Latin America – It’s Game On!

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.