allpago, a Latin America-focussed payment service provider that enables e-commerce merchants and payment providers to accept all local payment methods through a single platform and API, has expanded its reach to Chile.
The expansion allows merchants and institutional payment providers worldwide to accept Chilean local cards and alternative payment methods.
For organisations utilising its platform in the country, the firm anticipates up to 53% surge in authorisation rates and revenues from initial payments and up to 23% growth in revenue from recurring transactions.
The firm offers two-factor payment authentication alongside a dynamic descriptor to lower chargebacks.
Commenting on the expansion, allpago founder and CEO Philipp Bock said: “Launching our service here enables merchants and institutional payment providers around the world to transact seamlessly and in real time with Chilean customers using all local cards and other preferred payment methods.
“Conversion and acceptance rates increase dramatically when merchants start offering local payments and a seamless payment experience.”
The central bank of Chile launched regulation for alternative payment facilitators in 2017.
allpago is said to be the first payment service provider to provide a real-time payment processing service for one-click and recurring transactions in the country since that time.
Apart from Chile, Allpago also caters to users in Brazil, Argentina, Mexico, as well as Colombia.