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As Latin American countries continue to embrace online payments and e-Commerce, one country in particular stands out as a frontrunner.
Colombia is setting the pace as regards the acceptance of online payments and e-Commerce, within a region where total business to consumer sales is estimated to reach $88bn this year.
Many Colombian consumers now prefer to buy goods via the internet. As for what Colombians are buying most online, airline tickets and hotel reservations come top, with retail goods, service and coupons next. Paying by credit card was the most popular way to complete a purchase, followed by debit cards. Next came banks and then cash payments at authorised points.
What’s more, in 2014 the highest average purchase price was $179 which hits a peak on Wednesday’s, even though the highest sales are occurring on a Sunday. The cities which make the most amount of purchases are Bogotá, Medellin and Cali. Biggest internet days include Cyberlunes in May and Black Friday Hot Sales in April and November.
Also, in terms of the typical Colombian internet user profile, 50.2% are women and 49.8% are men. When it comes to retail shopping, the figures changes to 52% of men and 48% women. And when buying trips, it’s women at 51%.
allpago international is the leading payment provider for the LATAM region. allpago provides the most relevant local payment methods through one API and one single platform. Allpago offers the best conversion rates ensuring state-of-the-art technology and legal advice necessary for a successful e-Commerce operation in Latin America.
allpago enables start-ups to Fortune 500 companies to offer the necessary local payment methods in the Latin American market, which account for around 80% of their revenues. Current clients include Art.com, Getty Images, Intel Security McAfee, Norton Symantec, Paylogic, Sumup, Teamviewer and many other leading payment and digital companies.
Image courtesy of ratch0013 at FreeDigitalPhotos.net
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