June 1, 2001
The Internet in Latin American seems to foster one failed business idea after another. Portals are closing, revenue for service providers is scant, people don't shop online and even banks have found e-banking less profitable than they had hoped. The story is the same everywhere - getting people online is easy, however getting them to spend money is not.
According to IDC Latin America, an Internet advisory firm, fewer than 20% of Internet users in the region have ever used the Internet to pay a bill or complete an online purchase.
Latin American banks haven't thrown in the towel yet and are hoping that the Internet will offer them a greater base from which to offer traditional f
Latin American banks are hoping that by mediating all sorts of online transactions, they can build their customer base and the profits they generate with traditional services.