Latin America – It’s Game On!

02 / 03 / 2023

Expand your digital entertainment business in Latin America with streamlined, compliant local payment processing

2 min.

daughter and father playing video games

The Latin American Gaming Landscape – a marketplace full of opportunity

With a population of more than 650 million across the region and an e-commerce market greater than $290 billion, Latin America is currently expected to enjoy year-on-year growth of 30% between 2022 and 2025. In addition, Latin America is among the fastest-growing regions in the world for gamer revenues. According to Newzoo, there are 146 million paying gamers in the top nine Latin American countries.

Source: Newzoo Global Games Market Report, 2021

All that glitters is not (necessarily) gold

Despite these enticing figures, for those gaming companies looking to exploit this seeming “El Dorado”, it is not necessarily all plain sailing. If you want to accept payments from Latin America, there are clearly a number of serious challenges from a payments perspective that need to be identified and addressed in order to capitalize fully from such a market opportunity.

Paradise Found + Challenges Resolved

From our in-depth understanding of Latin American payments, we have found the payment landscape to be fragmented and complex with a bewildering array of local payment methods that vary from country to country. Only one in three consumers owns a credit card, cards are often just for domestic use. On top of this there are many local payment methods and preferences like paying in instalments and with cash-based payment methods. Therefore, for any gaming company to expand into Latin America, it is vital to understand the importance of enabling local payment methods in addition to the international credit card networks. Finally, a local entity is sometimes required among other rules and regulations to settle transactions in multiple currencies.

Worldline has been helping online merchants prosper in Latin America for more than 20 years. Our online cross-border payment solution suite can give you access to these vibrant markets and make your Latin American expansion a profitable and satisfying venture. Worldline has the proven expertise and experience to help you, as a merchant, to facilitate the entire payment process required by Latin American gamers and media consumers.

Here are the most pressing issues that you should consider and how Worldline can help you to transact business ‘like a local’.

Further functionality that merchants should consider when selecting their optimal payments business partner across Latin America includes a need to keep things simple, streamlined, and reliable. With a single API integration Worldline is again well placed to deliver, together with its local acquiring expertise helping to drive approval rates.

As with so many marketplaces around the globe individual characteristics, challenges and opportunities abound. It is imperative that any merchant business wishing to succeed in Latin America needs to be acutely aware of these issues and would be well advised to engage the partner best placed to advise, support and deliver to meet your unique requirements.

Antonio Paradell

R&D Manager, Worldline Iberia
Toni Paradell has been working for Worldline since 2014. He is R&D Manager at the Mobile Competence Center of Worldline Iberia, where he is responsible for research and innovation initiatives, and coordinator of collaborative EU R&D projects.