International FinTech company EBANX and Visa said they had developed their strategic partnership that was sealed by a participation agreement in the Visa Remittance Merchant Program signed with Visa do Basil, according to an announcement Thursday (Sept. 24).
The collaboration strengthens the relationship between the two companies and is geared towards providing payment services to global websites selling to Brazil through EBANX offerings in addition to buyers in countries who buy from the site, according to the announcement.
“Our goal at EBANX is to create access, offer the best services and payment solutions to connect Latin Americans and global businesses. It’s great to have a partner like Visa, with its reach, by our side in this goal, “EBANX Co-Founder and CFO Wagner Ruiz the word. “With regard to merchants, this partnership seeks to streamline and improve the integration and processing of payments offered to their Brazilian consumers, ultimately contributing to increased sales in the country.”
EBANX, founded in 2012, has operations in Brazil, Colombia, Argentina, Peru, Chile, Bolivia, Ecuador, Uruguay and Mexico. EBANX provides more than 100 local Latin American payment options for international merchants. Some of the companies that take advantage of the company’s offerings include Wish, AliExpress, Pipedrive, Uber, Spotify and Airbnb.
“With the growth of global digital trade, more and more consumers are looking for ways to consume products and services through international e-commerce stores. At the same time, the foreign trader wants to increase sales and expand his business to Latin America and Brazil in particular. Based on this trend, Visa is adjusting its rules to facilitate and expand trade, and access for Brazilian consumers to products and services from outside Brazil, ”said Marcos Marins, executive director of Sales for Trade at Visa do Brasil.
In January, EBANX testing EBANX GO digital wallet with 10,000 people experimentally. The product was intended to strengthen the company’s reach in the Brazilian payment market as per the news at the time.
Clients are invited to triall the offer by invitation only, and there is a waiting list as of January. This application was launched in connection with the Dock (of the Conductor Group) and Visa Brazil.
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