Cybersource, a Visa solution, and Ebanx, an international payments fintech that focuses on Latin American (Latin America) markets, has entered into a payment processing partnership in Brazil.
Cybersource customers around the world will have access to EBANX’s payment services for Brazil and will offer their customers in the South American nation the ability to make online payments for products and services using payment methods. national payments, such as local debit cards, credit cards, and installments.
Fernando PantaleÃ£o, Vice President of Visa (Brazil), said:
âBrazil is a strategic market for global retailing, but it is also a very demanding country. The Payment Gateway is a cybersource solution that expands international business globally by providing easy access to a global network of payment connections and trusted sources of regional expertise. We offer a range of integrations that make it easy for merchants to accept payments securely and create seamless payment experiences across multiple channels and devices.
Local credit cards were the fastest growing payment method in Brazil’s e-commerce industry last year – with a 23% increase in overall usage – considering segments such as retail online retail, digital goods and services and travel, as confirmed by data from EBANX / Americas Market Intelligence – AMI.
These are apparently the same credit cards that support installments, frequently used by consumers residing in Brazil – and recent data from the Brazilian Internet Association (Abranet) shows that 75% of credit card users around the country have divided their payments into more manageable installments. .
These are two of the main payment preferences in Brazil, which is one of the fastest growing digital commerce markets in the world. It is set to grow by more than 40% in 2021 and maintain an accelerated double-digit growth rate over the next few years, according to data provided by EBANX / AMI data.
Henrik nilsmo, EBANX Commercial Director, said:
âHaving a localized payments strategy that takes into account domestic installments and credit and debit cards is a critical way to capture the potential of Brazil’s growing digital commerce sector. It’s a powerful thing, when you pay attention to consumer behaviors and reflect them in new products for your customers. This is precisely what Cybersource does and why we have decided to partner with them in this endeavor. This ultimately means more bridges and more access for Brazilians and global businesses. “