Brazil’s fintech Ebanx announced on Tuesday that it has launched a digital integration platform on the VTEX platform to offer more payment services to its Latin American customers.
The partnership makes cross-border payments to Brazil’s companies operating in Mexico, Central, and South America, and the Dominican Republic, said Paula Bellizia, head of global finance at Ebanx, and offers more than 100 payment methods. 15 countries across the state.
The agreement addresses “the full integration of payment systems, focusing on Brazilian companies that are already international or in the process of doing so,” Bellizia said.
He declined to disclose the names of his customers but said features such as travel and e-commerce would benefit greatly from the new payment options.
Founded in 2000, London-based VTEX led global digital commerce platforms last year, according to market analyst International Data Corp. published by IDC MarketScape. Latin America is VTEX’s main market, accounting for more than 80 percent of its revenue.
“Latin America is becoming increasingly integrated and (the region) is showing its global importance,” said Rafael Brandao, VTEX’s vice president of global integration.
The Spanish- and Portuguese-speaking province is known for its size.
A study by American Market Intelligence and Ebanx last November showed that the market value of the Latin American digital market will grow by 45% in 2022 compared to the previous year, to $ 450.