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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/04\/fintech-liquido-stripe-of-latam-payments\/<\/a><\/br> The ability to offer businesses more ways to accept digital payments is crucial globally, but merchants\u2019 specific needs typically differ based on geography.<\/span><\/p>\n In recognition of those nuances, <\/span>Liquido<\/span><\/a> has for two years been working on building payments infrastructure aimed at modernizing payments access for businesses in Latin America. And today, the company is emerging from stealth to offer what it describes as core payment services that \u201cserve a wide range of needs and customer preferences\u2026.through one unified and integrated API.\u201d\u00a0<\/span><\/p>\n Interestingly, while many companies in the U.S. may start out serving clients in their home country and later expand to LatAm, Mountain View, California-based Liquido started out specifically to serve the LatAm market. So far, it\u2019s processed more than $300 million in payments through a closed beta with several consumer brands in the region <\/span>(<\/span>$20 million of that was processed in the first two quarters of 2022)<\/span>, <\/span>and now says it\u2019s ready to open access to cross border and local merchants across Latin America.<\/span><\/p>\n Digital payment via credit cards is very common in the U.S., but in LatAm, where an estimated 28% even have credit cards, it is far less so. And even among those who do use credit cards, fraud is quite prevalent. Yet, the <\/span>transaction value of digital commerce in Latin America was estimated at more than $100 billion in 2019 and is now expected to increase by about 73% by 2025, according to <\/span>Statista<\/span><\/a>. In a nutshell, Liquido wants to make it easier for people to buy things online. With Liquido, the startup touts that businesses can accept and process \u201call forms of payment\u201d \u2014 from credit and debit cards to bank transfers to digital wallets, and even cash \u2014 in order to increase payment acceptance rates.\u00a0<\/span><\/p>\n \u201cBetween my work at Uber and DiDi, I spent several years devoted to the LatAm market, and I was struck by the prevalence of cash payments for rides,\u201d said Shanxiang Qi, Liquido co-founder and CTO. \u201cThis observation led me to conclude that even the middle and upper echelons of society in the region lacked convenient access to digital payments, which ultimately limited options for business.\u201d<\/span><\/p>\n Qi teamed up with MK Li,\u00a0 a former VC who began his career as a product manager at Google and Microsoft.<\/span><\/p>\n The pair say with Liquido, they are building in LatAm something \u201csimilar to what Stripe has built in the U.S.\u201d but also <\/span>expanding beyond traditional payments into extended payment services.<\/p>\n \u201cA company like Stripe or dLocal could work right now for the market but doesn\u2019t quite provide the same level of seamless experience as they could do in Europe and the U.S.,\u201d he told TechCrunch in an interview. \u201cTheir infrastructure is quite different. And also there are a lot of silos of different channels of payment. And, the users also have different preferences about payments as well as risk profiles. The fraud profile in the local market is drastically different.\u201d<\/span><\/p>\n To help remedy fraud, Liquido says it has built something called a \u201cPayment Success Booster,\u201d which does things like perform customizable fraud flagging and transaction blocking, WhatsApp payment recovery, flexible payment method switching and smart routing and retrying.<\/span><\/p>\n The company says it has also built a P<\/span>ayment Plus Platform (PPP), which runs on top of its core payment services and is designed to \u201ccreate customer experiences tailored to local markets and grow within verticals.\u201d The company has now introduced the<\/span> first offering for its PPP, something it calls the \u201cWhatsApp Liquido-Store.\u201d It allows merchants to create \u201ca mini Shopify-like storefront within WhatsApp\u201d without any coding knowledge required, they say, giving customers a way to browse, find and buy from merchants through WhatsApp, which is by far the most used social network in Latin America.<\/span><\/p>\n
\nMeet Liquido, which aims to be the \u2018Stripe of LatAm\u2019 \u2014 but with even bigger ambitions<\/br>
\n2023-05-04 22:12:26<\/br><\/p>\n