Spreedly and EBANX Team to Promote Local Payments in LatAm

Open payments platform Spreedly has teamed with payment service provider EBANX.

The partnership, announced Tuesday (April 8), is designed to help international companies access local payment options in the Latin American (LatAm) region.

“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 companies said in a news release. “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.”

According to the release, the collaboration encompasses the 17 LatAm countries in which EBANX operates, from major markets like Brazil, Mexico and Colombia, to newer digital markets like Peru and Chile, along with Central American and Caribbean nations.

“Latin America is on the radar of international companies because it offers solid expansion opportunities, said Daniel Kornitzer, vice president, head of global partnerships at EBANX.

The announcement pays special attention to Brazil’s Pix payment system, with plans to leverage that platform to promote travel payments.

Forty-three percent of Brazilian consumers use Pix daily, compared to 29% who rely on credit cards and 21% who use cash, per research from the PYMNTS Intelligence and Galileo collaboration, “Promising Payments: Digital Payments Gain Ground in Latin America.”

That report also found that 82% of Pix users say that the payment method has a positive impact on their lives and that Brazilian consumers are also fans of digital banking, with 95% of consumer interactions with banks happening via digital channels.

Additional research from PYMNTS Intelligence has showcased the Latin American region’s embrace of digital payment methods. For example, Brazilians one of the most digitally engaged populations in the world, with people there using devices for everything from banking to gaming.

“Other countries, such as Colombia, are also hotbeds of online activity, which in turn means that individuals are willing (and able) to transact with a host of merchants to get what they want, round the clock,” PYMNTS wrote last month.

At the same time, experts have stressed to PYMNTS that companies hoping to do business there need to recognize the importance of local payment methods.

“Each of these countries treats the way money moves around differently — and you need to have someone that has already been through the process, and has any certifications and licenses that you may need to acquire in order to process payments within that country,” Juan Soto, general manager of LatAm for Nuvei, told PYMNTS.