(Reuters) – Brazilian fintech Ebanx said on Tuesday it has launched a partnership with digital commerce platform VTEX, in a new push to provide expanded payment services for its Latin American clients.
The partnership will enable cross-border payments to Brazilian companies that operate in Mexico, and Central and South America, as well as in the Dominican Republic, Paula Bellizia, a global payments executive with Ebanx, told Reuters, and will offer more than 100 payment methods in 15 countries across the region.
The deal covers “a complete integration for the payment process, with a focus on Brazilian companies that are already internationalized, or are in the process of doing so,” Bellizia said.
She declined to provide client names, but said sectors such as travel and e-commerce will benefit the most from the new payments options.
Created in 2000, London-based VTEX led the world’s digital commerce platforms market last year, according to the IDC MarketScape survey published by market researcher International Data Corp. Latin America is VTEX’s top market, making up more than 80% of its revenues.
“There is more and more integration in Latin America, with (the region) showing its value to the world,” said Rafael Brandao, VTEX’s vice president for global alliances.
The mostly Spanish- and Portuguese-speaking region is known for its significant growth potential.
A survey conducted last November by Americas Market Intelligence and Ebanx projected that Latin America’s cross-border digital market will see growth of 45% in 2022, compared with the previous year, to reach $45 billion in total market value.
(Reporting by Carolina Pulice; Editing by David Alire Garcia and Leslie Adler)
