Mobile Wallet Provider Citcon Adds 100+ New Payment Methods

CITCON, a mobile wallet company, has added the most popular mobile wallets and local payment methods in Latin America (LATAM) and Asia Pacific (APAC) on its platform, according to a press release.

That will help make a simple integration possible for those regions, where traditional credit cards have low penetration rates, the release stated. CITCON’s new launch will propel 100 or more mobile wallets in countries like Mexico, Brazil, Chile, Argentina, Uruguay, Colombia, Malaysia and more.

There will now be over 300 million users of CITCON, according to the release. The payment methods cover credit and debit cards; voucher payments; buy now, pay later (BNPL); eWallets; bank transfers; and more, which means almost all major local payments used by LATAM and APAC countries can be supported with the use of the CITCON solution.

The new payment solution will also help merchants access “critical finance and regulatory matters,” like foreign exchange (FX) conversion and cross-border settlements, which have been pain points in the past, the release stated.

“A recent study by eShopWorld showed that 55 percent of non-U.S. consumers ages 18-34 shopped from U.S. sites in the past 12 months,” said CITCON Founder and CEO Chuck Huang in the release. “U.S. eCommerce merchants have a once-in-a-generation opportunity to activate these consumers, and CITCON’s robust global payment infrastructure can enable this activation. Use of local payment methods is a proven means to reduce cart abandonment for cross-border eCommerce.”

Payments have been going more digital since the pandemic began, and QR codes have been cropping up after years of obscurity. They’ve become a popular tool for smaller businesses looking to future-proof against whatever might come next.

The trend is also likely to outlive the pandemic, according to the latest QR Code Payments Tracker®, which stated the number of businesses using QR codes went from 20 percent in June to 39 percent by December.