Brazil's Ebanx ties-up with VTEX to target Latin American payments

Vtex

12/04/2022 13:00

April 12 (Reuters) - Brazilian fintech Ebanx said on Tuesday
it has launched a partnership with digital commerce platform
VTEX  VTEX.N , 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)
 ((Carolina.Pulice@thomsonreuters.com;))