Digital River (NASDAQ: DRIV), a leading global provider of Commerce-as-a-Service solutions, today announced an expansion of its Brazil payments offerings through a partnership with Ebanx, a cross-border payments processor in Brazil and Latin America.
Since 2007, Digital River has been facilitating payments in Brazil as a reseller and payments gateway. The joint Digital River and EBANX offering will provide companies of all sizes a turn-key solution for processing local online payments, including installments, in Brazil.
Without having to take on the high cost of establishing a local entity in Brazil, the joint solution enables online merchants to:
• Quickly set up and start processing online payments in Brazil through a direct API or a hosted payment page;
• Increase authorization and conversion rates by accepting local payment options, including Boleto Bancario and cards;
• Consult with Digital River's local, knowledgeable support staff in the Brazilian market; and
• Gain access to payments tools that include online payment processing and authorization, recurring billing and batch processing.
"Brazil is the fourth largest payment card market in the world," said Souheil Badran, senior vice president and general manager of Digital River World Payments. "A number of our clients view Brazil as a strategic growth opportunity. We can help them navigate this highly complex market for cross border commerce, improve their authorisation and conversion rates, and control overhead costs and risks associated with managing their own local entities."
Digital River offers merchants entering Brazil three different business models that can evolve with their payment processing needs. The company leverages its own local entities to serve as a reseller for businesses that don't have a local presence in Brazil, offers a payment gateway for merchants with their own local entities, and now provides a fully integrated offering through the partnership with EBANX.
"With EBANX, we expanded our existing payments offerings in Brazil and added another option for our clients to capture more market share in this thriving ecommerce market," added Badran.
"Partnering with an ecommerce and payments leader like Digital River helps EBANX reach a greater number of merchants that are looking to Brazil as their next ecommerce frontier," said Alphonse Voigt, CEO at EBANX. "As merchants prepare to enter Brazil, they must understand the intricacies of market dynamics, regulations, tax structures and payment processing schemes. Together with Digital River, we can lend our local payments expertise to help them drive more revenue in a complex market."