AstroPay has launched its latest capability platform ‘Payment Links’ for Small and Medium Enterprises (SMEs) in a host of Latin American countries.
The platform sees AstroPay expand into countries such as Peru, Chile, Mexico and Colombia after initially launching in Brazil in December 2021.
Payment Links enables SMEs to collect online payments via sharing computer links in an efficient and secure process.
“Many micro and small businesses could not reach the volume threshold required to make accepting credit card payments a financial feasibility,” states Mikael Lijtenstein, CEO of AstroPay.
“They need online payment options that not only open up a world of new revenue streams and opportunities, but make it possible to compete with the big companies. Payment Links are cost-effective and offer flexibility and ease of operations for these businesses.”
Business owners can also access payments via a mobile number with the link they receive. Payment Links also allows cross-communication through links, allowing customers to make transactions with various alternative payment methods (APMs).
Lijtenstein added: “With AstroPay’s Payment Links capability, micro and small business owners are able to offer their customers a quick, easy, and convenient way to pay, and it’s affordable to accept payments.”
According to AstroPay, ‘SMEs also represent 99% of businesses in Mexico and 99.5% of the total number of formal enterprises in the Peruvian economy.’
The SME industry has grown in 2021 for countries Colombia and Chile, rising by 10.6% and 65.3% respectively.