Announced during the opening day of VTEX DAY, the collaboration between the two Brazilian unicorns will enable more flexible, efficient platform integrations to simplify payments for businesses looking to expand in the region
CURITIBA, BRAZIL, April 12, 2022 – EBANX, a payments fintech with a global presence, and VTEX, a digital commerce platform for large companies and retailers, today announced an unprecedented partnership aimed at broadening cross-border payments for Brazilian e-commerce companies in Latin America. Through this union, Brazilian companies will be able to enjoy more than 100 payment methods in 15 countries across Latin America.
"We are very happy with this announcement of a new partner as important as VTEX, which shares our vision of efficiency, agility and providing more access to cutting-edge technology. The cross-border market in Latin America will move around US$45 billion in 2022, according to data from our latest Beyond Borders study, and it is time for major Brazilian players to take advantage of this opportunity to expand their business. In addition to the first-rate product, these customers can now take advantage of EBANX's experience after more than 10 years in the region, to make it easier to deal with the various legislation and payment types in different countries," said Paula Bellizia, President of Global Payments at EBANX.
According to the Beyond Borders study, in 2021, 68 percent of Latin American consumers were already e-commerce users – a rate well above the 45 percent in pre-pandemic years. As a result, it is estimated that in the last two years more than 150 million Latin Americans have purchased online for the first time. Latin America is a global leader in e-commerce expansion today. The region is expected to grow 30 percent per year through 2025, an acceleration comparable only to that of Asian markets, according to the study.
For Astha Malik, Chief Operating Officer (COO) at VTEX, the union is a way to leverage this good moment in the market and a reflection of the evolution of the services that the company offers to its customers. "With this partnership, we reinforce one of the pillars of the VTEX platform, which is to offer our customers new ways to grow their business through a complete solution. With our connected ecosystem, brands and retailers can explore new business models, and optimize and grow their operations. EBANX brings technology and experience in the right measure so that our customers can expand their business even further throughout Latin America," she said.
In 2021, EBANX grew more than 110 percent in processed volume and the arrival of Paula Bellizia as the company’s president further strengthens the focus on international expansion and diversification of portfolio and partnerships. Today, the company has operations in 15 countries, teams located in more than 10 countries, more than 1,700 ebankers, from more than 20 nationalities. It offers more than 100 local payment methods in Latin America to more than 1,000 global customers such as SHEIN, Shopee, Spotify and Uber, and to more than 35,000 merchants in Brazil.
About EBANX
EBANX is the leading payments platform in Latin America, connecting more than 35,000 global and regional companies with customers from one of the fastest-growing digital markets in the world. The company was founded in 2012 with the mission of giving access to Latin Americans to purchase from international e-commerce merchants. Using powerful proprietary technology and infrastructure, EBANX allows companies with local or international operations to connect with hundreds of payment methods in different countries. EBANX goes beyond payments, increasing sales and fueling seamless purchase experiences for companies and consumers. For more information, visit https://business.ebanx.com/en/
About VTEX
VTEX (NYSE: VTEX) provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Our platform enables our customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. Founded in Brazil, we have been a leader in accelerating the digital commerce transformation in Latin America and are expanding globally. Our platform is engineered to enterprise-level standards and features. We are trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries, who rely on VTEX to connect with their consumers in a meaningful way*. Visit www.vtex.com to learn more.
*Figures as of FY ended on Dec. 31st, 2020