Payments supplier AstroPay will expand its links across Latin America; launching in Peru, Chile, Mexico and Colombia for small and medium-sized enterprises (SMEs).
The move takes AstroPay one step closer to its goal of introducing payment links worldwide, having first launched in Brazil in December 2021.
AstroPay’s payment links work by enabling business owners to collect online payments via links shared with customers, or through a mobile phone number. The company claims enterprises are paid easily and securely, with customers able to pay in either their local currency or US dollars.
According to AstroPay, Latin America represents a priority market, with SMEs growing by nearly 11% between 2020 and 2021. The company cites that an additional 29,249 small and medium enterprises came into existence across Latin America during 2021.
AstroPay also notes that SMEs account for 99% of total businesses in both Mexico and Peru; the company claims the SME market in Latin America is, therefore, a crucial market of expansion.
Mikael Lijtenstein, AstroPay CEO, said: “Many micro and small businesses could not reach the volume threshold required to make accepting credit card payments financial feasibility, so they need online payment options that not only open up a world of new revenue streams and opportunities but make it possible to compete with the big companies. Payment Links are cost-effective and offer flexibility and ease of operations for these businesses.
“With AstroPay’s Payment Links capability, micro and small business owners can offer their customers a quick, easy, and convenient way to pay, and it’s affordable to accept payments.”