Where some of the biggest Chinese tech companies plan their business expansion to Brazil
May 23, 2017
Chinnovation 2017, on May 30th, will be the largest meeting between China and Brazil's internet players. EBANX, Brazilian company that helped AliExpress' expansion to Brazil, will attend
CURITIBA, BRAZIL, May 23, 2017 – On May 30th, Chinese companies such as Baidu, Didi, Meitu, Kuaishou and Chetaah Mobile will participate in São Paulo, Brazil's business hub, at Chinnovation 2017, the largest meeting between China and Brazil's internet players. The presence of Chinese technology companies in the Brazilian reality is growing stronger, following AliExpress’ lead, which is currently the international selling website that sells the most for people in Brazil.
These players, who wish to expand their operations even further to other countries, will have contact with Brazilian companies, from those which have received Chinese investments - including theirs - to fintechs that can help them in this expansion. The purpose of the meeting is to foster the exchange of information and networking between the two nations. "The rise of innovations originating in China, such as mobile payment services, online to offline, monetized mobile utilities and the wave of artificial intelligence is something that should benefit the Brazilian internet as well as the well-known Chinese appetite for Brazilian assets", says Yan Di, country manager of Baidu and president of China-Brazil Internet Promotion Agency (CBIPA), institution that is promoting the event in partnership with Baijing, a Chinese media platform and support for the internationalization of Asian companies.
Among the Brazilians participating in Chinnovation 2017, there will be more than 500 executives from various technology companies, such as the fintech that helped AliExpress enter the Brazilian market, EBANX, that provides specific local payment solutions from Latin America to global sites. Using their experience in working with Chinese merchants such as AliExpress, Banggood, and GearBest, EBANX aims to be the symbol of exchange between China and Brazil. That’s why this year, EBANX is one of the sponsors of Chinnovation 2017.
Local payments and AliExpress' case
The story of EBANX with China is fairly recent but successful: since 2013 the company has processed payments for purchases made on the AliExpress website by people in Brazil. The e-commerce of the Chinese group Alibaba is the international website that sells the most to the country and among its strategies to reach this level is the acceptance of local payment methods.
Having an ecommerce that accepts international credit card is not enough to reach the entire Brazilian population. That's because in the country, only 19% of the population has an international credit card (that can process transactions in a foreign currency). Of this total, 40% prefer not to provide credit card data online.
In order to reach all Brazilians, it is necessary to understand Brazilian buying habits, such as the massive use of the Boleto Bancario, a cash payment used to pay for public and private utility bills, and buy goods at physical or online stores.
The deep knowledge of this and other customer habits in Brazil allowed EBANX to be the bridge needed for AliExpress to reach more Brazilians. EBANX Payments allows all Brazilians to buy on the Chinese website, by enabling the e-commerce to accept Boleto Bancario, local credit card, and bank transfer payments.
EBANX is a Brazilian fintech that offers Latin American local payment methods on international websites. The company provides solutions for merchants such as AliExpress, the international website that sells the most to Brazil, Airbnb, Spotify, Sony, GearBest, and Banggood. Today, EBANX's presence is beyond Brazilian borders and is changing the way consumers in Mexico, Colombia, Chile, and Peru pay on international websites. Now, during its fifth year of operation, EBANX has already enabled more than 20 million people in these countries to access global products and services, as well as enabling global e-commerce to reach new audiences. For more information visit: https://business.ebanx.com/en/.
Statement about the commitment term between EBANX and the Central Bank of Brazil signed on February 14, 2020
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