Open payments platform Spreedly and EBANX, a global payment service provider specialised in emerging markets, have teamed up to offer international companies seamless access to popular alternative payment methods in Latin America – methods like Brazil’s Pix – as well as e-wallets and local cards.
Spreedly explains that as Latin America’s digital commerce rapidly grows, especially in countries like Brazil, Mexico, and Colombia, international companies are increasingly looking to localise their payment offerings.
The partnership provides a unified framework for businesses to offer payment methods like Pix, e-wallets, cash vouchers, and debit and credit cards, including local brands and instalments.
The partnership extends to all 17 countries EBANX operates in Latin America, from the largest markets like Brazil, Mexico and Colombia, to newer digital markets like Peru and Chile, as well as countries in Central America and the Caribbean.
Daniel Kornitzer, VP Head of Global Partnerships at EBANX, citing data from research and intelligence group Payments and Commerce Market Intelligence (PCMI), says: “Latin America is on the radar of international companies because it offers solid expansion opportunities. Mexico and Peru, for example, are emerging digital markets with a growth potential of 25% and 20% respectively per year by 2027. In Brazil, the expectation is that the online market, currently valued at an impressive US$346 billion, will reach US$586 billion by then.”
Another factor is Pix, Brazil’s instant payment system, which is said to be revolutionising the digital commerce landscape, particularly in the travel vertical, and is being integrated into the Spreedly platform.
However, traditional cards still play a significant role in LatAm. Thus, Kornitzer says, “companies must integrate multiple payment options to meet the diverse needs of customers”.
Indeed, this partnership the two companies say, enables global merchants to cater to the diverse payment preferences of Latin American consumers.
