We’ve launched our mobile payments service in Mexico and Colombia, which are the latest additions to our mobile payment coverage in Latin America. Now, merchants can use Centili to reach customers in Brazil, Mexico and Columbia, with a simple, secure and fast way of paying for popular digital content (wallpapers, games etc.) In these countries, credit cards have notably low penetration, as only 13% of Mexicans and 15% of Colombians over the age of 15 have a credit card. Adding a mobile payment option for different kinds of digital content can have a huge impact on conversion.
Complementing the low credit card penetration trend, Internet penetration and smartphone penetration are still under 30% (Mexico a little over 28%, Brazil with 23%).
This is indeed affecting the digital content market, making wallpapers, ringtones and simple games for feature phones extremely popular at the moment. But the future of high-end digital content market in Latin America is looking very bright, so mobile payments have vast potential outside the feature-phones-oriented market.
Since Mexico is the leading country in the region with the smartphone penetration growing by 50% in 2013 alone, it is reasonable to expect excellent results when it comes to in-app payments as well. EMarketer estimates that 6.1 million people will be added to Mexico's smartphone-only owners population, reaching 54% penetration rate by 2017. This will turn into great potential for all mobile app developers seeking for the next big market.
To get more information on how to monetise your products and services via Infobip’s mobile payments, contact us today or schedule a meeting with our representative at Game Connection Europe in Paris (29-31 Oct) or Slush in Helsinki (18-19 Nov).
Sources: GSMA intelligence, World Bank reports, EMarketer reports