UK-based payment service provider emerchantpay has announced the launch of its payment services in eight countries across the Latin America region.
The firm said it will now offer local payments acceptance for cross-border merchants and its partners in Brazil, Chile, Argentina, Mexico, Colombia, Paraguay, Uruguay, and Peru.
These include acceptance of local payment options such as PIX, Elo, Boleto Bancario, and Hipercard, as well as international payment methods such as Visa, Amex, and Mastercard.
According to emerchantpay, the move will enable international business to expand into these countries without the need for setting up a local presence.
The firm said that the payments, which will be processed in the local currency, can be settled cross-border in local currency as well as in international currencies, including USD, EUR, and GBP.
The service will serve business across various industries, such as travel, online retail, financial services and digital goods.
emerchantpay International Business Development vice-president Andre Boesing said: “Having the flexibility to expand efficiently into this sought-after region with substantial eCommerce potential is critical for every organisation’s success in today’s economy.
“Launching our local proposition in Latin America offers further value-adding capabilities for customers and partners looking to tap into this region. We’re looking forward to enabling cross-border businesses to leverage our comprehensive payments solution and our many years of expertise in the local payment landscape.”
Recently, payment firms have been strengthening their focus on Latin America.
Last month, UK-based payments platform Paysafe strengthened its foothold in Latin America with the completion of its previously announced acquisition of SafetyPay.
In January, Canadian payments firm Nuvei introduced a new capability enhancement to enable international merchants to accept local payment methods in 10 Latin American countries.