Fortumo Connects Uruguay, El Salvador and Nicaragua
As promised in our last post, we have more exciting news to announce. This week Fortumo launched its payment platform in Uruguay, El Salvador and Nicaragua, bringing our services to 15 million more people.
In fact, the total number of mobile subscriptions in the area is even higher, as mobile penetration in Uruguay and El Salvador is well over 100%, Uruguay, one of Latin America’s most developed economies, boasts a mobile penetration rate as high as 136% as well as notable initiatives, such as equipping every primary school student with a free laptop.
Yet the relatively high mobile penetration doesn’t mean the market is saturated, quite on the contrary. The high number of mobile subscriptions is attributable to the popularity of prepaid cards and is expected to grow further. Internet and smartphone adoption are still in early phase and are projected to soar over next few years, especially as mobile Internet is becoming the primary means of Internet access for Latin Americans due to lack of landline infrastructure.
Experts share the optimism: affordable devices, growing affluence, national telecom market liberalisation and infrastructure investments by multinationals are all contributing to make Latin America one of the industry’s highest growth-potential markets. Start tapping this potential today!