E-commerce in Brazil is set to grow by 15% in 2016 despite the economic recession affecting the country and the overall e-commerce market size for Brazil is $23 billion—three times that of Mexico, the second-largest e-commerce market in Latin America.
Americas Market Intelligence found while Brazil accounts for 60% of all e-commerce in Latin America, significant challenges await companies who go into the market without the crucial details needed to be successful.
Despite this robust market, without a local payment strategy, merchants only reach 17% of Brazil’s total addressable e-commerce market. Non-card payment methods represent 23% of all Brazilian e-commerce sales, and 58% of e-commerce volume in Brazil is purchased using an installment plan.
AMI says merchants face a number of challenges when going into Brazil’s lucrative e-commerce market and only 20% of Brazil’s credit cards are enabled for international use, which is a major problem for merchants using an offshore payments approach.
Merchants need to replicate the Brazilian shopping experience as much as possible to cater to Brazilian customers.
Optimizing E-commerce Payments in Brazil shows merchants how to develop a local payment strategy and partnerships, as well as how to find the right payment gateway. The report contains detailed profiles of 16 leading payment gateways and helps merchants select which are most suitable based on their size and verticality.
The payment gateways profiled in the report include: PayU, PayPal, Adyen, Worldpay, Digital River, Braspag, PagSeguro, Mundipagg, maxiPago!, MOIP, MercadoPago, allpago, AstroPay, EBANX, Payzen, and iPag.
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