The agreement will enable companies like Busbud and Rocket Travel by Agoda to offer local payment methods, such as Pix, e-wallets, and local cards
Recognizing the success of alternative payment methods in Latin America like Brazil’s Pix, e-wallets, and local cards, Spreedly, the leading Open Payments Platform, and EBANX, a global payment service provider specialized in emerging markets, have teamed up to offer international companies seamless access to these options in the LatAm region. This partnership enables global merchants, including travel companies Busbud and Rocket Travel by Agoda, to cater to the diverse payment preferences of Latin American consumers.
Financial Technology Insights: Temenos Unleashes On-Premises GenAI for Banking with NVIDIA
As Latin America’s digital commerce rapidly grows, especially in countries like Brazil, Mexico, and Colombia, international companies are increasingly looking to localize their payment offerings. The partnership provides a unified framework for businesses to offer payment methods like Pix, e-wallets, cash vouchers, and debit and credit cards, including local brands and installments.
Spreedly and EBANX announce partnership expanding LatAm digital commerce coverage
“Latin America is a key market for global expansion, with diverse payment preferences driving success. Our collaboration with EBANX empowers merchants to offer local payment methods, enhancing customer satisfaction while supporting business growth in the region,” said Rose François, VP of Partnerships & Business Development at Spreedly.
Financial Technology Insights: SBI Digital Markets, UBS, Chainlink Complete Pilot for Smart Contract Fund Admin
The partnership extends to all 17 countries EBANX operates in Latin America, from the largest markets like Brazil, Mexico, and Colombia, to newer digital markets like Peru, and Chile, as well as countries in Central America and the Caribbean.
“Latin America is on the radar of international companies because it offers solid expansion opportunities. Mexico and Peru, for example, are emerging digital markets with a growth potential of 25% and 20% per year by 2027, respectively. In Brazil, the expectation is that the online market, currently valued at an impressive USD 346 billion, will reach USD 586 billion by then,” said Daniel Kornitzer, VP Head of Global Partnerships at EBANX, citing data from Payments and Commerce Market Intelligence – PCMI.
The Pix Phenomenon
Pix, Brazil’s instant payment system, is revolutionizing the digital commerce landscape, particularly in the travel vertical. According to PCMI data analyzed by EBANX, Pix already accounts for 33% of online travel payments in the country. “Integrating Pix with our platform allows for faster, secure, and low-cost transactions, which are crucial for travel companies serving international customers,” said François, from Spreedly.
Financial Technology Insights: Paxos to Acquire Finnish E-Money Institution Membrane Finance
Streaming platforms and SaaS providers are also benefitting from Pix, especially with the upcoming Pix Automático feature, which will enable recurring payments starting in June 2025. “Over the past year, Pix transactions processed by EBANX have grown by 139%. Merchants using our technology already see a 25% increase in the number of customers and a 16% rise in revenue. Offering Pix is no longer optional; it’s essential,” concluded Kornitzer, from EBANX.
The Cards and Alternatives Mix in Latin America
While alternative payment methods like Pix are on the rise (expected to represent 44% of Brazil’s online sales by 2025), traditional cards still play a significant role in LatAm. Credit and debit cards account for 54% of total digital commerce in the region, with local credit cards comprising a large portion of this total: 21% of the total value, going as high as 34% in Brazil and over 20% in Argentina and Ecuador, per PCMI data.
“Cards continue to play an essential role alongside emerging methods like Pix. Companies must integrate multiple payment options to meet the diverse needs of customers,” Kornitzer added.
Benefits for Customers and Merchants
Through the partnership between EBANX and Spreedly, merchants will benefit from the high transaction success rates of both fintech companies, which are above the industry average. “Spreedly’s efficient orchestration and intelligent routing, and EBANX’s optimized payment rails, direct integrations, and local acquiring partnerships, enable faster, more secure transactions,” explained Kornitzer. “This helps improve customer satisfaction and loyalty.”
Merchants also benefit from easy integration, access to multiple local markets, and a broad range of payment options, enabling scalability, cost optimization, and compliance with local regulations. “This partnership combines Spreedly’s advanced payments orchestration with EBANX’s local expertise, providing a seamless payment experience for customers and helping businesses scale efficiently across Latin America,” concluded François, from Spreedly.
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com
Source – Businesswire
