Time for infrastructure to evolve for modern consumers

The surge in cardless and contactless payments is undeniable. As more consumers embrace the convenience of tapping their phones or using mobile wallets, businesses across Latin America are adapting to meet these demands.

By 2028, an estimated 61.1 million smartphones will be equipped with software point-of-sale (SoftPOS) capabilities, allowing for seamless and secure transactions without the need for traditional card readers.¹ This shift towards digital and contactless payments is not just a trend; it's an expectation. In countries like Chile, Peru, and Paraguay, contactless payment penetration is projected to exceed 90% by 2025.²

For acquirers, this rapid adoption presents a unique set of challenges. Navigating the trifecta of connectivity, complexity, and profitability requires a modern payment infrastructure that can adapt and thrive in this dynamic environment.

Diverse shopping preferences, evolving payment methods, and stringent regulatory requirements demand a seamless and secure payment experience across multiple channels. To keep pace with rapid innovation, businesses must integrate advanced connectivity solutions.

Imagine a bustling marketplace where every transaction, whether in-person or online, flows smoothly without interruption. This vision can only be realized with robust and reliable connectivity that ensures every payment is processed efficiently and securely.

As the payments ecosystem becomes increasingly complex, market agents must integrate solutions that offer fast, convenient, and frictionless payment options. Legacy systems often pose significant obstacles, making it difficult to implement new solutions with speed and at scale.

The key to overcoming this complexity lies in adaptability. Businesses need solutions that can evolve with the market, ensuring they can offer cutting-edge payment options that meet consumer expectations both now and in the future.

As new trends emerge, so must new solutions. To keep pace, acquirers in LAC are looking for modern, modular systems that help them address their merchant portfolio’s most pressing challenges, from evolving compliance mandates to the acceleration of eCommerce.

These systems offer the flexibility to plug-in new capabilities without overhauling existing infrastructure, helping acquirers manage credential updates, reduce fraud risk, increase approval rates, enable faster market entry, and support tokenization and authentication requirements across digital and in-person channels.

In the quest for profitability, acquirers and technology partners must deliver solutions efficiently, reducing costs and enhancing overall profitability. The global digital transaction value is projected to reach a staggering $16.5 trillion by 2028,³ presenting immense opportunities for those who can capitalize on this growth.

By harnessing modern payment infrastructure, businesses can streamline operations, reduce overheads, and unlock new revenue streams. This not only boosts profitability but also positions them as leaders in the market, ready to seize emerging opportunities.

The Visa Acceptance Platform is designed to empower businesses by simplifying, securing, and scaling global commerce. It enhances interconnectivity across global partners and payment service providers (PSPs), offering a comprehensive API management solution that acts as a one-stop shop for API availability. This enables developers to efficiently leverage Visa APIs, accelerating collaboration and innovation in the B2B and B2C spaces.

The Visa Acceptance Platform features modular services that provide on-demand access to Visa solutions and pre-integrated connectivity to a broad ecosystem of PSPs and partners. This flexibility allows acquirers to stay ahead of market changes, quickly onboard and activate merchant payments, and differentiate themselves through effective merchant application, validation, and underwriting practices.

Key benefits of the platform:

• Increased profitability: Improved connectivity, customer retention, and new ISV/plug-in options.
• Enhanced customer experience: Differentiation, speed to market, and customer satisfaction.
• Growth and scalability: New partnerships, collaboration, inclusivity of payments, and expansion into new markets and verticals.
• Modular: Flexible systems that help streamline operations, minimize integration costs, and unlock growth opportunities across markets.
   

The future of commerce in Latin America is bright, but it requires infrastructure that can evolve to meet the demands of modern consumers. By connecting to the Visa Acceptance Platform, acquirers can offer the seamless, secure, and innovative payment experiences that today’s consumers crave. This connectivity aims not only to improve customer satisfaction but also drives profitability and growth, unlocking new opportunities in untapped markets.

With new acquirers challenging the competition, it’s more important than ever for your technology to keep pace. Reach out to our team for a consultation and let’s talk about how we can prepare your infrastructure for tomorrow’s challenges, today.