Latin America

Latin America and credit cards

By September 23, 2007 March 3rd, 2008 No Comments

While countries in Latin America do not have the same credit card adoption rates as the US, there still remains a large chunk of opportunity for those who sell in and to Latam consumers. According to LatinFinance, there are approximately 70 million credit cards in Brazil and 17 million in Mexico alone. There is a move int eh region towards EMV cards, which comply with the global standard for payment systems used by Europay, MasterCard and Visa. These cards are known for their enhanced security features like complex encryption algorithms to provide authentication to processing terminals and the transaction processing center.\r\n\r\nWhat does this mean to those of us doing business in Latin America? According to the trade magazine, this will mean that by the end of 2008, about 450 million credit cards will have been issued across the region with EMV chips. The technology that we take for granted here are breaking down the barriers that have made it difficult to sell to consumers in the region.

Danay Escanaverino

Danay Escanaverino

Danay Escanaverino is a Latina entrepreneur, mom, avid traveler, tech geek, history buff, blogger and ADHD poster child She is CEO of LunaSol Media and Founder of #LatinaMeetup . Follow her on Instagram , Facebook, Twitter, and LinkedIn

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