The release of Latin America DirectPay follows a successful beta testing period in which participating clients realized significant increases in sales, said Jake Powers, vice president of e-commerce for CCBill.
“Driving additional sales in Latin America can be a challenge as many consumers in the region do not have credit cards. Based on results our beta clients have seen, we are confident Latin America DirectPay can help overcome this challenge, and are excited to be offering it to our client base,” Powers said.
Latin America DirectPay is structured similarly to DirectPayEU, where customers push funds from their bank accounts.
CCBill’s payment processing architecture interfaces with regional banks to issue a unique transaction confirmation number to consumers, which they use to initiate payment and complete the transaction through their online or brick-and-mortar bank account.
CCBill said its Latin America DirectPay supports single-billing transactions for consumers using one of two banks in Mexico, with plans for more banks and countries in the works. CCBill earlier this year said it had sights on Brazil, Columbia, Peru, Argentina and Chile, which account for 89 percent of the total Latin American market.
More than 175 million Latin American homes have Internet access and nearly 300 million Latin Americans have active bank accounts, according to a CCBill study.
“We fully realize our clients have a variety of consumers and markets they want to capture," Powers said. "The flexibility of the Latin America billing solution lets them decide how to use it to best meet their individual needs, much like our other value-add billing services."