With 2.6 million people with internet access, e-commerce is still at an early age in a country with a steady growth in the last years. Some online stores showed an annual growth rate of 30% to 50%.
Internet became a great ally for business in Uruguay when it reached the highest levels of penetration rate in Latin America. Just to give an idea, 83% of Uruguayan households have access to at least one computer with internet. After the smartphones´ boom, this rate increased to 94%, turning this country into the e-commerce golden chip in the Southern Cone.
The population of 3.5 million people describes a small market when compared to other countries, however it can become a digital giant if all its potential is well explored. A relatively high GDP of $15,220 per capita, an internet penetration of 2.6 million online users and a great software development has made Uruguay interesting and it is attracting more and more business from all over the world. No wonder BoaCompra recently announced their arrival in the country.
“With our support, international companies can boost their sales in a country with one of the highest internet penetration rates in Latin America (83% in average). BoaCompra simplifies any local payments in Uruguayan Pesos (UYU) with six different local payment methods and a 24×7 Spanish speaking customer support”, explains Alain Delcourt, General Manager at UOL BoaCompra.
Nowadays, companies from China and the United States are the favorites of Uruguayan shoppers. Most items purchased online from overseas are sporting goods, auto-parts, videogames, clothing and shoes. The main reason for this trend is that Uruguayan shoppers are able to find better prices in international stores for good quality products.
About BoaCompra in Uruguay
Aiming million online users in a country with a GDP per capita of $15,220, Uruguay was a natural choice for UOL BoaCompra´s expansion in Latin America. The cross-border payments provider – specialized in emerging markets such as Brazil, Mexico, Peru, Colombia, Chile and Turkey – announces its launch in Uruguayan territory this month.
With Redpagos, the largest payment option in Uruguay for cash payments which is present in hundreds of points of sale all over the country, merchants can also reach the unbanked population. With a full coverage, international e-commerce companies can benefit from UOL BoaCompra’s expertise on emerging markets, monetize their products/services with a single integration, contract and settlement.
Operating in Latin America since 2004, UOL BoaCompra has expanded its operations from Brazil to nine other countries in different continents. Bringing more than 150 different local payments and working with more than 300 partners, UOL BoaCompra allows merchants to connect their digital business with more than 350 million potential online customers.