The open payments platform Spreedly has teamed with the payment service provider EBANX.
The partnership between the mentioned companies was announced on Tuesday, April 8th. This collaboration is aimed at helping international firms gain access to local payment options in Latin America.
In a joint press release, the companies noted that digital commerce in the mentioned region is currently on a trajectory of rapid growth. It was also highlighted that the corresponding process is particularly typical for Latin American countries such as Brazil, Mexico, and Colombia. Against this background, the number of international brands that seek to localize their payment offerings in the mentioned region is increasing.
It was also noted in the press release that the partnership between Spreedly and EBANX provides a unified framework for businesses. This framework secures the opportunity to offer payment methods such as Pix, electronic wallets, cash vouchers, debit and credit cards, including local brands and installments.
Moreover, a press release noted that the partnership announced on Tuesday covers 17 Latin American countries in which EBANX operates. In this case, it means both major markets such as Brazil, Mexico, and Colombia, new digital markets including Chile and Peru, along with the countries of Central America and the Caribbean.
Daniel Kornitzer, vice president, and head of global partnerships at EBANX, stated that Latin America is on the radar of international companies, as there are solid opportunities for expansion in this region.
In a joint press release by the parties to the cooperation, special attention was paid to the Brazilian Pix payment system. In the relevant context, plans to use this system to promote travel payments were noted.
Industry research shows that 43% of Brazilian consumers interact with Pix on a daily basis. At the same time, 29% of consumers in the mentioned country rely on credit cards. Another 21% use cash. The specified results also show that more than 80% of Pix customers describe this payment method as having a positive impact on their lives. Moreover, it is worth noting that in Brazil, consumers are predominantly fans of digital banking. In this country, 95% of customer interactions with banks are carried out through digital channels.
In Latin America, there is currently a high level of use of virtual payment methods. For example, Brazilians are one of the most active populations in the world, using digital technology for everything from banking to gaming. Other Latin American countries also demonstrate a high level of involvement in the relevant virtual processes. For example, Colombia is one of the hotbeds of online activity. This means that people are interested in digital banking, e-commerce, and other types of activity in the virtual space.
According to experts quoted by the media, companies planning to do business in Latin American countries should be aware of the specifics of local payment methods.
Juan Soto, general manager of LatAm for Nuvei, said during a conversation with media representatives that each of the mentioned region countries has a different attitude toward how money moves. According to him, for this reason, companies need specialists who have already been through the process and have all the certificates and licenses that may be required to process payment transactions within a particular country.
As we have reported earlier, Ripple and Unicâmbio to Power Brazil-to-Portugal Payments.
