Global fintech provider and payment processor Cardpay has announced the company has extended its global reach with the addition of five new markets.

The firm will expand into the United States, Mexico, Brazil, China and Singapore as part of its global plans and group CEO Kirill Evstratov described the move as “an important milestone.”

He said: “We are excited about the opportunity to offer our services to customers on 4 continents. 

“We are constantly looking for the ways to serve our customers better and make it even easier for them to accept local payment methods around the world. 

“Adding these large and growing countries allows our customers to market their good and services to almost 2 billion consumers there.”

With global eCommerce market to reach $4 trillion next year, more merchants are looking for a cost-effective way to accept payments from their customers across multiple geographies.

Cardpay is a principal member of Visa, MasterCard, UnionPay International and JCB International and provides all-in-one financial solution to online businesses worldwide.

“No secret that in many cases a high cart abandonment rate is linked to merchants’ inability to provide local payment methods,” added Evstratov. 

“With our platform this becomes a thing of the past as our customers can accept 300+ payment methods including Alipay and WeChat Pay in China, Boleto in Brazil, Oxxo and PayNet in Mexico. 

“We are streamlining the payment process by bringing our customers the widest range of local payments possible while keeping their cost of accepting international payments down”.