During the last two years, e-commerce has significantly grown more importantly in Latin America, which is the second region with more opportunities in this area, following Southeast Asia. Aware of this, Flow is giving important steps in the region.
Experts state that nations as Southeast Asia and Latin America will rank among the countries with the highest e-commerce incomes. Furthermore, they argue that regarding the latter, the electronic commerce should show an annual growth of 35% until 2025.
Some of the factors that explain this phenomenon are the rise of connectivity, the promise of banking the population, and the “mobile commerce” generalization through social media and online shopping apps.
Also, the expansion of payment solutions through the internet and the emergence of new payment methods that have boosted digital-financial inclusion have been key in this scenario.
The countries that lead electronic commerce in Latin America so far are Brazil, Mexico, Argentina, Chile, Colombia, among others.
According to the “Global Ecommerce Forecast 2022” report, made by eMarketer | Insider Intelligence electronic commerce would grow 22,2% this year in Brazil, while in Mexico would be around 18% and in Argentina 18,6%.
It is precisely this promising scenario that has taken online payment platforms as Flow to expand beyond borders. In 2021, the company started an international expanding plan that allowed them to start operating in Mexico in the middle of last year and also in Peru during this year.
Flow obtained solid outcomes in Chile, which enabled the company to give this step and further ones. Some of the upcoming plans involve landing in Brazil and then Colombia.
It’s worth mentioning that the most used payment systems in Latin America are domestic and international credit cards, debit cards, e-wallets, online payments based on cash and bank transfer.
In that respect, Luis Alcayaga comments, “At Flow, we strive for guaranteeing the greatest capillarity and granularity of payment methods that exist so our clients and their clients can pay with the method they prefer, securing the highest conversion possible.”
He adds that the company works under three verticals: their platform that aims to be the most robust and complete payment gateway; the availability of a suite of revenue and collection solutions that manages omnichannel; and their online monitor that registers all the transactions, informing the client from the moment they are created to the moment the payment is deposited in their checking account.