Allied Wallet, a provider of online processing and payment solutions in 196 countries, has added several new features to serve the growing demand for alternative payment options in Brazil, according to a press release.

Image courtesy of Allied Wallet

In Brazil, more than 55 million consumers lack a bank account, hence, the popularity of alternative payments.

With more than 500 million mobile phones used by Brazilians and 10 billion mobile top-ups carried out annually, digital wallets that can be accessed via mobile device are the future of Brazilian payments, the release said.

To accommodate the need, Allied Wallet is now compatible with Boleto Bancário, Hipercard, Banco do Brasil, AstroPay Card, Santander, Elo, Bradesco, Aura, Cartão MercadoLivre and Itaú.

The average internet user in Brazil spends about $560 online annually and online shopping is expected to grow 64 percent over the next three years, according to Forrester, although 47 percent of internet users are concerned about online security.