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AstroPay enables international ecommerce websites to accept local payments from Latin America. Through its innovative platform, AstroPay addresses the three fundamental problems facing the Latin American e-commerce consumer: it provides a payment method for those without an international credit card, protects against phishing and identity theft, and prevents purchases from being rejected because of the merchant company’s regulations. AstroPay allows international e-merchants to access markets across seven Latin American countries, including Brazil, Mexico, and Colombia.
Backed by proprietary anti-fraud software, AstroPay’s secure platform enables e-merchants to accept payments through one of two methods. AstroPay Card is a prepaid virtual card purchased using local payment methods, whereas AstroPay Direct integrates a merchant’s checkout page with the customer’s local online bank account. AstroPay guarantees new merchants a 20% conversion rate spike or else it will not take its 4%-7% processing fee. To date, AstroPay’s merchant partners include Expedia, GoDaddy.com, and WorldPay, the world’s largest payment processor.
AstroPay aims to cement its advantage over its competitors by expanding its international partnerships beyond the entertainment industry. The new verticals in which it hopes to gain flagship partnerships include travel, electronics, communications, and digital content. As one of the fastest growing payment solutions in Latin America, AstroPay is on track to radically impact local consumer access to e-commerce.
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