In a region where superstition is deeply ingrained, the fear of unlimited credit card liability still keeps many Latinos from participating in online commerce. Most companies needed that little lock in the lower left hand corner of the browser to prove that at least a modicum of security existed for online buyers. There's more to security, however, than an icon. And the connection between the merchant and the gateway, which is the card issuer and transaction-processing unit, not only encrypts information with the highest standard available but also verifies identity. Additionally, Latin America's adoption of the 3D-SET system, recently introduced in Brazil, places the region on par with Europe and effectively the rest of the world.
Globalization is certainly a logical step for the development of Latin America's Internet economy.
But Latinos remain recalcitrant, and secure lock or not, they're not interested in giving away their credit card number. E-merchants are not sure they even want the credit card number because they're saddled with the responsibility of reimbursing their customer in the case of fraud.