MONTREAL, November 9, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today the launch of its latest whitepaper: Insights and Opportunities for Regional Expansion Success – Interconnecting Asia-Pacific and Latin America. This report examines eCommerce payment trends and growth levers between Asia-Pacific and Latin America markets, and details why Asian companies will represent 28% of Latin American eCommerce imports by 2026.
The report predicts that eCommerce in Brazil will grow at an annual rate of 20% between 2022 and 2026 to USD $328bn. In Mexico, eCommerce growth will increase 32% per year over the same period. Much of this growth will be driven by cross-border eCommerce with Asia, which currently only represents 16% of all eCommerce imports.
Other topics covered in the whitepaper include:
• Why Latin America is such an attractive market for Asian companies
• How market synergies between Asia and Latin America have fueled trade growth between the regions
• How businesses from other regions can replicate this success
• The role of local payment methods and acquiring partners in maximizing the opportunity for international businesses to grow in Latin America
Commenting on the report, Nuvei President Yuval Ziv said: “Latin America is a very relevant market for international businesses. Brazil and Mexico in particular are attractive for their size, dynamism and cultural patterns which are similar to Asian markets.”
“This study is the first in a series of reports that Nuvei will produce, exploring growth potentials in various regions. We believe that highlighting these fast-growing markets helps companies make better decisions when looking for expansion opportunities,” Ziv added.
Rafael Lavezzo, Commercial Vice President of Nuvei Latin America, said: “Globally, businesses are increasingly looking to expand their operations and target customers beyond their region of origin. Latin America is often at the top of the list for expansion.
“Many businesses based in APAC are already doing this very successfully. This report shares insights as to how these businesses are approaching the Latin America market, the overall size of the cross-border eCommerce opportunity, and the approach businesses need to take when dealing with payments in the region,” Lavezzo added.
“Many businesses based in APAC are already doing this very successfully. This report shares insights as to how these businesses are approaching the Latin America market, the overall size of the cross-border eCommerce opportunity, and the approach businesses need to take to payments in the region.”
Download your copy here: https://pages.nuvei.com/why-latin-america-and-asia
The indicators come from the AMI Latin America eCommerce Library, a detailed eCommerce database developed annually by AMI, covering 17 markets in the region. AMI aggregates this data set from interviews with over 40 industry stakeholders across Latin America, accompanied by detailed research, analysis, and exclusive interviews with key APAC e-commerce vendors and about the APAC-Latin America digital corridor.
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 580 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com.