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Avangate Acquires 2Checkout to Expand Payment Flexibility and Broaden Market Reach
Combined company will bring a unique combination of eCommerce and subscription management solutions to market through various payment models across the globe.
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Tapping Emerging Markets
Avangate Enables Online Companies To Expand Their Reach In The Fast Growing Latin American Market
Digital Commerce Provider Announces Support for Brazil Growth and Strategic Partnerships
Redwood Shores, CA - March 5, 2014 - Avangate, the leading Digital Commerce solution provider trusted by thousands of Software and Online Services companies to grow their business worldwide, today announced that it is boosting its presence in Latin America, with Brazil leading this market push. Following the implementation of localized ordering capabilities including payment methods, Avangate is looking to strengthen its market presence through additional strategic partnerships with payments providers and local distribution and marketing services.
"Brazil is clearly one of the most attractive emerging markets and one that is increasingly courted by software and SaaS vendors and online services in general. At the same time, local payment methods and partners are vastly preferred by the Brazilian buyers, even for digital goods, which makes our steps forward towards developing local partnerships even more natural," said Joseph G. Brown, SVP, Worldwide Sales at Avangate. "We are committed to helping our clients tap into new markets and supporting them in their customer acquisition and retention initiatives for long-term profitability".
According to eMarketer, "Brazil will have 107.7 million internet users in 2014, 37.7% of whom will make a digital purchase. This represents a market of 32.9 million consumers buying via digital channels and amounts to 36.4% of all digital buyers in Latin America".
Ralf Germer, CEO 4M: "Brazil is probably the largest underestimated e-commerce opportunity in the world. Although not an easy market for foreign companies to enter, building on the right partnerships can lead to rapid success. Avangate, in collaboration with 4M Iberoamérica, currently offers the best local Commerce solution for software and services companies selling into Brazil!"
With the addition of domestic Brazilian cards with and without installments, Avangate clients have seen their conversion and authorization rates skyrocket by more than 300% compared to the internationally accepted cards, alongside a steady usage of the popular offline method boleto bancario.
"At Wondershare we've seen a strong growth in Brazil and Avangate is a partner that helps us reach that market not only on the distribution side via local partners, but also providing local payment methods which make a huge difference, especially compared to other emerging markets", noted Ivan Guo, Business Manager at Wondershare.
Avangate offers a broad range of Commerce capabilities enabling merchants to manage their global online and offline business requirements. It offers localized purchasing options in numerous countries, with 31 languages, 38 payment methods as well as advanced subscription capabilities, equipping vendors to easily target local markets such as Brazil.
All payment methods offered via Avangate are seamlessly integrated into the Avangate Digital Commerce Platform and easily activated, with no additional work necessary on the vendor's side.
To learn more about how Avangate can grow your software and online services sales, read an overview of the Avangate commerce solutions.