunities in LATAM.

Latin America is a region with enormous potential for growth through digital payments, but it's also one of the most fragmented and complex environments in which to operate. Each country has its own regulations, currencies, consumer habits, and local payment methods.

In this scenario, many companies end up integrating a separate international payment gateway for each country, which entails high costs, technical complexity, and operational friction.

For example, a company selling in Argentina, Chile, Mexico, Colombia, and Peru must adapt to systems like Mercado Pago in Argentina, PIX in Brazil, PSE, and Yape, in addition to complying with tax regulations and managing local bank accounts. This not only slows scalability but also complicates financial reconciliation and impacts cash flow.

The good news is that today there are solutions that allow you to operate customer payments throughout the region through a single integration, without the need to create local entities and with access to native payment methods in each market.

In this guide, we provide an overview of international payment gateways in Latin America, with links to our detailed country-by-country guides, and present an alternative for centralizing your collection operations throughout the region.

One such solution is Rebill , an online payment infrastructure designed for Latin America that enables global businesses to process online payments in major markets from a single account with unified reconciliation. It also features a robust platform for recurring payments and subscriptions.

Best international payment gateways in Latin America

Each country in Latin America has its own digital payment ecosystem, with platforms that dominate the market and adapt to consumer preferences, tax regulations, and payment methods such as SPEI, PIX, or PSE.

In this section we leave you our guides by country so that you know which are the best payment gateways in Latam. Click on the links of the market of your interest.

Argentina: Adapting to a Challenging Economic Environment

Argentina requires solutions that adequately manage the country's economic particularities. Among the most used options we have:

• Rebill, already active for international companies operating in Argentina and soon available for Argentinean companies. Be part of the exclusive group that will test before anyone else the most advanced infrastructure to collect online and manage subscriptions intelligently.
• Mercado Pago  
• Mobbex
• Ualá Bis
• NPS

➡️ Payment gateways in Argentina : 8 payment options for a complex market.

Chile: Consolidated market with specialized options

Chile has a mature and rapidly digitalizing ecosystem, including:

• Webpay Plus (Transbank)
• Khipu
• Easy Payment (BCI Group)
• Rebill

➡️ Payment gateways in Chile : Alternatives for different business models.

Mexico: Expanding digital payments ecosystem

Mexico has a mature market that combines international and local solutions. Some of the country's payment gateways include:

• Rebill: It's the only platform designed for Latin America, solving several of the problems faced by other payment solutions. It allows you to centralize payments with a single integration, accessing local payment methods without the need to create local entities. Its automatic retry system and unified financial reconciliation improve conversion and reduce operational burden. 
• Openpay : Offers full coverage of local methods including SPEI and convenience stores.
• Conekta : Specialized in conversion optimization for Mexican commerce
• Stripe : International option with good adaptation to the local market
• Mercado Pago : Strong in the SME segment and with wide adoption
• PayU: Customized solutions for different types of businesses, analysis and reporting tools.
• Paypal

➡️ There's more; learn more in our article: the best payment gateways in Mexico . 

Colombia: Innovation in digital payments

Colombia presents a dynamic ecosystem with options such as:

• Wompi: Bancolombia Group's solution with widespread adoption
• PayU: Regional platform with a strong local presence
• ePayco: Focused on facilitating payments for small businesses
• PlaceToPay: Specialized in regulated sectors
• Mercado Pago: Widespread adoption thanks to its integration with Mercado Libre.
• Rebill: Designed for global companies, both with operations in Colombia and international companies looking to expand in the country. Ideal for sectors such as SaaS, EdTech, HealthTech, and eCommerce.

➡️ Check out the best payment gateway options in Colombia . 

Peru: A rapidly digitalizing market

Peru shows accelerated growth in the adoption of digital payments with:

• Rebill
• Niubiz (formerly VisaNet) 
• Culqi 
• Izipay

➡️ Payment gateways in Peru : Learn about rates and specifics. 

Brazil: The Latin American e-commerce giant

Brazil represents the largest market in the region with specialized solutions such as:

• Mercado Pago
• PagSeguro
• Pay.me
• Darling
• Rebill

What should a good payment gateway in Latin America offer?

Before choosing a payment platform for your Latin American operations, analyze what different payment gateway providers offer and make sure they meet these key requirements to optimize the payment experience and increase your transactions in the region. 

1. Wide coverage of local payment methods

The best payment gateways in the region should offer multiple payment methods: 

• International credit cards and debit cards 
• Local bank transfers 
• Cash payments 
• Local digital wallets 
• Instant Payments 
• Options for international payments

2. Advanced technological capabilities

In addition to various forms of payment, you must have:

• Robust and well-documented API for custom integrations
• Plugins for major e-commerce platforms (Shopify, WooCommerce)
• Customizable checkout with your brand and optimized for mobile
• Flexible payment links 
• Anti-fraud systems adapted to regional patterns
• Real-time analytics to monitor conversions
• Customizable notification system via email, SMS and WhatsApp 

3. Unified financial management

To optimize the payment process and financial operations:

• Unified reconciliation for all countries
• Efficient management of refunds and disputes
• Support for recurring subscription models
• Retention capacity with automatic retries
• Validation and optimization of rejected transactions

4. Localized user experience

To maximize conversion:

• Payment pages in local language
• Prices in local currency without dynamic conversion
• Shopping experience tailored to regional preferences
• Personalized transactional messages
• Support via chat, email and WhatsApp

5. Competitive commissions

When selecting a payment gateway, it's essential to evaluate the fees charged based on the customer's chosen payment method. Typically, these platforms charge a flat fee—less than $1 per transaction—and a percentage of the total transaction amount, which for credit and debit cards typically ranges between 3.5% and 6%.

Finally, while security measures are an implicit requirement for all electronic payment platforms, make sure the one you choose allows you to operate securely and has certifications such as PCI DSS. In Rebill's case, we have Level 1, the highest level of this certification.

Simplifying payments in Latin America

Scaling in Latin America represents a huge opportunity for companies of all sizes, but it requires a payment strategy tailored to the regional reality.

The choice between managing multiple local integrations or adopting a unified solution like Rebill will depend on your business objectives, available resources, and priority markets.

The truth is that having a flexible payments infrastructure that combines technical robustness with local adaptation can make the difference between successful expansion and a frustrating experience for your customers.

With Rebill, you can unify your collection operations across the region without having to open legal entities, maintaining local adaptability and providing the flexibility that both startups and large enterprises demand.

Contact us today and transform the way you process payments in Latin America.

What Are Cross-Border or International Payments?

Cross-border payments—also known as international payments—are financial transactions between two parties located in different countries.

The region is shifting rapidly toward real-time infrastructure. Brazil leads this evolution with Pix, the most adopted real-time payment system across Latin America. Countries like Colombia and Peru are also gaining momentum, with some of the fastest-growing RTP adoption rates worldwide.

As digital payment systems scale, the cross-border payments market across the region is expected to grow steadily, driven by rising financial inclusion, expanding smartphone access, and a growing demand for faster, seamless ways to send money across borders.

Common Cross-Border Payment Methods

Whether your business operates regionally or globally, it's key to understand the most common methods for managing cross-border payments. These are the main ones:

Traditional electronic transfers (wire transfers)

Processed through networks like SWIFT, these are typically used for larger B2B transactions. Secure but slow and often expensive.

Electronic funds transfers (EFT)

These are international bank-to-bank transfers processed through networks like SWIFT or SEPA. Often used for high-value B2B transactions, they’re secure but tend to have slower settlement times and higher transaction fees. 

Credit card payments

It's one of the most widely used electronic payments for global sales, especially in e-commerce. Payments can be made in different currencies, but they often include conversion fees and the risk of chargebacks.

Online payment platforms

Solutions like PayPal, Wise, and similar allow you to send and receive money in multiple currencies in real time, quickly, and with competitive fees. They're ideal for one-time transactions or early-stage small businesses.

However, as you scale, these platforms can limit checkout customization, create friction in reconciliation, and impact your margin.

Cryptocurrencies

An emerging method for efficient cross-border payments. Offers low cost and speed but faces volatility and adoption hurdles. Blockchain technology is being explored as infrastructure for regional payment rails.

International money orders

Still in use for small amounts where digital access is limited, though declining in popularity due to slow processing times.

Cross-border payments with local expertise (Rebill model)

Rebill allows users to pay in their local currency via cards, bank transfers, digital wallets, or cashwithout seeing an international transaction.

Rebill receives those funds in local currency, converts them to USD, and makes an international transfer to the merchant's country , simplifying the experience for both the buyer and the seller.

This setup enables businesses to scale across multiple countries without opening local entities, while maintaining a seamless, market-adapted payment experience.

How do cross-border payments work?

When using a traditional bank, the payment process involves several entities before reaching the recipient. If the seller doesn't have a bank account at the receiving bank, the funds must be processed by intermediary banks, which adds delays and additional costs.

With Rebill, you can manage payments across several countries through a single integration. The platform handles currency conversion, local compliance, and direct fund transfers—eliminating operational friction.

Advantages of cross-border payments 

For companies

• Global Expansion Without Barriers: Enter new markets smoothly by accessing international customers, partners, and suppliers with a unified payment system.
• New Revenue Streams Selling abroad boosts business opportunities and accelerates growth. Diversifying markets strengthens income stability.
• Local risk reduction: By diversifying markets and currencies, exposure to national economic crises is mitigated. This helps maintain stable cash flow, even in unstable environments.
• Cost optimization: Some international payment methods are more affordable than traditional banking channels. In addition, hidden conversion and intermediation fees are eliminated.
• True financial flexibility: Businesses can choose the best payment method based on currency, country, or payment type. This improves the payer experience and better adapts to the type of transactions performed.
• More efficient operations: Advanced platforms automate accounting conversions, reconciliations, and reporting. This way, your finance team can focus on strategic, not operational, tasks.
• Hassle-free global payments: Facilitate transfers to suppliers or freelancers in any country from a single system. This streamlines contracting and collaboration processes without administrative friction.
• Resilience in adverse scenarios: Having revenue in different regions helps sustain operations in the face of local crises. A global revenue network protects your business against sudden declines in a single market.

For customers

• Global access from any country: You can easily purchase products and services from international brands. This expands your options and improves your digital shopping experience.
• Payments in their own currency: They choose to pay in their local currency, even if the merchant operates from another country, without any surprises at the end. This reduces friction and improves conversion at checkout.
• Security and trust: Using familiar methods like local cards, PayPal, or digital wallets improves the shopping experience. Trust in the payment method is key to completing the transaction.
• Experience tailored to the local market: Companies that operate well internationally tailor prices, messaging, and payment methods to each country. This creates proximity, greater loyalty, and a sense of local purchasing, even for businesses operating in the global market.

Challenges of cross-border payments 

Learn about the main challenges and some tips to optimize your cross-border payment management in Latin America.

• Local regulations: Each country has its own regulations regarding payments, data protection, and AML (anti-money laundering). Complying with these regulations can be costly if you don't have a solution that already operates within these frameworks.
• Currency risks: Exchange rate fluctuations can affect revenue. Multi-currency reconciliation and transparent rates allow for financial control.
• High transaction costs: Conversion and intermediary fees increase the cost of each sale.
• Variable fees depending on method and country: Additional charges vary depending on the payment method and source. Having clear rates improves your planning and user experience.
• Operational complexity: Processing international payments involves reconciliations, validations, and local adaptations. Centralizing everything under a single infrastructure saves time and effort.
• Fraud and cybersecurity risks: Cross-border payments can be more vulnerable. Using a PCI DSS-certified platform with anti-fraud software significantly reduces this risk.

Key Players in Cross-Border Payments in Latin America

These are the most relevant cross-border payment providers in the Latin American market.

Rebill

Rebill is a payments and subscription platform designed specifically for Latin America. It allows businesses to charge in local currency and manage currency conversions, offering a comprehensive payment solution for cross-border transactions in the region, without the need to open local entities in each country. 

It also offers immediate human support, unified reconciliation, automatic invoice issuance, and a transparent structure.

Ideal for SaaS, Edtech, Healthtech, and global platforms that need to operate in multiple countries without losing control or scaling operational complexity. We operate in the region's key markets.

Wise (formerly TransferWise)

Wise is a British fintech that offers fast, low-cost international transfers for individuals and businesses. Its platform allows for money transfers in multiple currencies with transparent fees and no hidden markups. It also offers multi-currency accounts and integrates with banks and businesses through its Wise Platform.

PayPal

PayPal is one of the most well-known digital payment services worldwide. It offers services like Xoom for remittances and facilitates international payments for consumers and businesses, although with fees that include a surcharge on the mid-market exchange rate.

Stripe

Stripe provides payment infrastructure for digital businesses and e-commerce, enabling companies to accept online payments and manage international transactions. Its platform supports multiple payment methods and currencies, and offers tools to simplify the complexities of cross-border payments.

Payoneer

Payoneer is a financial services company that facilitates cross-border payments for businesses and professionals worldwide. It offers accounts that allow sending and receiving funds in various currencies and provides solutions for managing B2B payments, freelance services, and access to working capital.

The future of cross-border payments in Latin America

As digital infrastructure matures and central banks push modernization, cross-border payments across Latin America will become faster, cheaper, and more inclusive.

Fintech innovation, regulatory shifts toward open finance, and increasing smartphone use are shaping a new era for the region.

With Rebill, you can make cross-border payments seamlessly while scaling your business across Latin America. Get in touch to learn how our infrastructure supports your growth in the future of payments.

What is a recurring payment?

A recurring payment, also known as autopay, is a billing model in which customers authorize a business to automatically charge them periodically, typically monthly or annually, without manual intervention.

This payment option is used by service providers that offer subscriptions: streaming platforms like Netflix, gyms, software as a service (SaaS), and more.

Types of recurring payments

There are two recurring payment systems that can be automated depending on the type of service offered: fixed or variable .

Fixed recurring payments

These are recurring charges made at a specific frequency (monthly, quarterly, annually) and for a fixed amount. The customer always pays the same amount, regardless of how much they use the service.

This process is ideal for flat-rate subscription services, such as educational platforms, digital services, or gyms.

Variable recurring payments

These are recurring charges whose collection frequency is fixed, but the amount varies depending on the customer's consumption or behavior.

This type of charging is common for services such as telephony, energy, e-commerce, cloud computing, and on-demand platforms.

Recurring Payment vs. One-Time Payment: What's the Difference?

The main difference between a recurring payment and a one-time payment is the frequency and continuity of the transaction .

• Recurring payments allow you to automate payments over a defined and consistent period of time.
• A one-time payment, on the other hand, is made only once for a specific product or service.

The recurring payment model is ideal for companies looking to scale operations and build long-term relationships with their customers, as is the case with subscription or on-demand services.

On the other hand, a one-time payment is more convenient for new customers with one-time purchases, where each transaction requires a new authorization from the user.

How do recurring payments work?

A recurring payment system consists of the following steps:

1. Customer consent: It all starts when the user agrees to be charged periodically using their preferred payment method (credit or debit card, bank account, or digital wallet).
2. The billing logic is defined: the frequency (monthly, annual, or other), the amount to be charged, and the plan terms are established. This configuration is recorded in the company's system or API.
3. The payment method is securely recorded: payment information is not stored directly, but is encrypted and stored under security protocols such as PCI DSS, thus avoiding the direct management of sensitive data.
4. The system automatically triggers payments: with the logic already configured, the payment services engine executes each transaction on the corresponding date, without the need to manually trigger each operation.
5. The payment method is validated before charging: the system verifies that the payment method is active and has available funds, which reduces rejections and improves the success rate.
6. The payment is collected and the systems are updated: once everything is validated, the amount is charged and subsequent actions are automated: sending a confirmation, issuing an invoice, or updating a subscription.

Benefits of recurring payments

For companies

• Predictable Revenue: Businesses can anticipate a steady stream of revenue, facilitating financial planning and growth.
• Improved cash flow: By receiving recurring revenue, payment and cash management improves, operating expenses are covered, and strategic investments can be made.
• Customer retention: The subscription model fosters loyalty, as subscribers tend to stay with the service longer.
• Payment automation: The payment gateway handles payment processing without manual intervention, reducing errors and administrative tasks.
• Improved user experience: By simplifying the checkout process, friction is reduced, improving satisfaction and reducing the risk of churn.
• Business model scalability: allows for better subscription management with different plans, upgrades, or complementary services, easily tailored to user behavior.
• Fewer careless cancellations: A well-implemented system reduces unintentional cancellations due to forgetfulness or lack of reminders.

For customers

• Convenience: Automatic payments eliminate the need to remember payment dates or complete transactions manually.
• Simplified financial management: Recurring payments help users plan their budget more accurately by knowing how much they will spend each month on essential services.
• Continuous access to the service: the customer does not run the risk of losing access due to forgetting to make a payment.
• Greater predictability: By maintaining a stable payment pattern (especially on fixed plans), the user reduces surprises or unexpected charges.
• Customization options: Some services allow for easy plan changes based on changing needs, giving the customer greater control without the hassle.

Challenges of recurring payments

• Risk of non-payment or cancellations: Customers can cancel at any time or experience problems with payment methods.
• Technical or administrative complexity: Implementing an automatic collection system requires proper integration and constant monitoring.
• Post-sale relationship management: Active communication is essential to retain customers and prevent cancellations.
• Transparency and trust: Users must be clearly informed about the terms, fees, and ease of cancellation to avoid friction or mistrust.

Maximize your recurring payments with Rebill

At Rebill , we make it easy to manage subscriptions and recurring payments throughout Latin America, enabling businesses to accept cards, transfers, and e-wallet payments from a single payment platform.

Our technology allows you to design flexible plans: with free trials, customizable payment cycles (monthly, quarterly, annual), specific payment dates, and duration limits defined by installments or due dates.

Automate payment recovery with smart retries—recovering up to 71% of declined payments—and reduce churn without manual intervention.

Additionally, we offer secure payment method tokenization to prevent your customers from having to re-enter their information, among many other features that improve your recurring billing process.

If you're looking for a flexible, secure solution designed to grow with you, contact us and discover how we can transform the way you collect payments in key Latin American markets.

If you missed the last one about PIX and its impact on the Brazilian e-commerce market, check it out here.

Summary

If you have a few minutes to spare, here's what you need to know about OXXO Pay and its importance for e-commerce in the Mexican market.

• OXXO Pay is one of the most popular payment methods in Mexico, accounting for 10% of the market's online transactions (i.e., a total payment volume of $6 billion). It enables customers to pay bills and make in-store online purchases with cash. OXXO Pay has a low risk of fraud or unrecognized payments because the customer must make the payment in person.
• Mexico remains a cash-based economy. Of the $476 billion transacted in e-commerce and face-to-face retail payments in 2022, $315 billion (66%) was cash, while another $127 billion (27%) was cards, and only $34 billion (7%) was in the form of digital payments. Therefore, to remain competitive, international merchants must add cash payments to their strategies to reach Mexican shoppers.
• OXXO Pay is revolutionizing finance for those who find traditional banking costly, inconvenient or intimidating. Its success is due to OXXO's extensive network and a deep understanding of customer preferences and needs, combining convenience with a customer-centric approach. Since its launch, millions of Mexican consumers have turned to their nearest OXXO to make cash payments for more than 5,000 digital services, including Amazon, Netflix, Spotify and Fortnite V-Bucks.
• Businesses have adopted OXXO Pay to access Mexico's significant unbanked market, benefit from the security and simplicity of cash transactions, and take advantage of the 24/7 availability of OXXO stores, along with real-time payment confirmation and OXXO's strong brand association, enhancing consumer confidence and transaction reliability.
• Building on its success, OXXO Pay is expanding with the introduction of Spin by OXXO, the fastest growing digital wallet and debit card in Latin America, while planning to extend its market reach to other Latin American countries and explore partnerships in the gig economy to enhance its service offerings and consolidate its position as a key player in the Latin American financial landscape.

What is OXXO Pay?

OXXO Pay is a coupon-based payment method introduced by OXXO, the largest convenience store chain in Latin America with more than 20,000 store locations owned by the FEMSA conglomerate, Mexico's fourth most valuable company by market capitalization ($42.4 billion), in partnership with Conekta, a Mexican payment service provider, which was officially launched in February 2017. It allows users to make cash payments for online purchases by generating a unique code that can be scanned at any OXXO store. It operates 24 hours a day, mirroring the convenience store's operating hours, to provide an accessible, secure and simple payment method. This caters to the substantial segment of the population that does not have access to bank accounts (52.8% remain unbanked as of today), nor access to credit (7.7% own a credit card as of today).

How to make a payment with OXXO Pay?

To pay for online purchases using OXXO, consumers simply select OXXO as a payment option at checkout on any e-commerce site that offers it. This action generates a unique payment coupon for the transaction, complete with a barcode detailing the purchase, which can be printed or saved to a mobile device. Consumers then visit their local OXXO store, present the coupon to the cashier and pay the amount in cash. If they prefer a digital approach, OXXO's e-wallet app facilitates payments by scanning a QR code on the store's device. After consumers have paid, the merchant receives a confirmation from OXXO, usually within one business day, indicating that the order can be processed and shipped.

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How OXXO Pay is transforming e-commerce in Mexico

OXXO Pay is making online shopping accessible to the vast segment of the population that does not have access to traditional banking services or prefers cash transactions. As the e-commerce market in Mexico continues to expand rapidly, projected to grow from US$74 billion in 2023 to US$176.8 billion by 2026, OXXO Pay is playing a pivotal role in enabling those without traditional banking services to participate in online shopping. This payment method bridges the gap between digital commerce and physical cash transactions by allowing customers to use cash for online purchases at any of OXXO's many locations. This integration helps mitigate the limitations imposed by the lack of banking infrastructure and access to credit, which affects nearly two-thirds of the Mexican population.

By providing a secure and simple payment alternative, OXXO Pay not only increases consumer confidence in online transactions, but also supports the broader adoption of e-commerce across diverse demographics. Its widespread acceptance and ease of use encourage more consumers to shop online, thereby expanding the customer base for businesses and fostering a more inclusive digital economy. This approach not only leverages an existing cultural preference for cash and vouchers, but also aligns with consumer habits, enhancing e-commerce's growth potential in the changing Mexican market landscape.

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Why did companies adopt OXXO Pay?

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What's next for OXXO Pay?

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Verdict

OXXO Pay has firmly established itself as a mainstay of Mexico's payments landscape, gaining significant traction among a broad demographic of users. Although it faces competition from emerging digital payment solutions and traditional banking methods, its unique position as a bridge between cash and digital commerce ensures its relevance. As cash remains predominant in the region, OXXO Pay is well positioned to maintain and enhance its influential role in Latin America's evolving financial ecosystem.

As we explore the rapid evolution of OXXO Pay and its profound impact on Mexico's payments landscape, I invite you to join the conversation about this widely adopted payment method. How do you see OXXO Pay shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media - let's examine the opportunities and challenges presented by OXXO Pay and spread the word about this cash-based payment system! Share this newsletter and join the dialogue today!

If you have questions or wish to continue the discussion, feel free to contact me directly at tony@rebill.com.

Understanding the Brazilian real: a guide for beginners

In today's increasingly globalized world, understanding different currencies and their impact on international payments is vital for both individuals and businesses. One currency that has garnered significant attention in recent years is the Brazilian real (BRL). In this beginner's guide, we will delve into the intricacies of the Brazilian real and explore its role in the country's payments system.

Exploring the basics of Brazil's currency

The Brazilian real was first introduced in 1994 as part of the country's economic stabilization plan. Since then, it has become one of the most traded currencies in Latin America. The currency is symbolized by the abbreviation BRL and uses the decimal system, with one real divided into 100 cents.

As for the design of the Brazilian real, each banknote features prominent figures from Brazil's history and culture. For example, the R$100 bill shows the effigy of the famous writer Machado de Assis, while the R$50 bill pays tribute to the renowned architect Oscar Niemeyer. These banknotes serve not only as a medium of exchange, but also as a reflection of Brazil's rich heritage.

The role of the Central Bank in Brazil's monetary system

The Central Bank of Brazil is responsible for maintaining price stability and promoting the soundness and efficiency of the financial system. It implements monetary policies to control inflation, manages foreign exchange reserves and supervises financial institutions operating in Brazil.

One of the key tools used by the Central Bank to regulate the Brazilian real is the interest rate. By adjusting the interest rate, the Central Bank can influence borrowing costs, investment levels and, ultimately, overall economic activity in the country.

Unraveling the mystery: fixed or floating exchange rate?

One of the key factors influencing the value of a currency is its exchange rate. In the case of the Brazilian real, the exchange rate can be fixed or floating. Let's explore the factors that influence the exchange rate of the Brazilian real and how it can impact international payments.

Factors influencing the exchange rate of the Brazilian real

Several factors contribute to the fluctuation of the Brazilian real exchange rate. Economic indicators, such as inflation rates, interest rates and GDP growth, play a significant role in determining the value of the currency. Global economic conditions can also have a profound impact on the Brazilian real exchange rate. In addition, market sentiment can play a crucial role in determining the Brazilian real exchange rate.

Navigating currency restrictions: the affordability of the Brazilian real

When conducting international transactions involving the Brazilian real, it is essential to understand the currency restrictions imposed by the Brazilian government. These regulations seek to control capital flows and protect the stability of the currency.

Summary of foreign exchange regulations in Brazil

Individuals and companies operating in Brazil must comply with foreign exchange regulations imposed by the government. These regulations dictate procedures for converting currencies, limitations on currency transfers and reporting requirements.

Understanding foreign spending in Brazil: currency conversion explained

When visiting Brazil or conducting business in the country, understanding how currency conversion works is essential. Let's explore some tips for converting currency in Brazil to make sure you get the most out of your foreign spending.

Tips for converting currency in Brazil

When converting currency in Brazil, it is advisable to compare rates from different financial institutions to ensure the best rates. Consider using reputable exchange services that offer competitive rates and transparent charges.

Predicting the way ahead: what's in store for the Brazilian real?

To make informed decisions regarding the Brazilian real and international payments, it is important to have an understanding of the factors that may influence its future. Let's discuss some key factors that may affect the trajectory of the Brazilian real in the coming years.

Factors affecting the future of Brazil's currency

Political stability, economic reforms, commodity prices and global economic trends are some of the factors that may impact the future of the Brazilian real. Monitoring these factors can provide information on possible developments, allowing individuals and companies to make informed decisions regarding international payments involving the Brazilian real.

Navigate Brazil's financial landscape with Rebill

Ready to simplify simplify your business transactions in Brazil?

Advantages of using Rebill

• Various payment methods:
  • Cards
  • Electronic wallets
  • Bank transfers
  • Effective in more than 10 countries
• Key benefits:
  • Transparent costs: No minimum fees or hidden costs.
  • Real human support: Personalized assistance to solve any doubt.

Solutions for all your financial needs

• Revenue management: Facilitate the management of your revenue with efficient processes.
• Payments: Ensures smooth and hassle-free payments.
• Subscriptions: Manage your subscriptions with ease and precision.

Fast and efficient integration

• API and SDK friendly: Accelerate your integration with our technology solutions.

Expansion without complications

Comprehensive services: Designed to help you expand throughout the LATAM region with ease.

Introduction to the e-commerce market in Mexico

In today's globalized world, understanding the complexities of payment methods and the e-commerce marketplace is vital for companies looking to expand their reach. In this article, we provide valuable insights into the payment methods and e-commerce landscape in Mexico, drawing on the expertise of Rebill, a leading payment platform. By exploring Mexico's growing population of online shoppers and the role of Internet penetration, businesses can gain a comprehensive understanding of the opportunities available in this market.

The potential of the Latin American market

Before diving into Mexico's payment methods and e-commerce market, it is essential to understand the immense potential of the entire Latin American region. The Latin American market is experiencing significant growth, driven by factors such as increased Internet penetration and a rising middle class. According to Statista, e-commerce in Latin America reached approximately $105 billion in 2023 and is expected to continue to grow.

E-commerce in Mexico

E-commerce growth

Mexico is one of the largest e-commerce markets in Latin America. In 2023, e-commerce in Mexico reached a value of US$30 billion, with continued growth projected. This growth is largely due to increased Internet penetration and a shift in consumer behavior towards online shopping.

Online shopper population

The number of online shoppers in Mexico continues to grow, driven by improved Internet access and the convenience of digital shopping. According to eMarketer, the number of digital shoppers in Mexico is expected to reach 60 million by 2024.

Payment methods in Mexico

Diversity of payment methods

The payment method landscape in Mexico is diverse. While credit and debit cards are widely used, it is essential to offer alternative payment options to meet the preferences of all consumers. Aside from traditional card payments, digital wallets have gained significant popularity.

Digital wallets

Digital wallets, such as PayPal, Mercado Pago and Spin by OXXO, have experienced exponential growth in Mexico. These platforms offer consumers a seamless and secure payment experience, eliminating the need to enter card details for each transaction. Businesses should prioritize the integration of popular digital wallets into their payment options to satisfy consumer preferences and drive customer satisfaction.

Cash-based payments

Despite the digitization of payments, cash remains a prevalent payment method in Mexico. Services such as OXXO Pay allow consumers to pay in cash at convenience stores, greatly facilitating e-commerce for those without access to traditional banking services.

Online Bank Transfers (SPEI)

Online bank transfers are gaining traction in Mexico as a safe and reliable payment method. Banco de México's Interbank Electronic Payments System (SPEI) allows for fast and secure transfers between bank accounts. This payment method is particularly attractive to the older generation of Mexican consumers who may be reluctant to fully embrace digital payments.

Keeping up to date on the latest developments in Mexico

In a rapidly evolving market such as Mexico, companies must keep abreast of the latest developments in payment methods and e-commerce. Monitoring industry trends allows companies to refine their strategies and align with the changing preferences of Mexican consumers. One of the key trends in Mexico's payments landscape is the rise of mobile payments. In addition, the Mexican government has been implementing initiatives to promote financial inclusion and digital payments, which benefits companies that adopt digital payment solutions.

Seamless expansion with Rebill's payment solutions

Expanding your business into Mexico requires careful planning and a comprehensive understanding of the market dynamics. Rebill provides comprehensive guidance covering all aspects of entering the Mexican market, from market research to integration of payment methods and logistics.

Ready to tap into the potential of Mexico's e-commerce market and accept all major LATAM payment methods with ease? Rebill offers a comprehensive cross-border payment gateway, allowing you to accept cards, wallets, transfers and cash in over 10 countries. Experience transparent costs with no hidden or minimal fees, and benefit from real human support every step of the way.

Ready to transform your payment processes? Contact us today to get started with Rebill.

Cross-border e-commerce has experienced significant growth in recent years, with Latin America as a key emerging market. This region offers vast potential, but also presents unique challenges that businesses must overcome to succeed. In this article, we explore the most effective tips and strategies for optimizing your cross-border ecommerce in Latin America.

Understanding the global cross-border trade landscape

Before delving into the specifics of Latin America, it is essential to understand the global trends impacting cross-border trade in 2024. International trade has grown by 27% in the last three years, according to recent studies, driven by digitalization and globalization. However, trade tensions and new tariffs, such as those between the U.S. and China, have created additional challenges for companies operating globally.

Opportunities and challenges in Latin America

Latin America, with more than 300 million Internet users, represents an unprecedented opportunity for cross-border trade. However, cultural barriers, language differences and logistics remain the main obstacles for companies seeking to penetrate this market. Recent studies show that more than 50% of Latin American consumers prefer to shop on websites that speak their language and offer local payment methods.

Key opportunities:

• Growing middle class and adoption of mobile technology.
• High demand for international products, especially in sectors such as fashion, technology and electronics.

Simplifying cross-border payments: key to success

A crucial aspect of succeeding in e-commerce in Latin America is to offer a seamless and secure payment experience. Each country has its own payment preferences, from credit cards to bank transfers and cash payments through systems such as Pix in Brazil and Mercado Pago in several countries.

To optimize your transactions:

• Integrate local payment processors that allow you to accept different payment methods, such as credit cards, digital wallets and bank transfers.
• It offers prices in local currency, which facilitates the shopping experience and increases conversion.

Logistics and supply chain optimization

Logistics is one of the biggest challenges for companies operating in cross-border ecommerce in Latin America. Shipping costs and long delivery times can lead to cart abandonment if not properly managed.

To improve logistics:

• Partner with logistics operators specialized in cross-border shipments that can optimize cost and delivery time.
• Offer options such as free shipping or flat rates to reduce friction at checkout.

Key resources for successful cross-border trade

Keeping up to date with market trends and regulatory changes is essential. In 2024, regulations around data protection and security have been tightened in many countries in the region. Use market research tools to identify consumer patterns and adapt your strategies.

Recommended resources:

• Regional market reports that provide you with insights into consumer behavior.
• Logistics partners offering expertise in international shipping, ensuring regulatory and customs compliance.

Ensuring legal compliance and security in cross-border transactions

Legal compliance and data security are paramount in e-commerce, especially when handling international transactions. In 2024, Latin America continues to make progress in regulations such as the LGPD in Brazil or the Data Protection Regulation in Argentina, which seek to guarantee the privacy of consumer data.

• Implement security certifications such as ISO 27001, which demonstrates your commitment to information protection.
• Ensure that your platform uses encryption technology to protect customer data in all transactions.

Conclusion: unlocking the potential of cross-border e-commerce

Cross-border e-commerce in Latin America presents significant opportunities for companies that are willing to adapt to the particularities of the market. Localization, simplified paymentsefficient logistics and regulatory compliance are critical factors for success in this space.

Scale your business in Latin America with Rebill

With Rebill, you can manage payments in over 10 countries in Latin America, accepting a variety of local methods and reducing friction in the payment process. Quickly integrate your platform with optimized solutions and enjoy real human support to ensure your cross-border ecommerce stays competitive.

Contact us today to take your cross-border payments strategy to the next level.

Brazil, Latin America's largest economy and home to more than 200 million people, is experiencing accelerated growth in the e-commerce sector. With increasing technology adoption and a constantly evolving digital landscape, the country offers tremendous opportunities for companies looking to expand their presence in the region. In this article, we explore the latest trends in e-commerce and payment methods in Brazil, along with consumer preferences and how companies can take advantage of this dynamic market.

E-commerce in Brazil: an opportunity in constant growth

Brazil has positioned itself as one of the most important markets for e-commerce in Latin America. The sector's growth has been driven by a growing digital economy and expanding smartphone penetration. By 2024, it is estimated that more than 60% of Brazilian consumers will shop online on a regular basis.

In addition to online shopping, Brazil is a pioneer in the adoption of new payment technologies, including contactless payment solutions, digital wallets and instant payment systems such as PIX.

Payment preferences and purchasing habits of Brazilian consumers in 2024

Brazilians have unique shopping habits and payment preferences that companies must understand to succeed in the market. Mobile shopping has gained overwhelming popularity, with more consumers using their smartphones to purchase products and services.

Main payment methods in Brazil

1. PIXPIX: The instant payment system launched by the Central Bank of Brazil in 2020 has revolutionized payments in the country. PIX allows transfers between accounts in less than 10 seconds, 24 hours a day, 7 days a week. Today, more than 70% of Brazilians use PIX for their daily transactions.
2. Digital wallets: Solutions such as Nubank, PicPay, Mercado Pago and PayPal have grown exponentially, facilitating fast and secure payments. In addition, digital wallets are compatible with contactless payments, enabled by NFC technology.
3. Boletos bancáriosBoletos, which are cash payment coupons, are still widely used in Brazil, especially for those who prefer not to use credit cards. Although it is a cash-based method, it offers flexibility to pay in physical stores and online.
4. Credit and debit cardsBrazil remains an important market for credit and debit cards, with key players such as Visa and Mastercard dominating the market. Installment payments are particularly popular, as they allow consumers to spread the cost of large purchases over several installments.

Technology and adoption of contactless payments in Brazil

Brazil has been a rapid adopter of contactless payment technologies, enabling consumers to make fast and secure transactions. The use of NFC and QR codes codes has gained ground in both online and in-store shopping. This shift has been facilitated by increased smartphone penetration and improvement in the country's digital infrastructure.

Physical store purchases continue to be relevant in Brazil

Although e-commerce is booming, purchases in physical stores continue to have a significant weight in the Brazilian retail market. Consumers tend to use credit and credit and debit cards for in-store for in-store purchases, while cash remains popular for small transactions.

Insights into Brazilian consumers' online shopping habits

Brazilian consumers deeply value support for local brands, which represents an excellent opportunity for local e-retailers. In addition, online reviews and recommendations play a crucial role in purchasing decisions. Companies that build credibility through positive reviews and customer testimonials will have a significant competitive advantage.

Key factors:

• Price sensitivity: Brazilians tend to look for deals and promotions. Offering competitive discounts and loyalty programs is essential to attract consumers and encourage customer retention.
• Trust in brands: Building trust through clear return policies, efficient customer service and fair pricing is critical to ensure success in this market.

Adapting to emerging e-commerce trends in Brazil

The adoption of mobile payments and government initiatives to promote financial inclusion are changing the e-commerce landscape in Brazil. Companies that invest in technological solutions to improve the payment experience and adapt to the needs of the Brazilian market are more likely to succeed.

Maximize your success in Brazilian e-commerce with Rebill

Rebill offers a cross-border payment solution that enables businesses to accept all popular payment methods in Brazil, including PIX, digital wallets, credit cards and boletos bancários. With transparent fees and no hidden costs, Rebill facilitates fast and efficient integration, helping businesses expand seamlessly in LATAM.

In the digital era, payment methods in Latin America have evolved dramatically, driven by technological advances and the growing demand for more secure and efficient solutions. This article analyzes the most important changes, including the decline in the use of cash, the rise of digital payments, the adoption of local payment methods and the emergence of new fintech technologies.

The changing landscape of payment methods

Payment methods have undergone a profound transformation in Latin America. Cash, which used to dominate transactions, has been losing relevance to digital options.

Digital payments: the new norm
The adoption of digital payments has been growing rapidly, thanks to factors such as increased smartphone penetration and better internet connectivity in the region. By 2024, more than 65% of consumers in Latin America regularly use digital wallets and other contactless payment methods.

Factors driving change

• E-commerce growth: E-commerce platforms have incorporated various digital payment options to facilitate transactions.
• Increased mobile connectivity: Smartphones have become essential tools for accessing financial services, with more than 80% of the population connected to mobile internet by 2024.
• Post-pandemic: The COVID-19 pandemic accelerated the preference for contactless payments, and that trend continues in 2024, with more than 70% of transactions conducted digitally in some countries in the region.

Installment payments: flexibility for consumers

Installment payments have evolved and have become a popular option. Consumers are looking for solutions that allow them to split their purchases without significantly affecting their cash flow. Platforms such as Kueski and Addi have increased their presence in Latin America, offering consumers the ability to access higher-value products without large down payments.

Local payment methods: a growing market

By 2024, local payment methods continue to gain ground in the region, adapting to consumer preferences. Companies such as Mercado Pago and Pix in Brazil are leading this shift, offering more accessible and secure solutions.

Benefits for companies:

• Increased consumer confidence in using known methods.
• Reduction of entry barriers in local markets.

Neobanks and digital wallets: the disruption continues

Neobanks such as Nubank and Ualá have transformed traditional banking, providing more accessible and affordable services. By September 2024, more than 40% of new banking customers in the region are opting for neobanks due to their ease of use and lower operating costs.

Digital wallets such as Apple Pay and Google Pay have also gained traction, allowing users to make payments with a simple tap, without the need to carry cash or physical cards. This trend continues to rise, particularly among the younger population.

Integrated finance: the future of online payments

Integrated finance is creating an ecosystem where consumers can access financial services directly on ecommerce platforms. By 2024, more than 30% of ecommerce platforms in Latin America will be offering financing, insurance and integrated payments solutions.solutions, insurance and integrated payments.

Conclusion: the future of payments in Latin America

Latin America continues to be a hotbed of innovation in payment methods. As consumers demand more flexibility and security, digital payments, neobanks and digital wallets are positioning themselves as the preferred options.

Embrace the future of payments with Rebill

Rebill is uniquely positioned to facilitate this transition. With seamless integration of all major payment methods in the region, it enables businesses to easily accept payments in more than 10 countries. Whether it's cards, wallets or transfers, Rebill offers transparent costs and real human support, helping businesses expand seamlessly.

If you missed the last one on PSE and its impact on Colombia's e-commerce market, check it out here.

Summary

- Yape is the leading mobile payments platform in Peru, launched in 2016 by Banco de Crédito del Perú, the largest bank in the Peruvian financial system and the main subsidiary of Credicorp Ltd, the largest financial institution in the country. The platform has more than 15 million users, of which 11.5 million are monthly active users, making an average of 36 transactions per month with an average transaction size of US$23. In addition, it empowers entrepreneurs and local businesses to grow financially through its suite of credit and payment tools. With around 1 million active entrepreneurs and merchants on its platform, Yape continues to play a vital role in Peru's evolving digital economy.

- Yape is significantly transforming e-commerce in Peru by addressing key barriers and enhancing digital payment experiences. As Peru emerges as the fastest growing e-commerce market in Latin America, Yape is capitalizing on this growth with features such as Yape Tienda, which simplifies the purchase of technology products and appliances directly through the app, promoting digital inclusion. With only 54% of adults having a bank or fintech account and 60% making purchases online, Yape's easy-to-use, commission-free platform encourages more frequent transactions and increased spending. Digital wallets, including Yape, account for 11% of e-commerce payment volume and are expected to grow as consumers recognize their convenience and security. Furthermore, with 64% of e-commerce volume in Peru coming from mobile devices, Yape's mobile-first approach aligns with consumer behavior, ensuring its position at the forefront of Peru's e-commerce revolution.

- Businesses have adopted Yape for its zero cost to consumers, agility, simplicity and increased security. While merchants may incur some fees, Yape is free for consumers to use, making it an attractive payment option. Payments are quick and easy, requiring only a QR code scan or mobile number with PIN confirmation, and can be made 24 hours a day, providing operational flexibility. Yape guarantees payment with real-time confirmation, improving cash flow management and ensuring transaction completion. In addition, its direct smartphone payment method reduces the risk of fraud and protects sensitive financial information, making it a secure option for businesses.

- Yape is significantly expanding its services to meet diverse customer needs and enhance financial inclusion. The introduction of Yape Tienda enables more than 15 million users to purchase technology products and home appliances directly through the app, with plans to expand the product range to more than 250,000 items by the end of 2024. Yape Lending serves 150,000 customers with fast and easy-to-use digital loans. The platform also supports businesses, including microenterprises, by enabling virtual payments based on QR codes and handling large-scale banking transactions through a newly established business profile. In addition, Yape Remittances facilitates commission-free international remittances from up to 37 countries. Internationally, Yape reached one million users in its first month in Bolivia, with the goal of reaching three million by 2025. Credicorp envisions Yape potentially evolving into a regional neobank by 2025, building on its success in Peru and Bolivia.

What is Yape?

Yape is a mobile payments platform developed by Banco de Crédito del Perú (BCP), one of Peru's largest banks. It allows users to make instant payments and transfers using their smartphones. Yape is widely used for both personal and commercial transactions due to its convenience, speed and low fees. Users can link their bank accounts or debit cards to the application and make payments by scanning QR codes, entering phone numbers or selecting contacts from their phone. It has become a popular tool for facilitating cashless transactions in the Peruvian market.

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How to make a payment with Yape?

To shop online with Yape, first make sure that the "Online Shopping" option is activated in your account. Then, go to the website of the store you wish to purchase from, select Yape as your payment method and enter your phone number. Next, look for the approval code in the main menu of your Yape application. Enter the approval code to complete the payment. The maximum amount per transaction is US$534.

How Yape is transforming e-commerce in Peru

Yape is significantly transforming e-commerce in Peru by addressing key barriers and improving the overall digital payment experience. As Peru emerges as the fastest growing e-commerce market in Latin America, with an anticipated 35% compound annual growth rate (CAGR) from 2023 to 2026, Yape is capitalizing on this growth by facilitating more seamless and secure transactions. The introduction of Yape Tienda, which allows users to purchase technology products and home appliances directly through the app, is a testament to this transformation. This feature not only simplifies the purchasing process, but also promotes digital inclusion by making e-commerce more accessible to a wider audience, including those who may be traditionally unbanked.

Yape's impact on the e-commerce landscape is particularly significant given the current state of digital engagement in Peru. With only 54% of the adult population having a bank or fintech account and only 60% of adults making purchases online, there is considerable room for growth. Yape's easy-to-use platform and commission-free transactions are attracting more consumers to move from sporadic transactions to more frequent digital transactions. By providing a seamless and secure payment method, Yape is encouraging greater spending and more consistent engagement with online shopping. This is crucial in a market where the average e-commerce consumer spends approximately US$741 annually and makes up to four digital transactions per month.

In addition, Yape is addressing the prevailing trends and preferences in payment methods and device usage in e-commerce in Peru. Digital wallets, which include Yape, currently account for 11% of e-commerce payment volume, a figure that is expected to increase as more consumers recognize the convenience and security of these platforms. Furthermore, with 64% of e-commerce volume in Peru coming from purchases made on mobile devices, Yape's mobile-first approach aligns perfectly with consumer behavior. This focus on mobile accessibility not only enhances the shopping experience, but also ensures that Yape remains at the forefront of the e-commerce revolution in Peru, further driving growth and innovation in the market.

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Why did companies adopt Yape?

- Zero cost to consumers: Although merchants may incur some fees, the use of Yape is free to consumers.

- Agility and simplicity: Payments are quick and easy, requiring only a scan of a QR code or a simple copy and paste of the cell phone number with a PIN confirmation.

- 24/7 availability: Yape operates 24 hours a day, allowing companies to make payments outside normal banking hours, thus improving operational flexibility.

- Payment guarantee with real-time confirmation: Yape ensures that funds are available almost immediately, facilitating better cash flow management for companies and confirming the completion of the transaction to all parties.

- Increased security: Because payments are made directly from the user's smartphone, Yape reduces the risk of fraud and protects sensitive financial information.

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What's next for Yape?

- Marketplace: Yape has introduced Yape Tienda, a new feature that allows its more than 15 million users to purchase technology products and home appliances directly through the app and have them delivered to their homes. Yape Tienda's goal is to become the favorite online store for Peruvians by offering a wide range of products, a safe and easy shopping experience, fast deliveries and exceptional customer service. Currently, Yape Tienda offers more than 2,000 technology and home appliance products, with plans to expand to more than 250,000 products by the end of 2024. Users can access Yape Tienda through the app menu, browse the catalog, add items to their cart and complete purchases using Yape for payment, which includes product and shipping costs. After purchase, users receive a confirmation email with order details and delivery date, with shipping available in Lima and other provinces.

- Lending: Yape Lending serves 150,000 customers who engage in digital transactions primarily for consumer purposes, emphasizing simplicity, easy-to-use applications, and speed. The average loan amount is approximately US$67. The platform enhances consumer risk models with Yape's transactional data, and the collection process is fully digital, ensuring efficiency and convenience for users.

- Yape Business: Any company, including microenterprises, can generate a QR code for virtual payments, an option implemented by the corporate initiative Bodega Digital in Lima and Callao. In 2024, a business profile option was established to handle large-scale banking operations (more than 25,000 soles per month) in exchange for a 2.95% commission on monthly revenues. This commission applies to sales over ten soles and is only charged to the business owner with the enabled profile. In addition, the platform supports point-of-service payments for products consumed in corporate franchises. In addition to physical QR codes, the app was expanded to include online payments through Págalo.pe and Joinnus, requiring an approval code generated by the user's account, separate from the password.

- Remittances: Yape has introduced "Yape Remittances," a new feature that allows users to receive dollar remittances from up to 37 countries, with the goal of improving the speed and security of international funds transfers. Yape Remittances offers commission-free transactions, providing a cost-effective solution for both senders and recipients. In addition, users can exchange dollars within the app, enhancing convenience. By partnering with seven international transfer agencies, Yape simplifies the process, eliminating long lines and improving the user experience.

- Internationalization: Yape grew rapidly to one million users in its first month in Bolivia, achieving more than 6.5 million transactions, and aims to exceed three million users by 2025, promoting financial inclusion with its easy-to-use, commission-free platform.

- Neobanco: Credicorp does not rule out the possibility that its digital wallet Yape could evolve into a regional neobank by 2025, following the success the product has achieved in Peru and its expansion in Bolivia.

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Verdict

Yape stands as a transformative force in Peru's digital payments ecosystem. Its comprehensive and easy-to-use approach meets the diverse needs of its 15 million users, who increasingly rely on its intuitive mobile app for secure, real-time payments, credit and remittances. Playing a crucial role in processing a relevant portion of all payments made with digital wallets (estimated at US$1.7 billion), Yape commands a substantial share of Peru's e-commerce sector, supporting financial inclusion for the 60% of adults who shop online. As it continues to innovate and expand its services across Latin America, Yape remains a key driver of financial accessibility and modernization, ensuring its relevance in the region's evolving financial ecosystem.

As I explore Yape's rapid evolution and its profound impact on Peru's payments landscape, I invite you to join the conversation about this widely adopted payment method. How do you see Yape shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media. Let's explore together the opportunities and challenges Yape presents and spread the word about this payment system - share this newsletter and join the dialogue today!

If you have questions or wish to continue the discussion, feel free to contact me directly at tony@rebill.com.

If you missed the last one on Yape and its impact on Peru's e-commerce market, check it out here.

Summary

- PagoEfectivo is one of the most popular payment methods in Peru, accounting for 19% of the market's online transactions (i.e., $4.75 billion in total payment volume). It allows customers to pay bills and make online purchases in physical stores with cash. PagoEfectivo has a low risk of fraud or unrecognized payments because the customer must make the payment in person.

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- Peru remains a cash-based economy. Of the $40.5 billion transacted in face-to-face retail and e-commerce payments in 2023, $19 billion (47%) was in cash, while another $16.75 billion (41%) was with cards, and only $4.75 billion (12%) was in the form of digital payments. Therefore, to remain competitive, international merchants must include cash payments in their strategies to reach Peruvian shoppers.

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- PagoEfectivo is transforming e-commerce in Peru by providing a crucial payment solution for the unbanked and underbanked populations, leveraging the rapid growth of e-commerce in Peru (projected CAGR of 35% from 2023 to 2026) and serving a market where only 54% have bank accounts and 60% shop online. Its secure and accessible cash payment method meets the needs of Peruvian online shoppers, who spend an average of US$741 per year and primarily use mobile devices for transactions. This strategy not only enhances the e-commerce experience, but also supports the sector's expansion from US$25 billion in 2023 to a forecast US$63 billion by 2026.

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- Businesses have adopted PagoEfectivo to access Peru's substantial underbanked market, benefit from the security and simplicity of cash transactions, and take advantage of an extensive network of payment points, along with real-time payment confirmation, which increases consumer confidence and transaction reliability.
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Building on its success in Peru, PagoEfectivo has expanded to Argentina, leveraging similar economic profiles and consumer behaviors to enhance market penetration and foster financial inclusion across Latin America, consolidating its position as a key player in the region's digital payments landscape.

What is PagoEfectivo?

PagoEfectivo is a voucher-based payment method that provides an alternative to credit and debit cards for online transactions. Launched in 2009, it was a subsidiary of Grupo El Comercio, Peru's largest media conglomerate, until 2021 when it was acquired by Paysafe for US$108 million. It is widely used in Latin America, particularly in Peru, allowing consumers to make secure payments using cash. The platform generates a unique payment code (CIP - Código de Pago) for each transaction, which can be paid at various physical locations such as banks, convenience stores and authorized payment points. This method is especially beneficial for the unbanked, who make up 46% of the Peruvian population.

How to make a payment with PagoEfectivo?

To make a payment with PagoEfectivo, select this payment method at checkout, generate a unique payment code (CIP) and choose a payment location from its network of banks, convenience stores and authorized points. Visit the chosen location with your payment code (printed or on your mobile device), and present it to the cashier or enter it at a self-service kiosk to pay the amount in cash. Once payment is made, you will receive a confirmation receipt and the merchant will be notified in real time to process your order. This method offers a secure and convenient way to pay for online purchases without the need for a bank account or credit card.

How PagoEfectivo is transforming e-commerce in Peru

- PagoEfectivo is playing a transformative role in Peru's fast-growing e-commerce market. As the fastest growing e-commerce market in Latin America, Peru's online retail sector is forecast to have a robust 35% CAGR from 2023 to 2026, with market volume expected to grow from US$25 billion in 2023 to US$63 billion by 2026. Despite these impressive numbers, there remains significant room for growth, particularly as only 54% of the adult population has a bank or fintech account, and only 60% of adults currently make purchases online. With online shopping representing only 8% of total retail sales, the potential for expansion is substantial, and CashPay is at the forefront of facilitating this growth by providing a crucial payment solution for the unbanked and underbanked populations.

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- Profiling the typical Peruvian online shopper reveals key insights that highlight the importance of PagoEfectivo's role. On average, Peruvian e-commerce consumers spend US$741 annually, with an average transaction ticket of US$60. The market is characterized by sporadic shoppers, with 64% of online consumers making up to four digital transactions per month. The main demographic group driving online purchases is in the 25-34 age range, representing 43% of online shoppers. PagoEfectivo caters to these consumers by offering a secure and accessible payment method that does not require a bank account or credit card, thus facilitating their participation in e-commerce activities.

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- The impact of PagoEfectivo is further highlighted by preferred payment methods and device usage trends in Peru. In 2023, debit cards accounted for 45% of e-commerce payments, followed by cash vouchers such as PagoEfectivo with 19% (US$4.75 billion). This significant share demonstrates the crucial role cash payment solutions play in the market. Furthermore, with 64% of e-commerce transactions conducted via mobile devices, CashPay's user-friendly platform is well suited to meet the needs of this mobile-centric consumer base. By providing a reliable and convenient payment option, PagoEfectivo not only enhances the e-commerce experience for Peruvian consumers, but also supports the continued growth and evolution of the market.

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Why did companies adopt CashPay?

- Cash-dominated economy: They access a significant segment of the market that does not use traditional banking services in Peru, is underbanked and has limited or no access to credit cards.

- Transaction security: Payments made through PagoEfectivo have a low risk of fraud or non-recognition because the customer must make the payment in cash, in person, at one of the authorized payment locations.

Agility, simplicity and availability: Payments are quick and easy, requiring only the generation of a unique payment code (CIP). With a wide network of payment points including banks and convenience stores, consumers can make payments conveniently.

Real-time confirmation: PagoEfectivo guarantees immediate verification of funds, ensuring fast completion of the transaction for all parties involved.

What's next for CashPay?

Expansion into new markets: Building on its established success in Peru, PagoEfectivo expanded its services to Argentina. By tapping into this market, which shares similar economic profiles and consumer behaviors, PagoEfectivo capitalized on its recognized brand identity to facilitate market penetration and foster financial inclusion throughout Latin America. This strategic move could significantly enhance PagoEfectivo's influence in the region's digital payments landscape.

Verdict

PagoEfectivo has firmly established itself as a pillar of the payments landscape in Peru, gaining significant traction among a diverse demographic of users. Although it faces competition from emerging digital payment solutions and traditional banking methods, its unique position as a bridge between cash and digital commerce ensures its relevance. Given that Peru remains a cash-based economy, PagoEfectivo is well positioned to sustain and enhance its influential role in Latin America's evolving financial ecosystem, especially with its recent expansion into Argentina and continued focus on financial inclusion.

As I explore the rapid evolution of PagoEfectivo and its profound impact on the payments landscape in Peru, I invite you to join the conversation about this well-adopted payment method. How do you see PagoEfectivo shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media - let's explore the opportunities and challenges presented by PagoEfectivo and spread the word about this payment system! Share this newsletter and join the dialogue today.

If you have questions or would like to continue the discussion, please feel free to contact me directly at tony@rebill.com.

Summary

• Boleto Bancario is a cash payment method regulated by the Brazilian Federation of Banks (FEBRABAN), launched in 1993. It works like a voucher or bank bill, where merchants generate a Boleto containing a barcode and payment details. Consumers can pay for these Boletos at banks, lottery agencies, supermarkets, post offices or through online banking platforms. This method is especially beneficial for individuals without credit cards or traditional bank accounts, allowing them to securely participate in the digital economy.
• Companies have adopted Boleto Bancario because of its accessibility to consumers without credit cards or bank accounts, the elimination of chargebacks, its wide acceptance in various sectors and the trust it has gained among Brazilian consumers. This payment method offers a secure way to complete transactions, minimizing the risk of fraud and ensuring that payments, once made, are irreversible.
• Boleto Bancario is transforming e-commerce in Brazil by contributing significantly to its rapid growth and expansion. It supports 57% of Brazil's dominance in Latin American e-commerce sales by providing an inclusive and secure payment option. The popularity of this method, which accounts for 10% of e-commerce payment volume (US$27.5 billion), helps drive participation among a broader segment of the population. This inclusivity and the extensive use of mobile devices for e-commerce underscore Boleto's role in facilitating secure and simple transactions, increasing consumer confidence and supporting Brazil's vibrant digital economy.
• Looking ahead, Boleto Bancario will improve its efficiency and relevance through digital integration with online and mobile banking platforms. This will allow users to generate and pay Boletos directly through banking applications, improving convenience and reducing the need for physical visits. This shift supports financial inclusion and accessibility, enabling unbanked and underbanked populations to participate in the digital economy. These advances ensure that Boleto Bancario remains a vital and competitive payment method in Brazil's evolving financial landscape.

What is Boleto?

‍Boleto Bancario is a Brazilian payment method regulated by the Brazilian Federation of Banks (FEBRABAN) and widely used in various sectors for both online and offline transactions. Launched in 1993, it operates similarly to a bank voucher or invoice. Merchants generate a Boleto containing a barcode and all relevant payment details, which consumers can pay for at banks, lottery agencies, supermarkets, post offices and via online banking platforms. This system is particularly beneficial for individuals without access to credit cards or traditional bank accounts, allowing them to participate in the digital economy in a safe and convenient way (9.2% remain unbanked).

The Boleto Bancario system is known for its inclusiveness and security. It is a preferred payment method among Brazilian consumers who do not wish to use credit cards due to concerns about fraud and overspending. Once a Boleto is paid, the transaction is irreversible, eliminating the risk of chargebacks for merchants. Typically, payment confirmation takes 1-3 business days, making it a reliable but slightly slower option compared to instant payment methods such as PIX. Despite this, its wide reach and acceptance make it an integral part of Brazil's financial landscape, supporting a significant portion of the population in managing their financial transactions.

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How to make a payment with Boleto

‍Tomake a Boleto Bancário payment in an online checkout, first select Boleto Bancário as your payment method. The system will generate a Boleto voucher containing a barcode, payment amount, due date and transaction details. Download or print the Boleto. You can pay in several ways: log in to your online banking account and enter the Boleto barcode number in the bill payment section, use a mobile banking app to scan the barcode, or pay in person at authorized locations such as banks, lottery agencies, supermarkets, post offices or convenience stores. Once paid, the transaction generally takes 1 to 3 business days to process and confirm.

How Boleto is transforming e-commerce in Brazil

‍BoletoBancário is significantly transforming e-commerce in Brazil, playing a vital role in its rapid growth and expansion. With Brazil dominating 57% of e-commerce sales in Latin America, Boleto Bancário has become an essential payment method, especially for consumers who do not have access to credit cards or traditional banking services. As an inclusive and accessible payment option, Boleto enables a broader segment of the population to participate in online shopping, thus driving e-commerce participation. The ease of use and security of the method are particularly attractive to Brazilian shoppers, who appreciate the ability to complete transactions without the risks associated with credit card or debt fraud.

E-commerce in Brazil has seen remarkable growth, with a projected volume of US$457 billion by 2026 and a compound annual growth rate (CAGR) of 18% from 2023 to 2026. This impressive growth is supported by the popularity of Boleto Bancário, which makes up 10% of e-commerce payment volume in the country. As e-commerce penetration reaches 90% among the adult population, Boleto Bancário remains a preferred option for many, particularly those in the 36-50 age range, who represent a significant portion of online shoppers. This demographic, combined with the extensive use of mobile devices for e-commerce (accounting for 70% of volume), highlights Boleto's role in facilitating secure and simple transactions in an increasingly digital marketplace.

In addition, Boleto Bancário's impact is also seen in its geographic reach within Brazil. The Southeast region, which leads in online sales with a 56% share, benefits greatly from Boleto's wide acceptance. Similarly, other regions such as the Northeast, South, Midwest and North also show substantial e-commerce activity, driven by the availability of Boleto as a payment method. By providing a reliable and secure way to pay for goods and services, Boleto Bancário not only supports the current e-commerce infrastructure, but also fosters further growth and inclusiveness in Brazil's vibrant digital economy.

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Why did companies adopt the Boleto?

• Accessibility: Boleto Bancário allows consumers who do not have credit cards or bank accounts to make online purchases.
• No chargebacks: Since payment is in cash, there are no chargebacks for merchants, reducing the risk of fraud.
• Wide acceptance: It is widely accepted in various sectors, including e-commerce, utilities, insurance and education.
• Consumer confidence: Many Brazilian consumers trust Boletos because of its long-standing presence and the security associated with bank-regulated payments.

What's next for Boleto?

• Digital integration: As digital banking and fintech solutions continue to evolve, Boleto Bancário is integrating more seamlessly with online and mobile banking platforms. This integration allows users to generate and pay Boletos directly through their banking apps, improving convenience and reducing the need for physical visits to payment locations. This shift towards digital payments supports the overall trend of financial inclusion and accessibility.

Verdict

‍BoletoBancário stands as a transformative force in Brazil's financial ecosystem. Launched in 1993, it has become a widely accepted payment method in various sectors, driven by its accessibility to consumers without credit cards or traditional bank accounts. This method significantly boosts financial inclusion, enabling broader participation in Brazil's digital economy. Businesses adopt Boleto Bancário because of its secure cash transactions, elimination of chargebacks and the trust it has gained among consumers. It supports Brazil's dominance of 57% of e-commerce sales in Latin America, contributing to a projected e-commerce volume of US$457 billion by 2026. Looking ahead, Boleto Bancário will improve its efficiency and relevance through seamless digital integration with online and mobile banking platforms, allowing users to generate and pay Boletos directly through banking apps. This change increases convenience and supports financial inclusion, positioning Boleto Bancário as a vital and competitive payment method in Brazil's evolving financial landscape.

As I explore the rapid evolution of Boleto and its profound impact on Brazil's payments landscape, I invite you to join the conversation about this widely adopted payment method. How do you see Boleto shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media. Let's explore the opportunities and challenges Boleto presents and spread the word about this payment system.

Share this newsletter and join the dialogue today! If you have questions or would like to continue the discussion, feel free to contact me directly at tony@rebill.com.

The traditional reign of cards

For decades, credit and credit and debit cards have been the cornerstone of payments in Latin America. Credit cards still dominate with an impressive 48% market share, processing a transaction volume of $240 billion. Giants such as Visa, Mastercard and American Express have long been synonymous with reliable and widely accepted payment options throughout the region.

Debit cards, although less dominant, play a crucial role in financial inclusion and serve as a bridge between cash and digital payments. With a 10% market share and $50 billion in volume, they remain a significant player in the payments ecosystem.

The rise of alternative payment methods

However, the winds of change are blowing strongly. APMs are rapidly gaining ground, challenging the status quo:

1. Instant Payment Systems: Leading the Charge is PIX from Banco Central do Brasil, a revolutionary that has captured 16% of the market with $80 billion in transaction volume. Its astronomical growth and potential for regional expansion is reshaping the payments landscape.
2. Digital wallets: With a market share of 9% and a volume of $45 billion, players such as Mercado Pago, Ualá, MODO , Yape y Nequi not only facilitate transactions, but also drive financial inclusion and offer value-added services that traditional cards cannot match.
3. Cash vouchers: In spite of the digital revolution, cash-based systems such as OXXO Pay from FEMSA, Boleto Bancario, PagoEfectivo, A Paysafe Company and Efecty maintain a strong 9% market share ($45 billion in volume), serving as a vital lifeline for unbanked populations.
4. Bank transfers: Although smaller, with a market share of 5% ($25 billion in volume), systems such as SPEI of Banco de México, PSE from ACH Colombia Oficial, Khipu and BROU remain crucial for high-value transactions in markets with strong traditional banking sectors.

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The transition to a multi-rail environment

The diversification of payment methods in Latin America represents a fundamental transformation in the way consumers and businesses approach financial transactions. This shift to a multi-rail environment is driven by several key factors:

Consumer demand for simplicity and flexibility

Latin American consumers are increasingly looking for payment solutions that offer ease of use and adaptability. This demand is driving the rise of digital wallets and instant payment systems that simplify transactions across platforms and contexts.

The "P2P-ification" of payments

Peer-to-peer (P2P) functionality has become a cornerstone of modern payment systems in the region. Solutions such as PIX in Brazil and Yape in Peru have made P2P transfers so seamless that they are redefining expectations for all types of financial interactions.

Financial inclusion

Alternative payment methods (APMs) play a crucial role in bringing financial services to the unbanked and underbanked populations. For example, cash-based systems such as OXXO in Mexico continue to bridge the gap between digital commerce and traditional cash transactions.

Mobile approach

With a significant portion of e-commerce transactions occurring on mobile devices (69% in Argentina, 64% in Peru), payment solutions optimized for smartphones are gaining rapid adoption.

Real-time payments

The success of instant payment systems such as PIX in Brazil and PSE in Colombia demonstrates a strong preference for real-time transactions, putting pressure on traditional payment methods to evolve.

The numbers tell a compelling story of this change:

• Credit cards have seen their market share erode from 55% in 2018 to 48% in 2023, indicating a clear movement away from traditional payment methods.
• Alternative payment methods are projected to grow at impressive rates from 2023 to 2026: Bank transfers: 38% CAGR, PIX (Brazil): 26% CAGR, Digital wallets: 20% CAGR, and Cash vouchers: 15% CAGR.

The rise of multi-rail platforms is inevitable as consumers and businesses seek to leverage the strengths of multiple payment methods. These platforms integrate traditional banking services with innovative fintech solutions, offering a full suite of options that meet diverse needs and preferences.

Country-specific trends

This change is not uniform across the region. Each country has its own unique dynamics:

Brazil

The PIX revolution has redefined instant payments, setting a benchmark for the region. As the fastest growing real-time payment method in the world, PIX processed a staggering $80 billion in Brazil alone by 2023, capturing 16% of Latin America's total e-commerce volume. With more than 140 million users (about 65% of Brazil's adult population), PIX has become an integral part of Brazil's financial ecosystem, surpassing debit and credit card volumes combined.

Mexico

OXXO' s vast network demonstrates the enduring power of cash-based systems to drive financial inclusion. OXXO Pay accounts for 10% of Mexico's online transactions, processing approximately $6 billion in total payment volume. In a country where 66% of retail payments are still made in cash, OXXO Pay bridges the gap between digital commerce and physical cash transactions, enabling e-commerce participation for the unbanked population.

Colombia

The rapid adoption of digital wallets is transforming the payments landscape. Nequi, a digital wallet-turned-neobank, is leading the charge with 18 million users and 13 million active monthly transactions. It commands 3% of Colombia's total e-commerce market, processing around $1.3 billion. In addition, PSE, a real-time payment method, handles 32% of all online transactions, totaling $13.53 billion, showing the country's rapid transition to digital payments.

Argentina

The "QR-ification" of payments is revolutionizing Argentina's financial landscape. In the $28 billion e-commerce sector, Mercado Pago is leading the charge, with digital wallets accounting for 23% of payment volumes. As a pioneer of QR code payments since 2015, Mercado Pago has made smartphone-based transactions commonplace. Complementing this, MODO, a collaborative effort of more than 30 banks launched in 2020, has rapidly gained 12 million users and 500,000 merchants. With both platforms driving QR-based transactions, Argentina is seeing a rapid transition to cashless payments in the online and offline spaces.

Peru

The fastest growing e-commerce market in Latin America is being transformed by Yape, the country's leading mobile payments platform. With more than 15 million users and 11.5 million monthly active users, Yape processes a total payment volume of $13.39 billion annually. As digital wallets account for 11% of e-commerce payment volume, Yape is at the forefront, addressing key barriers in a country where only 54% of adults have a bank or fintech account. Its easy-to-use, commission-free platform aligns perfectly with Peru's mobile focus, where 64% of e-commerce volume comes from mobile devices.

The future of payments in Latin America

As we look to the future, the growth trajectory of APMs shows no signs of slowing down. Traditional card networks are not sitting idly by: they are innovating and adapting to stay relevant. The future will likely contain a mix of competition and collaboration between cards and APMs, ultimately benefiting Latin American consumers with more choice and better services.

In conclusion, the $500 billion dispute between cards and APMs in Latin America is far from over. This dynamic shift to a multi-rail environment is not only changing the way transactions are processed, but is also revolutionizing financial inclusion, the growth of e-commerce and the very nature of money in the region.

Prepaid card payment is an option that allows you to make online or in-person transactions using a card that has been pre-loaded with a specific amount of money. Unlike credit or debit cards, prepaid cards are not linked to a bank account. In Latin America, their use has grown significantly, as they offer a secure and accessible alternative for people who do not have access to traditional banking services or who prefer not to use their personal cards online.

Examples of prepaid cards in Latin America

Some of the most popular prepaid cards in Latin America include:

1. Mercado Pago (Argentina and other countries): Offers a prepaid card that can be easily recharged through Mercado Pago's digital wallet, ideal for online purchases.
2. RappiPay (Colombia, Mexico): Rappi has launched prepaid cards in partnership with Visa, facilitating payments for users of its platform.
3. Nequi (Colombia): Bancolombia launched this prepaid card linked to its digital wallet, which is widely used for online purchases.
4. Bradesco Visa Prepaid (Brazil): Popular in Brazil, it is used for online purchases and is accepted wherever Visa is accepted.

Relevance of accepting prepaid cards in your online business

Accepting prepaid cards in your online business is essential to capture a growing segment of consumers in Latin America who do not use conventional credit or debit cards. Prepaid cards offer several advantages:

• Security: Users can make purchases without linking their bank account, which reduces the risk of fraud.
• Accessibility: Many unbanked people use prepaid cards as a tool to access e-commerce.
• Spending control: Because they are reloadable, prepaid cards help users maintain control over their spending, avoiding excessive indebtedness.

Benefits for your business

Incorporating prepaid cards into your payment platform improves the customer experience, reduces cart abandonment by offering more options and increases conversion rates by accepting popular payment methods. Rebill allows your business to accept prepaid cards, e-wallets and other popular payment methods in more than 10 countries in Latin America, making it easy to expand your operation without the need for complex infrastructure or legal presence in each country.

Implementing Rebill as a payment solution also allows you to make payments to employees and partners in their preferred currency, with easy integration through its API and SDK. Contact us today and find out how you can optimize the acceptance of prepaid payments and expand your business in the region.

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If you missed the last one about OXXO Pay and its impact on the e-commerce market in Mexico, check it out here.

Summary

If you have a few minutes to spare, here is what you need to know about SPEI and its importance for e-commerce in the Mexican market.

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- SPEI, Mexico's real-time electronic payments system that facilitates secure and instantaneous money transfers between bank accounts, is used by six out of every ten people in Mexico, facilitating more than 13.7 billion digital transactions since its launch in 2004. Initially registering only 215,634 transactions totaling US$1 billion, SPEI experienced dramatic growth, with 2023 alone witnessing more than 3.894 billion transactions valued at nearly US$31 billion. The system is predominantly used by people between the ages of 25 and 54, with the 35-54 age group accounting for 38% of usage, followed by the 25-34 age group with 28%. Usage rates for those under 25 and over 64 range between 9% and 17%, respectively.

- As a key component of Mexico's financial system, SPEI significantly enhances the e-commerce sector with its real-time processing capabilities, handling about 3% of e-commerce payment volume, approximately $2.22 billion. This integration not only provides speed and reliability in online transactions, but also offers a secure alternative to traditional payment methods by enabling direct bank transfers, thus mitigating risks such as fraud and chargebacks. As e-commerce grows, SPEI's role is expected to expand, backed by its 24/7 availability and the convenience it offers, which aligns well with the ongoing nature of online shopping and could lead to wider adoption among businesses and consumers.

- Companies have adopted SPEI for its ability to enable real-time transactions crucial to effective cash flow management and time-sensitive payments. With its flexible transaction limits, SPEI supports diverse payment needs, operates 24 hours a day, 7 days a week to enhance business operational flexibility, and is universally accessible through most major banks in Mexico. In addition, the finality of SPEI transactions eliminates the risk of chargebacks by providing a secure environment through multi-layered security measures, including advanced encryption and continuous monitoring. This security, combined with SPEI's cost efficiency and broad acceptance, significantly reinforces its adoption in a variety of sectors.

- The future of SPEI is shaped by ongoing developments, notably with the introduction of Cobro Digital (CoDi) in 2019 and Dinero Móvil (DiMo) in 2023. Despite CoDi's innovative features, such as QR codes and NFC for payments, it has had limited adoption, attracting only around 8% of the Mexican population. To address these challenges and improve user engagement, Mexico's central bank, BANXICO, launched DiMo, which simplifies transactions by enabling instant transfers using just a phone number. In its first year, DiMo is expected to significantly outperform CoDi, with projections of enrolling 5 million users and processing more than US$560 million in transactions, far exceeding initial expectations for CoDi.

What is SPEI?

Sistema de Pagos Electrónicos Interbancarios (SPEI) is a real-time electronic payment system developed by the Central Bank of Mexico, BANXICO, in 2004. It allows instant and secure funds transfers between bank accounts throughout Mexico. Accessible 24 hours a day, 7 days a week, SPEI is used for a wide range of transactions, from routine bill payments to one-time purchases. Its fast processing and robust security features make it a preferred financial tool for both individuals and businesses. As a cornerstone of Mexico's financial infrastructure, SPEI improves the efficiency and security of monetary movements. This system represents a significant step toward modernizing and simplifying financial transactions in the country, where cash is still predominant.

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How to make a payment with SPEI

SPEI operates similarly to other online banking systems, streamlining the payment process during online purchases. At checkout, customers can select SPEI as their payment option, which generates a receipt containing essential payment details.

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To use SPEI, customers need a bank account that supports Internet and/or mobile banking, as payments are debited directly from their account. Essential payment details required include the recipient's 18-digit CLABE (Clave Bancaria Estándarizada) and payment amount.
The entire payment process is handled through the user's bank. Once the transfer is completed, users receive a detailed receipt, ensuring that the transaction is transparent and secure. This setup not only simplifies payments, but also improves security and convenience for Mexican consumers.

How SPEI is transforming e-commerce in Mexico

As a major player in Mexico's financial landscape, SPEI is increasingly influencing the e-commerce sector. With its real-time processing capabilities, SPEI handles approximately 3% of Mexico's e-commerce payment volume, which equates to around $2.22 billion. This adoption underscores its growing role in facilitating online transactions where speed and reliability are crucial. For businesses, SPEI's appeal lies in its ability to provide instant payment confirmations, improving the efficiency of online sales operations and customer satisfaction by reducing the waiting time for payment authorization.

In addition, the integration of SPEI into e-commerce platforms offers a secure alternative to traditional payment methods, which can be prone to delays and security concerns. By enabling direct bank transfers, SPEI mitigates the risks associated with card payments, such as fraud and chargebacks, thus providing a safer environment for both merchants and consumers. This security feature is particularly significant in a digital landscape where trust and security concerns can influence purchasing behavior and brand loyalty.

As e-commerce continues to expand in Mexico, SPEI's role is likely to grow further, driven by its ability to adapt to the needs of a dynamic market. The 24-hour availability of the system allows businesses to operate and accept payments outside of traditional banking hours, which aligns well with the continuous nature of online commerce. This convenience is a crucial factor in enhancing the consumer shopping experience, potentially increasing the adoption of SPEI as a preferred payment method among more e-commerce businesses and shoppers in Mexico.

Why did companies adopt SPEI?

- Real-time transactions: SPEI enables the instant transfer of funds between bank accounts, which is crucial for companies that need to manage cash flow effectively and make time-sensitive payments.

- Flexible transaction limits: SPEI supports the execution of large and small value transactions in real time, giving businesses the flexibility to handle diverse payment needs without the constraints of fixed limits.
24/7 availability: The system operates 24 hours a day, 7 days a week, allowing businesses to make payments outside of normal banking hours, thus enhancing operational flexibility.

- Widespread accessibility: Because SPEI is compatible with almost all major banks in Mexico, it provides a universally accessible platform for businesses to conduct transactions within the country.

- No risk of chargebacks: SPEI transactions are final, meaning that once money is transferred, it cannot be automatically reversed. This feature is especially advantageous for businesses, as it eliminates the risk of chargebacks that are common in credit card transactions.

- Enhanced security: SPEI secures every transaction with multi-layered protections, including advanced encryption and strong authentication protocols. Continuous monitoring also protects against suspicious activity, ensuring the security of funds and user data.

- Cost efficiency: SPEI provides a cost-effective solution for transferring money, offering lower transaction fees that are attractive to both individuals and businesses. This affordability, coupled with its efficiency and security, greatly enhances its popularity and adoption in various sectors.

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What's next for SPEI

New initiatives: In 2019, Banxico introduced Cobro Digital (CoDi), a new instant payment system built on SPEI's infrastructure. CoDi offers functionality for payment request transactions using QR codes, near field communication (NFC) and internet messaging. Users can create a QR code that includes payment details and share it through messaging applications or the CoDi application. Despite these features, CoDi has not met its initial adoption goals and remains underutilized in Mexico (only 8% of its population has accounts). In response, Banxico launched Dinero Móvil (DiMo) in 2023, a service that simplifies instant bank transfers through SPEI using just a phone number. For its first year, BBVA Mexico anticipates enrolling 5 million users for DiMo, surpassing the total number of active CoDi users, and expects to process more than US$560 million worth of transactions, significantly more than the volume initially projected for CoDi.

Verdict

SPEI remains a key player in Mexico's payments landscape, acting as the foundation for innovations such as CoDi and DiMo, which build and expand its infrastructure. While SPEI provides the essential framework, CoDi and DiMo enhance its functionality with features tailored for modern digital transactions. This seamless integration ensures SPEI's continued relevance and adaptability in Mexico's evolving financial ecosystem. As digital payment solutions grow, SPEI's established network and role in supporting new technologies keep it vital to Mexico's shift toward more digital financial services.

As I explore the rapid evolution of SPEI and its profound impact on Mexico's payments landscape, I invite you to join the conversation about this well-adopted payment method. How do you see SPEI shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media. Let's explore the opportunities and challenges SPEI presents and spread the word about this payment system. Share this newsletter and join the dialogue today!

If you have questions or wish to continue the discussion, feel free to contact me directly at tony@rebill.com.

Summary

If you have a few minutes to spare, here's what you need to know about PIX and its importance for e-commerce in the Brazilian market.

- PIX is the fastest growing real-time payment system in the world, used by more than 140 million people (approximately 80% of the adult population) and 14 million companies, according to BCB statistics as of March 2024. More than 4 billion transactions are made every month, with an average ticket of around US$88.

- PIX payment volumes surpassed debit and credit card payments for the first time in the fourth quarter of 2021, just 15 months after its launch. These volumes are now 23% higher than debit and credit cards combined.

- Person-to-business (P2B) transactions through PIX experienced substantial growth, capturing 36% of all PIX transactions and reaching a volume of US$330 billion. This marked increase underscores the widespread adoption of PIX in the commercial sector, highlighting its efficiency and the cost benefits it offers over traditional payment methods.

- Companies are convinced of the benefits of accepting Pix. Its popularity, instant funding times and significantly cheaper processing fees have led many to offer Pix as a payment method at checkout. These time and cost savings have enabled merchants to offer free shipping or attractive discounts to shoppers who pay with Pix, making it an integral part of payment and sales strategies.

- In 2023, PIX became a major force in Latin American e-commerce, securing 16% of the region's total e-commerce volume. This achievement highlights its rapid growth, overtaking debit cards as the preferred payment method among users and demonstrating its wide acceptance and effectiveness in the digital marketplace.

- Future features of PIX include PIX Automatic, which will manage recurring payments, and PIX Credit, which will enable installment payments. These enhancements are designed to increase PIX's versatility and convenience for users, further integrating it into everyday financial transactions and expanding its utility in Brazil's evolving digital economy.

What is PIX?

PIX is an instant payment system introduced by Banco Central do Brasil, Brazil's central bank, which was officially launched in November 2020. It allows users to make and receive payments in real time, 24 hours a day, 7 days a week, including weekends and holidays. The system is designed to work across all banking and financial institutions in Brazil, making it universally accessible to anyone with a bank account, whether individuals or businesses.

Payments through PIX can be initiated using multiple identifiers, such as a tax identification document (CPF or CNPJ), cell phone number, email address or a randomly generated PIX key. The system is designed to be highly secure, using end-to-end encryption to protect transaction data. PIX supports not only transfers between parties, but also bill, tax and purchase payments, among other financial transactions. It was developed to be a faster, more efficient and cost-effective alternative to traditional payment methods such as bank transfers (TED and DOC) and card payments, with the objective of increasing financial inclusion and reducing cash dependency within the Brazilian economy.

How to make a payment with PIX?

Paying with PIX is simple and easy to use. Users can scan a QR code with their smartphones or use a PIX key, such as the recipient's phone number or email address, to complete transactions. For online purchases on a computer, the process mimics physical store purchases: select PIX at checkout, scan the displayed QR code with your banking app, and confirm details before finalizing payment. Mobile shopping further simplifies this process; after selecting PIX, the device displays all supported apps, allowing users to choose one and confirm transaction details directly.

Potential for P2B payments with PIX

Fifty-four percent of Pix transactions in 2023 were person-to-person (P2P). However, person-to-business (P2B) payments with Pix are gaining momentum, gaining a 36% share of the number of transactions during 2023. P2B payments are becoming the fastest growing use case for Pix as billers and merchants realize material cost savings with Pix versus other payment methods.

In terms of transaction volume, P2B payments through Pix accounted for 12% of its total in 2023, reaching US$330 billion. This P2B payment dynamic reveals Pix's potential as an e-commerce instrument.

How PIX is transforming e-commerce in Brazil

The integration of Pix in Brazilian e-commerce is now complete, achieving 100% acceptance among the nation's 59 largest online retailers, including giants such as Amazon and Americanas. This milestone, noted by Gmattos Payments Studio, marks a significant shift from September 2022, when 18.6% of these stores had not yet adopted Pix. The transition to Pix has catalyzed a shift in payment habits, offering discounts of 5% to 20%, which has not only driven adoption, but also encouraged higher conversion rates due to its lower costs compared to other methods.

Retailers are leveraging Pix to improve cash flows and minimize shopping cart abandonment. Unlike credit card transactions, which can involve chargebacks and higher costs due to Merchant Discount Rates (MDR) and receivables assignment, Pix transactions are instant and secure, significantly reducing the risk of chargebacks and improving cash flow.

The trend toward fewer interest-free installments on credit cards in favor of discounts on immediate payments underscores a broader movement toward more transparent and economically sensible pricing models. This shift could further boost Pix's role in the market, especially with upcoming features such as Pix Automatic and installment payments, which promise to enhance the user experience and match the benefits currently exclusive to credit cards.

Finally, Pix has scaled astronomically and alone has claimed 16% of Latin America's e-commerce volume by 2023, surpassing debit cards, which until now have been the second largest payment method.

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Why did companies adopt PIX?

- Zero Cost to Consumers: While merchants may incur some fees, the use of PIX is free to consumers.

- Agility and Simplicity: Payments are quick and easy, simply by scanning a QR code or copying and pasting a PIX key.

- Transaction Size Flexibility: There is no upper limit on transaction sizes in PIX. This approach gives the system the flexibility to cater to a variety of users, from individual households to large corporations, who often have different transaction requirements.

- Payment Guarantee with Real-Time Confirmation: PIX ensures that funds are available almost immediately, facilitating better cash flow management for companies and confirming transaction completion to all parties.

- Enhanced Security: Because payments are made directly from the user's smartphone, PIX reduces the risk of fraud and protects sensitive financial information.

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What's next for PIX?

PIX Automatic / PIX Recurring: This new feature will allow PIX to handle recurring payments for SaaS services, streaming and more, greatly simplifying the process for those without credit cards who currently rely on cumbersome alternatives such as tickets and gift cards. The introduction of PIX recurring payments has the potential to significantly increase adoption in Brazil, leveraging one of the most robust subscription economies in the world.

PIX credit for installment payments: Paying for purchases in installments is a popular practice in Brazil, with up to 50% of online credit card purchases made in this way. The Central Bank's inclusion of PIX installment payments could expand this option to more consumers, especially since only 36% of Brazilian adults have credit cards. Currently, some financial institutions offer PIX installment payments, but these are handled internally without regulation by the Central Bank, a situation that could change in the future.

PIX international: PIX international would enable cross-border payments with currency conversion. Brazil's central bank is exploring agreements to connect PIX with platforms around the world. Italy has already expressed interest in a bilateral agreement with PIX. Five Asian countries are already testing the platform for instant cross-border transactions.

Verdict

PIX has emerged as the leading force in Brazil's payments market, reaching unprecedented levels of relevance and adoption. Although recent trends toward interest-free installments on credit cards have slightly diminished PIX's usage, it remains well positioned for a strong comeback. By introducing new features and expanding into additional markets, PIX is poised to maintain its pivotal role in the financial landscape.

As I explore the rapid evolution of Pix and its profound impact on Brazil's payments landscape, I invite you to join the conversation about this transformative financial technology. How do you see Pix shaping the future of e-commerce and beyond? Share your thoughts and experiences with me on social media - let's explore the opportunities and challenges Pix presents and spread the word about this innovative payment system! Share this newsletter and join the dialogue today.

If you have questions or wish to continue the discussion, feel free to contact me directly at tony@rebill.com.