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CoverStory
BlueSnap Chief Executive Officer. "As soon as a shopper comes in from those As a market, Latin America is
companies it immediately recognizes it and it knows the device, too." He noted following trends witnessed in
that online clients are seeing a 5 to 7 percent uplift in payment conversions. North America. "Today it's a very
traditional market with a terminal
Prospecting in Brazil or a mobile device going directly to
Within Brazil's predominantly Portuguese-speaking population of more than an acquirer or processor where now
200 million people, 62 percent are under the age of 30, which enhances its some of the larger companies are
reputation for being a vibrant, adaptive culture. The two most prominent becoming more sophisticated," said
payment methods are the Bolleto Bancário regulated by the Brazilian Jennifer Miles, President of VeriFone
Federation of Banks and installment payments. "If you don't offer those types Americas. "It's an opportunity for us
of local payment options, you're missing a huge share of the population," to bring some of our ISO partners in
Doron noted. to provide technology as ISVs in that
region."
In April 2014, WorldPay strength-
Has Danielle taken you on ened its global position by acquiring
Brazil-based payment service pro-
vider Cobre Bem Tecnologia. "Brazil
your personalized today is the powerhouse of Latin
American e-commerce, accounting
virtual tour yet? for around 60 percent of all spend,"
said Ieuan Owen, Senior Vice Presi-
dent eCommerce Strategy at World-
Pay.
Analysts predict Brazilian e-com-
merce sales will rise from $24 billion
in 2013 to $39 billion in 2016. "Most
of this spend is on domestic brands'
websites, although foreign brands'
share is estimated to be in the range
of 5 to 10 percent and rising," Owen
said.
U.S.-based online merchants inter-
ested in doing business in Brazil
should be forewarned that tax codes
there are among the most compli-
cated in the world. Multicurrency
payment processor PayScout Inc.
CEO Cleveland Brown commented
on the complexity of Brazil's closed-
loop network process policy. He said
American businesses wanting to sell
to Brazilian consumers must under-
go a difficult 12-step sequence to es-
tablish a payment presence there.
Brown added that a U.S. business
must establish a corporation in Bra-
zil under the guidance of a corpo-
rate attorney. However, a Brazilian
partner must first agree to own a
50 percent stake in the corporation.
Call Danielle directly The next step is to establish a physi-
707-284-1686 cal office, but to qualify, the corpora-
tion must hire employees under the
tutelage of a labor law compliance
attorney. Then it must establish a
38
BlueSnap Chief Executive Officer. "As soon as a shopper comes in from those As a market, Latin America is
companies it immediately recognizes it and it knows the device, too." He noted following trends witnessed in
that online clients are seeing a 5 to 7 percent uplift in payment conversions. North America. "Today it's a very
traditional market with a terminal
Prospecting in Brazil or a mobile device going directly to
Within Brazil's predominantly Portuguese-speaking population of more than an acquirer or processor where now
200 million people, 62 percent are under the age of 30, which enhances its some of the larger companies are
reputation for being a vibrant, adaptive culture. The two most prominent becoming more sophisticated," said
payment methods are the Bolleto Bancário regulated by the Brazilian Jennifer Miles, President of VeriFone
Federation of Banks and installment payments. "If you don't offer those types Americas. "It's an opportunity for us
of local payment options, you're missing a huge share of the population," to bring some of our ISO partners in
Doron noted. to provide technology as ISVs in that
region."
In April 2014, WorldPay strength-
Has Danielle taken you on ened its global position by acquiring
Brazil-based payment service pro-
vider Cobre Bem Tecnologia. "Brazil
your personalized today is the powerhouse of Latin
American e-commerce, accounting
virtual tour yet? for around 60 percent of all spend,"
said Ieuan Owen, Senior Vice Presi-
dent eCommerce Strategy at World-
Pay.
Analysts predict Brazilian e-com-
merce sales will rise from $24 billion
in 2013 to $39 billion in 2016. "Most
of this spend is on domestic brands'
websites, although foreign brands'
share is estimated to be in the range
of 5 to 10 percent and rising," Owen
said.
U.S.-based online merchants inter-
ested in doing business in Brazil
should be forewarned that tax codes
there are among the most compli-
cated in the world. Multicurrency
payment processor PayScout Inc.
CEO Cleveland Brown commented
on the complexity of Brazil's closed-
loop network process policy. He said
American businesses wanting to sell
to Brazilian consumers must under-
go a difficult 12-step sequence to es-
tablish a payment presence there.
Brown added that a U.S. business
must establish a corporation in Bra-
zil under the guidance of a corpo-
rate attorney. However, a Brazilian
partner must first agree to own a
50 percent stake in the corporation.
Call Danielle directly The next step is to establish a physi-
707-284-1686 cal office, but to qualify, the corpora-
tion must hire employees under the
tutelage of a labor law compliance
attorney. Then it must establish a
38
