EBANX and VTEX partner for cross-border payments across LATAM

Wednesday 13 April 2022 10:36 CET | News

Brazil-based fintech EBANX and digital commerce platform VTEX have teamed up to broaden cross-border payments for Brazilian ecommerce companies in LATAM.

Through this union, Brazilian companies will be able to benefit from more than 100 payment methods in 15 countries across Latin America. According to EBANX, the cross-border market in Latin America will move around USD 45 billion in 2022 and Brazilian players may want to take advantage of this opportunity to expand their business.

According to EBANX’s Beyond Borders study, in 2021, 68% of Latin American consumers were already ecommerce users, a rate above the 45% in pre-pandemic years. As a result, it is estimated that since 2020, more than 150 million Latin Americans have purchased online for the first time. The region is expected to grow 30% per year through 2025, an acceleration comparable only to that of Asian markets, according to the study.

VTEX officials noted that with this partnership, they are closer to one of their main strategic objectives, which is to make VTEX the single control panel, that is, to allow their customers to manage 100% of their orders through their platform. 

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Keywords: ecommerce, merchants, payment methods, expansion, partnership
Categories: Payments & Commerce
Companies: EBANX, VTEX
Countries: Latin America
This article is part of category

Payments & Commerce




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