Ecuador, a potential market for growth-oriented companies
The e-commerce market in Ecuador is still in an early stage, however, with the growing access to the internet and smartphones Ecuadorian consumers are starting to buy more online and enterprise companies are increasingly curious about the power of this potential market.
Trust and used by ENTERPRISE companies
The use of mobile devices and social networks have increased e-commerce sales in Ecuador
93%* of the population has mobile phone connections.
Ecuador has 12M* internet users, representing 71% of the country’s population.
Compared to other Latin American countries Ecuador holds some advantages. The country doesn’t have many restrictions for foreign transactions, also its official currency is USD.
Most of the consumers who are buying online in Ecuador choose international e-commerce stores.
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Learn everything there is to know about the Latin American market, and get some insights to succeed in the region.
Reach 100% of Ecuadorian Online Shoppers with Local Payment Methods
Local Payment Methods in Ecuador
Research shows that the fear of giving out personal information and being swindled is the biggest motivation for not buying on the internet. Increase your sales by offering Ecuadorians the local payment methods that they trust and are used to.
E-commerce transactions by payment methods in 2019
Source: AMI datapack, 2020
Available with local payment processing.
Available with international payment processing.
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Voucher and Electronic Payment
A voucher payment and a real-time bank transfer method. Easy and secure solution for customers who wish to pay in cash or through their online banking service.
The usage of credit cards has been growing. Although, only 30% of credit cards issued in Brazil are able to make international purchases. Start to accept both international and domestic cards and increase your conversions.
Debit card is a common payment method in Brazil, today, there are 346M active debit cards in the country, also 647B reais were spent using this method in 2019. Accept debit cards to reach a new consumer base and optimize your revenue in Brazil.
Brazilians have the habit of splitting the total amount of a purchase made with a credit card in up to 12 monthly payments. Allow your customers to make higher-value purchases and increase your average ticket.
Brazil has several ways to pay online beyond credit cards. Bank Transfer and Online Debit are two effectivity payment options. Allow consumers to use their usual bank account to make an immediate payment without the risk of chargeback for you.
The popularity of digital wallets is increasing in Brazil, mostly due to the benefits offered by them, such as convenience, security, and simplicity to pay. Be ahead of the market and start to offer digital wallets on your e-commerce store.
Get the broadest reach with Ecuadorian payment methods
Recurring Payments
More people have access to the Internet, which is driving the growth of streaming, video, and audio services in Brazil. Accept recurring payments in local currency and optimize your revenue.
Our payment solution is tailored for Latin America and accommodates diverse subscription models available in the market to supports the needs of your company.
Increase your customer base.
Reduce churn with automatic recurring billing.
Boost payment acceptance in a safe way.
Localized customer experience with payment transparency.
Payout
Pay your Brazilian suppliers simply and securely, in the way they want to be paid. EBANX Payout offers all the support as regulation, compliance, taxes, and local connections to make this payment process smooth to you and to your Brazilian partners.
