Payment processing solution provider 2Checkout has further extended its alliance with PagBrasil, a fintech firm that offers payment processing in Brazil.

The partnership will enable 2Checkout to leverage the payment service provider (PSP) model and extend the availability of local payment alternatives for traders.

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2Checkout is now locally processing credit cards with instalments, Boleto Bancario, Elo Card and HyperCard, for merchants who are using the PSP model and serving the Brazilian market.

Additionally, the merchants who are using 2Checkout’s latest ordering engines, ConvertPlus and Inline Cart, can locally accept payment with Boleto Bancario and credit cards with instalments.

2Checkout believes that the improved offering will boost payment authorisation rates by nearly 20% while also doubling cart conversion rates.

Furthermore, 2Checkout is supporting PagBrasil’s Boleto Flash that approves payment confirmation for Boletos in less than one hour compared to earlier two to three days.

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2Checkout general manager of payments and support Geoff Knapp stated: “The partnership with PagBrasil enables us to have a strong payment offering in LATAM, and especially Brazil, the largest eCommerce market on the continent.

“We are delighted to be able to extend our Brazil capabilities across our packages.  We are simplifying entry into local markets, for companies of all sizes, with extensive payment method coverage as well as customer engagement – from localised ordering flows and interfaces, to communication and support, all serviced in a single integration.”

Via payment method management, the merchants working with 2Checkout will be able to add other payment methods to their account.