A strategic partnership between the two Brazilian companies will allow global merchants to offer a payment method created by the digital bank, broadening access for millions of Latin American consumers to global digital commerce
BRAZIL, JULY 11, 2023 – EBANX, a global fintech specializing in payments for rising markets, and Nubank, one of the world's largest digital financial services platforms, today announced a partnership to offer a new alternative payment method for international purchases, NuPay, a payment method developed by Nubank. The partnership will allow more than 1,600 of EBANX's global merchants to make NuPay available as a new payment method for their customers.
Available to more than 75 million Nubank customers in Brazil, NuPay offers a faster, more convenient payment experience. By choosing NuPay at checkout, the customer is redirected to the bank's app to complete the purchase, without having to provide credit card data every time a new purchase is made on the online store's website or app. The payment method also allows purchases to be paid in up to 12 installments.
"EBANX's partnership with Nubank provides and expands access for millions of Brazilians to the global digital economy by enabling international companies to offer their customers in Brazil a seamless and secure international shopping payment experience directly through the bank application that these consumers already know and trust," said Erika Daguani, VP of Product at EBANX.
"Through this integration, large global brands will be able to offer this payment method to their consumers in Brazil, expanding the opportunity to take NuPay as a recurring and automatic payment method to other online services, such as those that require a subscription," said Lívia Chanes, leader of Nubank's operations in Brazil.
With NuPay, Nubank offers, depending on the user's profile and credit score, extra limits for different purchases. With this, the user can buy products or services at merchants that offer this payment option without using up their credit limit on the Nubank card.
Localized payments to address Latin America's digital commerce
Latin America is a hyper-growth online market, with digital verticals such as SaaS/cloud, digital ads, and online retail growing well ahead of the global average, at CAGRs of 28%, 25%, and 19%, respectively, through 2026, according to EBANX’s data analysis.
The boom in digital commerce has brought new payment challenges and the urgency for localized payment strategies since the region’s population are heavy users of alternative payment methods to credit and debit cards. Alternative payments already account for 39% of the total digital commerce volume in the region.
"Latin America is one of the fastest-growing digital markets in the world, a melting pot of opportunities for all digital verticals, from retail to the SaaS/cloud market. And the most efficient way to address these opportunities is through a localized and diversified payments strategy, tailored to the region's needs and consumer preferences," added Daguani.
About Nubank
Nubank is one of the world’s largest digital financial services platforms, serving over 80 million customers across Brazil, Mexico and Colombia. As one of the leading technology companies in the world, Nubank leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering and human. Guided by a mission to fight complexity and empower people, Nubank is fostering access to financial services across Latin America, connecting profit and purpose to create value for its stakeholders and have a positive impact on the communities it serves. For more information, please visit www.nubank.com.br
About EBANX
EBANX is the leading international payments platform, connecting global companies with customers from the fastest-growing digital markets in the world. The company was founded in 2012 in Brazil with the mission of providing access to international digital commerce. With powerful proprietary technology and infrastructure combined with in-depth knowledge of the markets where it operates, EBANX gives global businesses access to hundreds of payment methods in Africa and Latin America. EBANX goes beyond payments, helping increase sales and fostering seamless purchase experiences.
For more information:
Website: https://business.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx