The initiative will allow consumers in Mexico, Chile, Peru, and Colombia to buy online from merchants around the world via EBANX even if they do not have credit cards or a bank account.
Latin America is the world’s fastest growing ecommerce market with projected total online sales of USD 70 billion in 2016 and Brazil accounting for 50% of this. Mexico is the second largest ecommerce market with an annual compounded growth rate of 25%.
In 2013, Latin America had the largest growth in online shoppers, now totaling 147 million.
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