Bringing AI to emerging economies

Reaching the next frontier for AI: Africa, Asia, and Latin America

The exponential growth rate of AI technology and mainstream accessibility over the last few years cannot be understated. The industry's value is forecast to increase twentyfold to nearly USD$2 trillion by 2030. Ensure your company is not leaving out the largest portion of the population - those in emerging markets. These regions are home to 85% of the global population. And nearly 90% of the world's under-30 demographic resides within them, the present and future spenders and decision-makers.

Currently, not everyone has equal access to the benefits of AI. Studies show AI helps developing countries overcome infrastructure gaps and solve challenges in critical sectors like energy, transport, agriculture, and manufacturing. However, many emerging markets face significant challenges when trying to adopt and leverage AI technology for their development needs.

Global access to AI through local operations and payment processing

Emerging market populations often face internal barriers to entry for new technology, like a lack of digital infrastructure. In addition, slow adoption rates can result from companies not accommodating local consumer and payment behaviors.

Offering local payment methods for expediting growth

Successfully dealing with, and understanding, varied payment preferences and behaviors are a hallmark of business in emerging markets. Differing use-cases, access to traditional banking services, lack of financial education, and more explain the need for a payment strategy that encapsulates all possible preferences and options when expanding your company into Africa, Asia, and Latin America.

A wide range of payment options enables your company to:

• Accept local currencies while receiving the currency of your choice
• Keep subscriber churn low
• Offer redundancy through Smart Routing and Smart Chaining, improving conversion rates
• Enable local acquiring
• Build trust with your prospective customers
• Access to over one billion people globally who are unbanked

Combine international savvy with local operations

Beyond offering local and alternative payments, partnering with a payments company with regional knowledge and expertise adds extra benefits to further your success in emerging markets.

Market entry support: Leveraging local presence and expertise facilitates smooth market entry and expansion.

Seamless integration: Offering easy-to-integrate payment solutions that connect seamlessly with AI platforms, enhancing user experience.

Competitive pricing and FX: Competitive fees and favorable foreign exchange rates for transaction cost reduction.

Regulatory expertise: Utilize in-depth knowledge of local regulations, ensuring compliance in every transaction.

Extend your commercial and individual reach

Running a company at the bleeding-edge of technology is already complex without factoring in emerging markets. Even in a familiar region managing payments, declines, renewals, cancellations, and addressing churn is more challenging than a direct purchase.

With AI set to play a pivotal role in developing market economies, making sure your tech and company is accessible to all who need it is paramount. A reliable payments partner provides your gateway into emerging markets, reducing stress and operational inefficiencies, administrative tasks, and the time required to establish a presence in a new operating environment.