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Local Payment Methods

Optimize your revenue with a solution that unifies the different local payment methods in LatAm

Latin America is an attractive market for local and international enterprise companies. In this unique market, the local payment methods and localized approach plays an essential role for those who want to thrive in the region. Under one unique platform, EBANX enables you to easily choose over 100+ local payment methods, across 15 different countries.

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Payment Methods Icons
Payment Methods Icons

Latin America is a remarkable market

The steady growth of digitalization and online shopping makes the world's biggest, local and international enterprise companies turn their eyes to Latin America and become eager to grab a piece of the market share. However, expanding and growing in the region can be complex and challenging due to a hyper fragmented payments landscape: multiple countries with different cultures, regulations, payment landscapes, and currencies.

Although the options are entirely different in each country, offering the various local payment methods is a game-changer and the secret to expanding your addressable market. With EBANX you have total control over your operations, choosing the markets and payment methods you want to use in the countries where you already operate or are thinking about expanding into. All this, in a single integration and without the stress and difficulties of doing it alone. Say goodbye to the complex; say hello to the EBANX way!

Most popular payment methods by countries

  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Colombia
  • Peru
  • Bolivia
  • Ecuador
  • Uruguay
  • Paraguay
  • Panama
  • El Salvador
  • Guatemala
  • Costa Rica
  • Dominican Republic

International Settlement

Local Settlement

International Settlement

Local Settlement

International Settlement

Local Settlement

International Settlement

Local Settlement

International Settlement

Local Settlement

International Settlement

Local Settlement

Voucher Payments

For the longest time, Latin America has been a cash-first economy, with a large unbanked population. In some Latin American countries people don’t have easy access to credit cards enabled to make online purchases. Also, some consumers are leery of digital forms of payments due to fraud. This is why cash remains one of the preferred payment methods in the region.

Voucher Payments
Voucher Payments

How do voucher payments work?

With voucher payments, customers can pay in cash for their online purchases. After selecting this payment method at the check-out, an invoice with a barcode is generated, and the consumer can pay for it in cash at a physical store or through their online banking app. This payment method is part of the Latin Americans daily-routine for both online and offline payments. In Brazil, for example, vouchers represent 13% of the total e-commerce volume, and in Mexico, the share is 16%.

Start to offer the most popular voucher payments in the main Latin American countries, without having to set up a local entity.

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Research

Beyond Borders 2020/2021 Study

This study provides a contextualized portrait of the behavioral trends shaping the region's payments and cross-border e-commerce market, especially after Covid-19.

Domestic Credit and Debit Cards

Although credit cards are the first form of payment that comes to mind and are offered by international companies that sell in Latin America, this is not the reality in most countries. Each country has its own local cards environment, and they play an important role, enabling more people to buy online. Enterprise companies that want to achieve the region's full potential and improve approval rates must offer Credit and Debit Cards through local acquirers and bank connections. With EBANX, you can have the whole package simply and easily.

With EBANX as a local partner, merchants can accept both International and Domestic Cards, increasing the addressable market and the approval rates.

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Domestic Credit and Debit Cards Payments
Domestic Credit and Debit Cards Payments

Increase your average ticket with installments

In addition to adding local cards to your strategy, offering Installments is a game-changer. Many Latin American consumers look to use Installments to fit their big-ticket purchases into their budget. Also, credit card limits are usually very low, so consumers are unable to pay for expensive purchases all at once otherwise they are left without limits for the rest of the month.

By spreading out the final price into monthly affordable payments, shoppers can make more expansive purchases at prices they are comfortable with.

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Alternative Payments
Alternative Payments

Alternative Payments

Alternative Payments, like bank transfer, instant payment and digital wallets are gaining traction in Latin America as a result of increased mobile adoption. Latin Americans, specifically younger generations, look to use their mobile phone to make online purchases. With just one integration, you can allow customers to easily pay for their purchases by using their favorite method and with the bank of their choice.

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Digital Wallets

Digital Wallets are already widely adopted around the world and are starting to gain traction in Latin America. The increase of digitalization is definitely one of the reasons for this since customers are getting more comfortable moving their finances online. Digital wallets end up being an easy and secure way for people that don’t have access to credit cards, or a bank account, turning into a viable alternative to the traditional financial system.

Digital Wallets
Digital Wallets

EBANX is one of the pioneers in offering digital wallets to local and international enterprise companies.

Unlock a potential customer base and be ahead of the market by offering this preferred payment method.

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The more ways shoppers can pay, the more chances you have to sell.

EBANX simplifies all the complexities of the market in a unique platform, removing the barriers for companies with or without local offices to succeed in Latin America.

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