EBANX to process local payments in Mexico for Light in The Box

Wednesday 27 June 2018 10:01 CET | News

EBANX has partnered with Light in The Box, a China-based ecommerce merchant, to process payments with domestic debit and credit cards in Mexico.

Due to this collaboration, Mexican consumers who want to buy from Light in The Box will be able to pay with local payment methods they are used to.

With a population of around 120 million people, Mexico is the second largest ecommerce market in Latin America. In 2016, it generated USD 7.2 billion in sales, as reported by Statista, and it is growing continuously. In 2017, three in every four Mexican internet users made at least one online purchase, according to a research conducted by the Mexican Internet Association cited in the press release. When it comes to purchases on international websites, the percentage is also high: 67% of online buyers bought from a foreign ecommerce store.

In 2017, 61% of Mexican online buyers paid for online purchases with debit cards (credit cards were used by 53% of them. A study conducted by the Mexican Internet Association in 2016 showed that 64% of domestic online retailers had offered installment payment options for shoppers in 2015.

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Keywords: EBANX, local payments, Mexico, Light in The Box, merchant, China, ecommerce, debit card, credit card
Countries: World