The e-learning market is rapidly developing along with the technological solutions that give access to education irrespective of time and distance between teachers and students. Easy and agile payment processing is fundamental for both and with PayRetailers, this is possible to achieve.
The digital environment is substantially impacting access to education in Latin America. New technological tools not only enable wider access to education, but also the agility and simplicity of paying for courses, workshops and diplomas over long distances and through local currencies.
In line with the growing adoption and development of e-learning in the region, it’s estimated that 38% of Latin American companies already use e-learning for the training and updating of their personnel. Mexico and Brazil lead the way with 41% penetration, followed by Argentina with 39%, and Colombia and Chile with 30%.
Thanks to the automatic currency conversions that payment processors such as PayRetailers bring to the Latin American market, the convergence of education and payment technologies is fostering an emerging digital learning economy that doesn’t discriminate by location or currency.
PayRetailers contributes to financial and educational inclusion in LATAM
Today, more and more people have the opportunity to access and benefit from the positive impact of the e-learning industry. However, unequal access to e-learning still remains significant among emerging countries in the region.
In its early days, one of the main challenges to the expansion of the e-learning industry in Latin America was the lack of effective tools to enable immediate cross-border payments in local currency.
With technological advances in the digital payments industry, not only have online education platforms grown in the region, but their financial penetration in the market has also increased.
According to a recent study by Research and Markets, the e-learning market in Latin America is expected to generate revenues of over US$ 3 billion by 2023.
These figures indicate that online education will continue to grow rapidly in Latin America and it will be essential to have the support of an experienced payment partner to drive regionalization processes through a localized payment strategy.
Paytech drives remote education platforms in multiple instances:
– Automates recurring payments: students don’t have to add their data with each monthly payment.
– Integrates more than 250+ payment methods: no matter how students prefer to pay, PayRetailers’ gateway has a range of payment methods to suit students’ needs, including bank transfers, card payments and QR codes.
– Boosts financial inclusion: by issuing cash vouchers, students who do not have access to banks can pay for their courses, diplomas or postgraduate studies through cash payments in convenience stores or financial institutions.
Payments that bridge the gap with PayRetailers
PayRetailers’ state-of-the-art technology allows e-learning businesses to seamlessly process different payment formats, adding quality, agility and flexibility to the payment processes.
Providing customized payment and currency hedging services to customers around the world is a job for specialists. PayRetailers offers competitive and transparent pricing, along with a guaranteed, secure delivery.
By exploiting the possibilities now available, businesses can effectively identify customers and better address different categories, offering them personalized and context-specific services, such as multi-currency payment methods, link payments, and multiple innovative infrastructures in more than 12 markets in the region.
Our all-in-one solution enables students and e-learning businesses to take full advantage of the benefits of the market when making payments.
If you’re looking for an expert payment processor in Latin America to get your educational platform off the ground in LATAM, contact us!