Initially rolled out last fall, clients that have been beta-testing the program realized up to a 10 percent increase in sales, CCBill said.
Latin America DirectPay is structured similarly to DirectPayEU, where customers “push” funds from their bank accounts.
“Cash is the main form of payment for many in these markets,” said Jake Powers, vice president of ecommerce for CCBill. “With our Latin America DirectPay service, consumers can purchase online goods from our clients in a method they are comfortable using. Not only does this result in more sales, but overall risk is reduced, since funds will have to be in the account for transactions to go through.”
CCBill’s payment processing architecture will interface with regional banks to conduct Latin American transactions. When making a purchase, consumers will receive a unique transaction confirmation number. After either signing in to their secure online bank account page or visiting their local bank branch, consumers initiate their payment and enter their confirmation number, in order to complete the transaction.
While Latin America DirectPay will initially be released for Mexico, additional countries throughout the region will follow, including Brazil, Columbia, Peru, Argentina and Chile, offering access to more than 89 percent of the total Latin American market.
“We’re starting with Mexico but we’re not stopping there,” Powers said. “There are a lot of consumers in Latin America spread across a large geographic area, and we want to help our clients reach them.”
According to CCBill, more than 175 million Latin American homes have Internet access and nearly 300 million Latin Americans have active bank accounts.
Currently exclusive to CCBill, Latin America DirectPay is now available in beta for CCBill clients.
For more information, visit CCBill.com/beta/.