Fintech EBANX Partners with VTEX to Support Cross-border Payments in Latin America

EBANX, a payments Fintech with an international presence, and VTEX, a digital commerce platform for large firms and retailers, has announced a partnership aimed at “broadening cross-border payments for Brazilian e-commerce companies in Latin America.”

Via this collaboration, Brazilian firms will be able to enjoy “more than 100 payment methods in 15 countries across Latin America.”

Paula Bellizia, President of Global Payments at EBANX, stated:

“We are very happy with this announcement of a new partner as important as VTEX, which shares our vision of efficiency, agility and providing more access to cutting-edge technology. The cross-border market in Latin America will move around US$45 billion in 2022, according to data from our latest Beyond Borders study, 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 can now take advantage of EBANX’s experience after more than 10 years in the region, to make it easier to deal with the various legislation and payment types in different countries.”

According to the Beyond Borders study, in 2021, 68% of Latin American consumers were “already e-commerce users – a rate well above the 45 percent 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.” Latin America is among the “global leaders in e-commerce expansion today.”

The region “is expected to grow 30%per year through 2025, an acceleration comparable only to that of Asian markets, according to the study.”

For Rafael Brandão, VP of Global Alliances at VTEX, the union is “a way to leverage this good moment in the market and a reflection of the evolution of the services that the company offers to its customers.”

He remarked:

“With this partnership, we are closer to one of our main strategic objectives, which is to make VTEX the single control panel, that is, to allow our customers to manage 100 percent of their orders through our platform. EBANX brings technology and experience in the right measure so that our customers can expand their business even more throughout Latin America. EBANX’s ability to reconcile various payment methods and currencies, while ensuring compliance with local regulations across 15 different countries, will certainly help in this evolution, and will take our customers to another level of efficiency and security.” 

Last year, EBANX grew over 110% “in processed volume and the arrival of Paula Bellizia as the company’s president further strengthens the focus on international expansion and diversification of portfolio and partnerships.”

Today, the company has operations “in 15 countries, teams located in more than 10 countries, more than 1,700 ebankers, from more than 20 nationalities.” It offers more than 100 local payment methods “in Latin America to more than 1,000 global customers such as SHEIN, Shopee, Spotify and Uber, and to more than 35,000 merchants in Brazil.”

EBANX claims to be “the leading payments platform in Latin America, connecting more than 35,000 global and regional companies with customers from one of the fastest-growing digital markets in the world.”

The company was “founded in 2012 with the mission of giving access to Latin Americans to purchase from international e-commerce merchants.”

Using powerful proprietary technology and infrastructure, EBANX “allows companies with local or international operations to connect with hundreds of payment methods in different countries. EBANX goes beyond payments, increasing sales and fueling seamless purchase experiences for companies and consumers.”

VTEX (NYSE: VTEX) provides “a software-as-a-service digital commerce platform for enterprise brands and retailers.” Their platform “enables their customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors.”

Founded in Brazil, they have been a key player “in accelerating the digital commerce transformation in Latin America and are expanding globally.” Their platform “is engineered to enterprise-level standards and features.”

They claim to be “trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries, who rely on VTEX to connect with their consumers in a meaningful way.”

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