This past week, FastSpring, a merchant of record for global SaaS and software companies, and EBANX, a global technology company specializing in payments for rising markets, announced a partnership to enhance users’ payment experience within FastSpring’s product suite in Latin America through local payment method Pix.
Pix, Brazil’s instant payment system introduced by the Central Bank of Brazil in 2020, has rapidly gained popularity among consumers as a preferred digital payment method. According to market data from EBANX’s annual study, Beyond Borders, Pix is projected to account for 40% of the total value of digital commerce in Brazil by 2026, tied with credit cards in market share. Pix is expected to comprise 20% of digital commerce transactions within Latin America by the same year.
FastSpring’s platform will integrate EBANX’s Pix payment processing capabilities, enabling global SaaS, software, video game, and digital product companies to offer Pix payments to Brazilian customers. This partnership also allows Brazilian digital products companies to utilize FastSpring’s platform to power their global expansion while maintaining Pix payments for their consumers at home.
“This partnership with EBANX allows FastSpring to leverage local payments, starting with the largest Latin American market, by delivering one of the country’s preferred payment methods,” said Dan Garcia, Sr. director of payments, risk, and compliance at FastSpring. “The FastSpring platform enables sellers of digital goods to accept the most popular global payment methods. Adding Pix opens up the Brazilian market to new buyers who do not have internationally enabled cards. It’s a must-have payment method in Brazil. Our partnership with EBANX enables this code-free upgrade for our customers.”
EBANX will serve as the exclusive partner processing Pix payments for FastSpring in Brazil. Through EBANX’s infrastructure, the company aims to streamline payment processes and enhance the overall purchasing experience for its clients and their customers in Brazil.
“The collaboration between FastSpring and EBANX means a significant step forward in providing tailored payment solutions for digital product companies operating in Brazil,” commented Gregory Cornwell, vice president of channels and business development at EBANX. “By integrating Pix payments into (their) platform, we are facilitating access to a key payment method in the Brazilian market, ultimately enabling businesses to expand their reach and drive growth.”
In addition to Pix, FastSpring’s platform offers a suite of e-commerce solutions, including merchant of record services that handle tax calculation, collection, and remittance, thereby reducing operational complexities and costs for digital product companies expanding globally.
