Significant e-commerce opportunities in the fastest-growing market in Latin America
17.8 million online shoppers set the trend towards successful e-commerce potential in Argentina
Similar to other emerging markets, Argentina is subject to low credit card penetration and hosts a substantially large unbanked population. Intriguingly though, in terms of e-commerce purchases, credit cards are a typical mode of transacting. Of all online transactions, 77% are made using credit cards, however, only 21% of these cards are enabled internationally. Such value for credit cards stems largely from convenience offered through payments in instalments. Instalment options make up 65% of all credit card transactions, and PayU permits merchants an avenue to access the prevailing local card schemes, such as Tarjeta Naranja effortlessly.
In addition to credit cards, direct debit from customer’s bank account is gaining popularity, especially amongst millennials, acting as a prominent driver for online purchases. Another highly powerful payment method for e-commerce in Argentina is cash, an online payment solution offered by local brands such as Rapipago and Pago Fácil, enables customers to pay for their online purchases at thousands of locations country-wide. To pay via Rapipago or Pago Fácil, the customer simply prints out a receipt when purchasing online and then pays cash, in local currency, at one of the 24,000 delegated payment points that accept such payments.
Bearing the most internet penetrated population in the region, along with financial inclusion priorities, Argentina is observing pivotal changes and is headed toward maturity. Through 14 years of refined experience, PayU has a preeminent footprint in Argentina’s expanding market, recognises the existing challenges and cooperates with local banks to gain status as a widely trusted brand
Having a local entity is not always required, talk to us to find out more.
Payment Methods Available in Argentina With PayU
Credit and Debit Cards