New research highlights economic optimism and confidence in eCommerce growth as 82% of Brazilian consumers believe most purchases will be made online in next five years.
São Paulo, July 18th 2017 – Worldpay, a global leader in payments has partnered with Banco Rendimento to launch domestic acquiring services in Brazil. The collaboration will allow both companies to process customers’ payments and marks an important stage in the Brazilian market – in light of the growth in eCommerce across the country.
Worldpay opted to partner with Banco Rendimento due to their 25 years of experience in payments solutions and foreign exchange in the Brazilian market, and its ability to be both innovative and agile. Worldpay already offers acquiring services across 50 countries and by teaming up with Banco Rendimento the company will be able to acquire Brazilian merchants domestically.
The partnership sees Worldpay and Banco Rendimento as one of the first to offer an end-to-end payments solution for online merchants in Brazil with credit and debit card payment acquiring, factoring and multi-currency settlement. The deal also makes it easier for international merchants to accept online payments across multiple markets, providing access to over 300 payment methods, processing in 126 currencies, and anti-fraud screening all via Worldpay’s online payments platform.
In parallel to this news, Worldpay has conducted consumer research of 3,217 respondents in Brazil to understand the current level of consumer confidence and patriotism after the recent economic crisis. According to the research, 82% of Brazilian consumers surveyed believe that most purchases will be made online in the next five years, with three-quarters (75%) currently buying their household products online1. Those shopping for groceries online tend to do so with the greatest frequency, with the average shopper surveyed clocking up an average of 22 online shops per year2.
Due to increasing smartphone adoption and improved infrastructure, retail eCommerce in Brazil is expected to continue its double-digit growth over the next two years3. In a further sign of increased demand for online shopping in the region, Worldpay’s study also showed that younger consumers, between the ages of 18 to 34 are the most likely to shop using a smartphone app (56%), compared to only 22% of consumers aged over 554.
The travel industry is a leader in online payments. Despite the economic crisis having had a direct impact on recent traveler numbers, the research found that 49% of Brazilians surveyed believe they will have more opportunity to travel for leisure in the next 12 months as the economy recovers. The study found Brazilians are used to doing, on average, three trips per year for work and the same for leisure5.
1Online survey of 3,217 Brazilian consumers, conducted by research house Opinium in June 2017.
2Online survey of 3,217 Brazilian consumers, conducted by research house Opinium in June 2017.
4Online survey of 3,217 Brazilian consumers, conducted by research house Opinium in June 2017.
5Online survey of 3,217 Brazilian consumers, conducted by research house Opinium in June 2017.
Juan D’Antiochia, General Manager for Latin America at Worldpay said: “As the eighth largest eCommerce market in the world , Brazil is attracting an increasing number of businesses who are looking to tap into the tremendous growth opportunity. We are pleased to partner with Banco Rendimento to expand our services, offering a flexible payment solution that can help merchants drive up conversion rates and reduce the cost of running an online business across multiple markets. We want to help merchants take their business to the next level, and that starts by paying attention to the way consumers want to pay.”
Roger Ades, Head of Product Development and Innovation at Banco Rendimento confirmed: “We are delighted to offer eCommerce acquiring services in Brazil in collaboration with Worldpay. We are confident that our partnership will help both organisations to contribute to the scale of the ever-growing Brazilian eCommerce industry. This will allow merchants to benefit from our combined expertise in domestic and international payments, thereby helping to promote online payments and cross-border services in Brazil.”
As part of the expansion in the region, Worldpay also intends to launch its license in Argentina later this year.
¹ Sobre a pesquisa sobre o potencial do eCommerce brasileiro realizado pela Worldpay
A pesquisa entrevistou 3.217 brasileiros maiores de 18 anos, sendo 2.713 que compram serviços e produtos on-line; 2.000 que reservam viagens ou férias online; 2.360 que compram conteúdo digital entre 1º e 6 de junho de 2017.
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types. For more information, visit http://www.worldpay.com/global
About Banco Rendimento
Founded in 1992, Banco Rendimento is one of the most active banks on the Brazilian foreign exchange market. The financial institution holds its attention to credit solutions and services to small and medium sized companies, payment methods, prepaid card issuance, financial exchange and tourism operations, international financial transactions and also has a large expertise in payment solutions, issuance and acquirement of ATMs. For more information visit: http://rendimento.com.br
For more information, please contact:
Emily Lahey, PR Director
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+55 11 3027-0200
+55 11 3027-0252