EBANX and VTEX announce partnership in cross-border payments in Latin America
EBANX, a payments fintech with a global presence, and VTEX, a digital commerce platform for large companies and retailers, today announced an unprecedented partnership focused on cross-border payments for Brazilian e-commerces in Latin America. Through this union, Brazilian companies will be able to enjoy more than 100 payment methods in 15 countries in South and Central America.
“We are very happy with this announcement with a partner as important as VTEX, which shares with us the vision of efficiency and agility when providing access and cutting-edge technology. The cross-border market in Latin America will move around US$ 45 billion in 2022, according to data from the Beyond Borders survey, and it is time for major Brazilian players to take advantage of this opportunity to expand their business.
In addition to the first-rate product, these customers will be able to take advantage of EBANX’s experience of more than 10 years in the region as a everything, which makes it easier when dealing with legislation and payments in different countries”, said Paula Bellizia, President of Global Payments at EBANX.
According to the Beyond Borders study, in 2021, 68% of Latin American consumers were already e-commerce users – a rate well above the 45% in pre-pandemic years. As a result, it is estimated that in the last two years more than 150 million Latin Americans have purchased online for the first time, a fact that helps to understand how the digital market in Latin America is expected to grow 30% per year until 2025, an acceleration comparable only to to that of Asian markets, according to the study.
For Astha Malik, VTEX’s Chief Operating Officer (COO), the merger is a way to leverage this good moment in the market and also another reflection of the evolution of the services that the company offers to its customers. “With this partnership, we reinforce one of the pillars of the VTEX platform, which is to offer our customers new ways to grow their business through a complete solution. With our connected ecosystem, brands and retailers can explore new business models, optimize and grow their operations.
The EBANX solution brings technology and experience in the right measure so that our customers can expand their business even further throughout Latin America”, he said. In 2021, EBANX grew more than 110% in processed volume and the arrival of Paula Bellizia as president further strengthens the focus on international expansion and diversification of portfolio and partnerships. Today, the company has operations in 15 countries, teams in more than 10, more than 1,700 ebankers, from more than 20 nationalities. It offers over 100 local payment methods in Latin America to over 1,000 global customers such as SHEIN, Shopee, Spotify and Uber, and to over 35,000 merchants in Brazil.
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