EBANX, a provider of payment services for emerging markets, shared new data on how monday.com, a global software company, optimizes payments for its customers in Brazil with EBANX’s payment solutions.
Supported by a payment strategy focused on local solutions, monday.com elevated the average ticket in the country to above the $9,000 mark.
The payment method mix includes credit card installments, a cultural phenomenon in Brazil, and cash payments like Boleto Bancário, a popular bank slip that can be paid either online or offline. This localized payment mix has been offered by monday.com since 2022. Over the past three years, the company has experienced an average annual growth of 41% in total payment volume (TPV) through EBANX.
The widespread use of installments in Brazil is deeply tied to the country’s experience with high inflation in the 1980s and early 1990s. Additionally, Boleto Bancário has long served as a tool for financial inclusion, particularly relevant given that 60 million people in Brazil don’t own a credit card. With both payment options available, businesses can take full advantage of monday.com’s work management platform, enabling teams to perform at their best across all areas.
“Our collaboration with EBANX has been transformative for supporting the payment process for our customers in Brazil, ensuring they have an intuitive and localized experience from start to finish,” says Mauricio Prado Silva, VP of LATAM at monday.com.
Offering installments has enabled the company to cater to a Brazilian preference and habit of splitting payments (both consumers and businesses) and overcome challenges related to lower purchasing power in emerging markets compared with more developed economies. This method accounts for 35% of the total volume transacted in Brazil for monday.com through EBANX over 12 months.
Robert-Jan Lieben, vice-president of commercial in Europe at EBANX says that by offering methods that local consumers trust businesses are expanding access to their products and services across different economic segments.
Beyond installments, monday.com, with support from EBANX, focused on another deeply rooted method in Brazilian culture: cash payments like Boleto Bancário. EBANX’s study Beyond Borders 2025 reports that 25% of B2B e-commerce purchases in the country are made with Boleto, compared to 10% in P2B (person-to-business) sales in digital commerce.
Not surprisingly, cash payments like Boleto Bancário have become key to supporting monday.com’s growing customer base in Brazil, representing 52% of all the company’s transactions in the country, followed by credit cards, which account for 47%.
“The share of Boleto in monday.com’s business is double the average. This performance further reinforces the value in partnering with a payment specialist for success in emerging countries,” Lieben added.
The expansion of monday.com in Brazil is an example of Latin America’s burgeoning SaaS market, which is projected to expand by 20% annually until 2027, according to Payments and Commerce Market Intelligence (PCMI).
“This promising scenario is fueled by a rapid technological transformation across industries and a rising demand for cloud-based solutions,” Lieben said.
As EBANX and monday.com’s partnership highlights, local payment methods are crucial for cross-border e-commerce in Latin America, from large enterprise companies to small and medium-sized (SMBs) ones. For SMBs, particularly, local payment options like cash-based vouchers and account-based transfers provide them with more accessible and flexible ways to engage in international commerce.
