The way in which people use their money definitely changed. According to data by The World Bank, by 2021 76% of adults around the world had a bank account, which represented an increase compared to the 68% registered in 2017.
In this sense, the pandemic contributed to the evolution of payment methods, where paying with cash is less frequent. In fact, two thirds of the adults in the world currently accept online payments, while developing economies increased 57% in 2021 compared to 35% in 2014.
The need for digital tools is expanding and so are the solutions that offer. The use of credit cards is a financing method in which Latin America stands out, where their use is higher than in other continents as Europe. Based on the 2022 Tendencies in Payment Methods report made by Minsait Payments, the e-commerce in Latin America has multiplied by almost seven in the last decade. Regarding debit card use, Mexico and Peru stand out globally.
Looking for innovative solutions and the optimization of resources has become more essential, since the constant growth of the digital market demands for the integration of digital tools, where Flow Pagos enables a smooth transition from traditional to digital payment methods.
What does Flow Pagos stand out for?
As e-commerce in Latin America is key, we focus on:
- Digital security, everything is safely integrated in a platform where your information and money are secured under the highest standards in the market.
- Expansion, where we increase different payment methods and integrate traditional and digital payment methods to the main e-commerce in the country.
- Innovation in the collection and revenue process.
In a context of great market development, Flow Pagos allows you the integration to a market that is expanding more and more. We go with you in the development of new markets, technologies and expansion in Latin America and the world.