Stripe this week announced it has launched in Mexico, Latin America's second-largest economy, which could indicate the market's growing important for U.S. companies.
With the second-largest economy in Latin America, the launch could indicate the market’s growing importance for U.S. commerce as well. While online e-commerce only represents around 2 percent of Mexico’s GDP currently, retail e-commerce in Mexico is expected to grow by 35 percent in 2019, according to figures from eMarketer.
“We want to help accelerate that growth. With today’s launch, Mexican entrepreneurs and businesses can start accepting payments from around the world in a matter of minutes,” Stripe officials said in a release on the news.
Stripe also noted it is working with key companies in Mexico, such as Homely, Cornershop, mienvío, Rappi, and Unitips, in designing their service for the Mexican market.
Stripe noted the Payment Intents API now supports up to 18 and transactions can be processed in over 135 currencies.