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Ebanx and Vtex team on cross-border payments

Source: Ebanx

Ebanx, a payments fintech with a global presence, and VTEX, a digital commerce platform for large companies and retailers, today announced an unprecedented partnership aimed at broadening cross-border payments for Brazilian e-commerce companies in Latin America.

Through this union, Brazilian companies will be able to enjoy more than 100 payment methods in 15 countries across Latin America.

"We are very happy with this announcement of a new partner as important as VTEX, which shares our vision of efficiency, agility and providing more access to cutting-edge technology. The cross-border market in Latin America will move around US$45 billion in 2022, according to data from our latest Beyond Borders study, and it is time for major Brazilian players to take advantage of this opportunity to expand their business. In addition to the first-rate product, these customers can now take advantage of EBANX's experience after more than 10 years in the region, to make it easier to deal with the various legislation and payment types in different countries," said Paula Bellizia, President of Global Payments at EBANX.

According to the Beyond Borders study, in 2021, 68 percent of Latin American consumers were already e-commerce users – a rate well above the 45 percent in pre-pandemic years. As a result, it is estimated that in the last two years more than 150 million Latin Americans have purchased online for the first time. Latin America is a global leader in e-commerce expansion today. The region is expected to grow 30 percent per year through 2025, an acceleration comparable only to that of Asian markets, according to the study.

For Rafael Brandão, vice president of Global Alliances at VTEX, the union is a way to leverage this good moment in the market and a reflection of the evolution of the services that the company offers to its customers. "With this partnership, we are closer to one of our main strategic objectives, which is to make VTEX the single control panel, that is, to allow our customers to manage 100 percent of their orders through our platform. EBANX brings technology and experience in the right measure so that our customers can expand their business even more throughout Latin America. EBANX’s ability to reconcile various payment methods and currencies, while ensuring compliance with local regulations across 15 different countries, will certainly help in this evolution, and will take our customers to another level of efficiency and security," he said.

In 2021, EBANX grew more than 110 percent in processed volume and the arrival of Paula Bellizia as the company’s president further strengthens the focus on international expansion and diversification of portfolio and partnerships. Today, the company has operations in 15 countries, teams located in more than 10 countries, more than 1,700 ebankers, from more than 20 nationalities. It offers more than 100 local payment methods in Latin America to more than 1,000 global customers such as SHEIN, Shopee, Spotify and Uber, and to more than 35,000 merchants in Brazil. 

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