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2Checkout Strengthens Presence in LATAM through Extended Partnership with PagBrasil
Improving conversion and authorization rates across payment models and ordering engines
ATLANTA, GA - November 21, 2019: 2Checkout, the leading all-in-one monetization platform for global businesses, today announced an extended partnership with PagBrasil, a leading fintech company, focused on effective payment processing in Brazil. Expanding upon the success of local payment processing through PagBrasil for the merchant of record (reseller) model, 2Checkout now extends the availability of local payment methods for merchants using the payment service provider (PSP) model.
2Checkout makes it possible for international eCommerce businesses to increase sales and seamlessly enter into the largest online market in Latin America. 2Checkout is now offering local processing of Boleto Bancario, credit cards with installments, Elo Card and HyperCard, for merchants employing the PSP model and targeting the Brazilian market. In addition, merchants employing 2Checkout's newer ordering engines, ConvertPlus and Inline Cart, will also benefit from an enhanced local offering in Brazil, including acceptance of credit cards with installments and Boleto Bancario.
The majority of credit cards in Brazil are limited to national purchases, therefore offering local payment processing in Brazil is a must. In addition, credit cards with installments are extremely popular, representing 75% or more of all credit card payments, according to PagBrasil. 2Checkout's enhanced offering will improve payment authorization rates by at least 20% and will nearly double cart conversion rates, benefitting businesses and customers through an improved checkout experience.
An added benefit of the expanded partnership, 2Checkout now supports Boleto Flash®, PagBrasil's exclusive technology, that authorizes payment confirmation for Boletos, in under one hour. Previously, Boletos took two to three days to be approved by banks and other payment providers. This is a radical innovation and an enormous time saver for Brazil's second most important payment method, which is regulated by the Brazilian Federation of Banks.
"Brazil, with its continental dimensions, is an attractive market for international merchants looking to expand their business. However, the country's particularities when it comes to payments, in addition to regulatory and taxation complexities, hinder market entry," said Ralf Germer, CEO and co-founder at PagBrasil." We have a long-term partnership with 2Checkout and are pleased that we can help them expand their offering for the Brazilian market across their global client base."
"The partnership with PagBrasil enables us to have a strong payment offering in LATAM, and especially Brazil, the largest eCommerce market on the continent," said Geoff Knapp, General Manager of Payments and Support at 2Checkout." 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 localized ordering flows and interfaces, to communication and support, all serviced in a single integration."
Merchants working with 2Checkout can enable additional payment methods for their account through payment method management. More information on this capability in the 2Checkout Knwoledge Center. For an overview of 2Checkout's local processing capabilities, please visit the company's website.
PagBrasil is a leading Brazilian fintech company processing payments in Brazil for multinational e-commerce businesses. With a focus on innovation, it has created the best infrastructure for the Brazilian market. By providing an outstanding service and innovative products, such as Boleto Flash® and PEC Flash®, PagBrasil creates unique value for its clients and their customers. Its comprehensive online payments platform is the result of more than 20 years' experience in the segment and relies on innovative resources, designed specifically for the Brazilian market. Local and international merchants gain access to the most advanced portfolio of products and services, which help them boost their sales immediately.
More information on www.pagbrasil.com