E-commerce booming in Latin America and Caribbean

The AmericaEconomia Intelligence research - which is based on qualitative and quantitative information from 17 countries - shows e-commerce has grown 121% in the region during the last two years.

Venezuela has seen the biggest surge, with e-commerce up 224% over the last two years, followed by Chile at 183%, Mexico at 143% and Brazil at 116%.

The study also found that credit cards are the most popular method for online payments and are preferred by 70% of customers.

One of the major factors behind the boom is a 48% increase in Internet penetration, as well as more than 100% growth in broadband access in the region over the last two years. Visa says this has resulted in faster connections that make online shopping easier and far more convenient.

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