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Build a new audience and boost your revenue by selling into Ecuador, leveraging our proven global infrastructure to enter new markets with ease..
*The sale of certain products in this market may be subject to international export regulations. If you would like to learn more about selling into this market, lets chat.
The U.S. and Ecuador share a history of partnership and cooperation. The National Export Initiative (NEI) was announced in 2010, and the next phase of this successful approach is NEI/NEXT: a customer service-driven strategy with improved information resources that will ensure American businesses are able to capitalize on expanded opportunities to sell their goods and services abroad. U.S. companies can take advantage of the fact that Ecuador allows 100% foreign equity ownership without the need for authorization or prior screening. Ecuador has no limits on royalties that may be remitted when it comes to license and franchise transactions; remittances are subject to a capital exit tax, currently set at 5%. There are few foreign exchange issues, and in 2000, Ecuador adopted the U.S. dollar as the country’s official currency.
Mobile commerce is the fastest growing retail channel in Ecuador, with students being the fastest growing consumer group.
Available currencies will depend on the payment method provider, as well as any regulatory restrictions.
Digital River can support the sales of these types of products for this specific market.
Credit cards are the preferred payment method, accounting for 61% of online shoppers surveyed across the country.
In Latin America, even though cash-based payments are hard to beat in ecommerce (with notoriously convenient kiosk cash payments methods such as Boleto Bancário, or OXXO setting the tone these days), central banks actively collaborate with the fintech environment and the government to create a climate of financial inclusion and offer unbanked citizens easy means of paying and purchasing online in faster and safer conditions.
The list below represents the current categories of payment options Digital River supports for this market.