PrimeiroPay, Cybersource partner to expand access to Latin America

By Sunniva Kolostyak

Cross-border online payment provider PrimeiroPay has partnered with Visa’s payment management platform Cybersource to deliver expanded solutions to Latin American markets.

By partnering with Cybersource, PrimeiroPay will be able to offer its merchants access complex markets with connections to acquirers and alternative payment methods, alongside streamlined operations.

Consumers will get access to a fully local payment experience in high-growth markets including Mexico, Colombia, Peru, Chile and Argentina.

PrimeiroPay provides e payments and financial solutions for merchants who want to expand their online businesses into Latin America, combining technology with a deep understanding of the payment and regulatory landscape in the markets.

According to Tim Werner, Founder and Managing Director at PrimeiroPay, the partnership reflects the Luxemburg-based FinTech’s continued efforts to scale its platform and bring improved reliability, increased stability and uptime.

“Combined with Cybersource’s innovative technology, our new solution helps increase merchant acceptance rates, creates redundancy, and allows for easier and quicker integration with international banking and acquiring partners across the region, every time our clients decide to launch a new market with us.”

Werner added: “Latin America represents a high-potential revenue stream to merchants worldwide that many times remains untapped because of the complexity of opening local entities in such diverse countries. We eliminate this hassle. Combining PrimeiroPay’s financial and regulatory expertise with Cybersource’s groundbreaking technology, our clients benefit from an income that they wouldn’t otherwise uncover.”

Cybersource, a Visa payment management platform, also helps PrimeiroPay minimise foreign exchange fluctuation risk.

Christian Deger, Head of Europe at Cybersource, commented: “We are delighted to team up with PrimeiroPay, supporting their business goals in opening up new markets for their merchants in Latin America through our strong global network of acquirers. This is another example of how we are providing our growing ecosystem of payments partners access to Cybersource’s innovative and robust payment management platform, to help deliver flexible, creative commerce solutions to their merchants in today’s digital-first world.”