UOL BoaCompra today announced its launch into Chile.
The company now offers 18 additional local payment methods including the company’s own currency, BoaCompra GOLD, Redcompra, Servipag.com and Khipu (online bank transfers), enabling international game companies to access a rapidly growing online population in this South American country.
“The vast potential of Chile’s current video game market provides compelling evidence for bringing foreign games to the country. This is a great opportunity for our partners to leverage our local expertise and start investing in this huge, historically overlooked market,” said Marden Silveira Neubert, Executive Director at UOL BoaCompra.
While considered one the forerunners in the emerging market games space and the fifth largest market in Latin America, the point is that “…A staggering 71% of those online in Chile do not have access to international credit cards to make purchases online, as Chileans primarily use local cards and cash-based payment methods,” said Fernando Estevez Vazquez, Director of Global Strategy & Payments at UOL BoaCompra.
Over 200 partnering game developers and publishers
UOL BoaCompra currently works with more than 200 game developers and publishers to monetize their games throughout emerging markets in Latin America, southern Europe and Turkey, including VALVE, Electronic Arts, Ubisoft, Smilegate, Bigpoint and Aeria Games.
With a portfolio of over 250 local payment methods, including BoaCompra GOLD, the company services more than 4,500 titles.
The company’s latest full-service payments launch into Chile comes on the heels of the company’s expansion into Colombia and Peru. All of these movements are part of a greater development strategy which is aimed, among other objectives, to provide the first Latin American e-wallet for gamers, and a complete solution for game developers and publishers looking to bring their titles to the region.
UOL BoaCompra’s portfolio of localized payment options in the market includes all local online payment options available, allowing gamers to use their preferred payment method with the greatest accessibility and ease. The Brazilian-based company also launched its popular GO4GOLD online game portal in Chile.
“Based on our successful track record with Brazil, Mexico, Peru, Colombia, Portugal, Spain and
Turkey, BoaCompra was the natural choice for opening up local currencies and payments in Chile” said Mark Richardson, CFO at VALVE.
Chile, a great market but local payment instruments are needed to operate
As the first South American country to join the OECD while boasting the highest GDP per capita in Latin America, Chile is staying ahead of the curve with more than 72.3% (2014) of the population connected online and a total of $3.2Bn (2013) spent annually in e-commerce.
“Additionally, Chile’s Internet penetration rate is markedly higher than its neighboring countries, demonstrating high demand for digital products and further growth in e-commerce with a good network and affordable prices. However, it is largely untapped by the giants of the game industry that do not offer local payment options.”
