Paytech Allpago powers on to Chile
Allpago, a payment service provider (PSP) in Latin America, has expanded its coverage to Chile, enabling international merchants and institutional payment providers to accept Chilean local cards and alternative payment methods.
Chile getting Allpago payments
Philipp Bock, founder and CEO of Allpago, comments: “Conversion and acceptance rates increase dramatically when merchants start offering local payments and a seamless payment experience.”
Allpago says it can provide up to a 53% increase in authorisation rates and revenues from initial payments made by people in the country and up to a 23% boost in revenue from recurring transactions.
The firm provides two-factor payment authentication as well as a dynamic descriptor to reduce chargebacks by enabling merchants to provide “precise” payment details on credit card and bank statements.
Allpago users have access to 90% of Latin America’s 150 million online shoppers through a single platform and API, according to the firm.
Chile’s central bank introduced regulation for alternative payment facilitators in 2017, and the firm says this kickstarted the implementation of Allpago’s tech in the country.
Chile is the fifth country in Latin America to be covered by Allpago’s payment platform, following Brazil, Argentina, Mexico, and Colombia.
