Worldpay Brings Domestic Acquiring Capabilities to Colombia
Payments tech firm Worldpay says it now offers domestic acquiring capabilities in Colombia.
It’s part of an ongoing expansion into Latin America, with Worldpay supporting some of the largest merchants in Argentina, Brazil and Mexico, the Cincinnati-based company said in a Wednesday (May 21) news release.
“Our vision to unleash the potential of every business means breaking down barriers for global merchants while enabling access to the rest of the world for local players, which is why extending our presence in countries like Colombia is a key focus for us,” said Gabriel de Montessus, group president of global enterprise at Worldpay.
“Colombia has one of the fastest-growing eCommerce markets in Latin America,” he added. “It presents significant opportunities for local businesses to expand, as well as for international brands to serve Colombian consumers.”
Among the company’s solutions for this market are eCommerce payments technology, fraud protection, 3D secure and secure customer authentication, the release added.
Worldpay’s expansion efforts are happening amid a boom in digital payments in Latin America. As covered here recently, central banks and private platforms across the region are racing to scale up infrastructure to handle increasing demand for real-time, mobile-native payments.
“This realignment is also creating pressure for acquirers and payment processors to adapt or consolidate. Those unable to integrate with faster payment rails risk irrelevance in a region where real-time, mobile-first payments are becoming the norm,” PYMNTS wrote.
“The implications go beyond consumer spending. Digital payments are becoming embedded in the economic fabric — from B2B invoicing and gig worker payouts to cross-border eCommerce and digital tax compliance.”
Meanwhile, PYMNTS spoke late last month with John Winstel, vice president of product management at Worldpay, in an interview for the series “What’s Next in Payments: The Changing Service Economy.”
“When we think of optimization, we think of it in four pillars, starting with the consumer optimization,” he said. “… Then cost optimization and conversion optimization. … And the last one’s risk optimization.”
These services, the report noted, are becoming the cornerstone of long-term differentiation, an approach that reflects a larger industry trend. As merchants seek more value from their payments partners, processors are complying by offering advanced analytics, fraud tools and seamless user experiences.
“Some of these types of solutions were offered by the card schemes in the past,” Winstel said. “But we also see ourselves as being a distribution partner for some of those products.”
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