AstroPay, a financial technology company specializing in payment solutions, is increasing its presence in Latin America. Small and mid-sized enterprises in Peru, Chile, Mexico, and Colombia will now be able to utilize AstroPay’s offerings.
The firm initially introduced its payment gateway services in Brazil in 2021 with the aim of linking businesses to consumers worldwide. Expanding into these Latin American markets represents significant progress toward that objective.
AstroPay provides business owners with multiple methods for accepting online payments. Consumers can make payments through links provided by the business or simply by entering their mobile phone number. AstroPay simplifies secure payment acceptance for businesses, while customers enjoy the convenience of paying in their local currency or US dollars.
AstroPay identifies Latin America as a crucial market, particularly due to the region’s swift growth in small and mid-sized enterprises. From 2020 to 2021, the quantity of these businesses rose by almost 11%, with close to 30,000 new ventures emerging in 2021 alone. In Mexico and Peru, an overwhelming 99% of businesses fall under the small or mid-sized category.
Mikael Lijtenstein, Chief Executive Officer of AstroPay, emphasized the obstacles these businesses encounter: “Numerous micro and small enterprises struggle to achieve the transaction volume necessary to make accepting credit card payments economically feasible, necessitating online payment alternatives that not only unlock a realm of fresh revenue streams and prospects but also enable them to contend with larger corporations.”
Transaction portals are revolutionizing commerce, providing companies with a cost-effective and adaptable method for handling payments.
AstroPay’s portal solution is ideal for startups and sole proprietors seeking to offer their clientele a seamless and budget-friendly payment process.
