Lorenzo Pellegrino, Chief Operating and Digital Officer Latin America is ripe with opportunities due to its ongoing digital transformation initiatives, opening avenues for businesses to scale their operations, augment sales and boost revenue. However, merchants often grapple with obstacles like payment inflexibility and geographical constraints, impeding their aspirations for cross-border sales growth.
Consider a consumer’s frustration when they reach the payment stage, only to discover that their preferred payment method is not accepted, leaving them to resort to a less desirable alternative. It is no wonder then that an analysis of 48 different studies by the Baymard Institute reveals an average cart abandonment rate of 70 per cent, with limited payment options cited as one of the top reasons.
To tackle these challenges and facilitate business expansion, PayRetailers offers a single integration API that provides access to multiple local payment solutions enabling businesses to accept and process payments from any country in Latin America. This solution empowers businesses to offer an array of payment methods which that include cards, digital wallets, cash and vouchers, all in multiple currencies, ensuring that they cater to the preferences of their customers. Regardless of the industry, PayRetailers supports businesses across various sectors, such as iGaming, e-commerce, travel and tourism, ticketing, SaaS and financial services, effortlessly navigating the complexities of cross-border transactions.
“Our proficiency in navigating local regulations, currency conversions and payment processing enables businesses to augment their customer reach and drive growth in the dynamic Latin American market,” says Lorenzo Pellegrino, chief operating and digital officer of PayRetailers.
The company’s true value lies in its ability to offer global merchants access to more than 250 local Latin American payment options through a single API. The localized payment processing capability of this API on websites or apps enables businesses to provide an intuitive, flexible and modern shopping experience that is adapted to their customer’s local currency and individual preferences based on country.
This degree of customisation escalates customer satisfaction, fostering trust, customer retention, and brand loyalty.
Supplementing its payment options, PayRetailers offers businesses an advanced data analysis system. This system delivers real-time reports, allowing organisations to gain critical insights into their payment activity, transaction volumes across different countries and crucial procedures like payment settlements. Armed with these insights, businesses can make data-driven decisions and enhance their payment processes efficiently.
Aside from its commitment to transaction security and safeguarding businesses against fraudulent activities, PayRetailers employs sophisticated fraud detection systems. These systems utilize advanced algorithms and machine learning to meticulously analyse transaction patterns, identify anomalies and mitigate relevant risks. This approach ensures the highest level of security for transactions and shields businesses from potential threats.
Our proficiency in navigating local regulations, currency conversions and payment processing enables businesses to augment their customer reach and drive growth in the dynamic Latin American market
The driving force behind PayRetailers’ effort to broaden payment options and enhance the overall payment experience is its dedication to satisfying the needs of end customers. The company delivers top-notch customer service with a dedicated, multilingual team available around the clock. Businesses can depend on its personalised service and industry expertise to address any concerns, provide guidance and ensure a smooth payment experience for their customers.
PayRetailers’ business model has received strong validation from its peers and customers, fueling its ambition to exceed its current objectives and future aspirations. With remarkable growth and significant recognition throughout Latin America, the company now has its sights set on implementing ambitious plans, which include expanding into new markets and incorporating groundbreaking technologies into its solutions. Particularly noteworthy is the forthcoming launch of a proprietary wallet, a strategic step that aims to facilitate the company’s expansion into other regions, especially Africa, in a bid to foster financial inclusion in emerging economies.
