APLAZO, the Mexican fintech specialising in buy now pay later (BNPL), will now be utilised for cross-border e-commerce purchases as the firm partners with EBANX, the global paytech specialist for emerging markets.
Purchases made through EBANX‘s payment platform will have the option to use APLAZO as the organisations look to provide more flexibility for merchants and their customers in Mexico. The integration of EBANX and APLAZO solutions will enable merchants to potentially generate tangible benefits, including increased average ticket size, higher purchase frequency, reduced cart abandonment, and access to new market segments, all through a seamless and straightforward integration.
Global companies looking to get into the Mexican market will be able to reach three times the amount of consumers in the country by combining alternative payments like APLAZO with local cards, rather than relying solely on international acquirers. According to Payments and Commerce Market Intelligence (PCMI), this allows merchants to target an additional 72 million people.
PCMI also found that BNPL in Mexico is expected to grow by 20 per cent in online sales this year and will continue to accelerate at an annual rate of 16 per cent through 2027. This growth is being driven by strong adoption among younger generations. Data from APLAZO shows that 38 per cent of millennials and 31 per cent of Gen Z consumers in Mexico already use BNPL as a payment method.
EBANX’s presence in Mexico
“Mexico is one of the most dynamic markets in Latin America, where e-commerce is expected to grow 25 per cent annually until 2027, with digital payment adoption aligned with this growth,” says Eduardo de Abreu, VP of product at EBANX, citing PCMI data. “Partnering with APLAZO will allow us to expand our local reach and offer our global clients an alternative that directly responds to the preferences of Mexican consumers.”
EBANX has consolidated its presence in Mexico since 2015, facilitating local payments for global companies and connecting over 500 of the world’s largest digital companies with customers in 29 countries across Latin America, Africa, and Asia.
Understanding the APLAZO mission
APLAZO has secured over $100million in equity financing and $75million in debt financing since its launch in 2020. Its focus on fair and transparent financial solutions has been key to its rapid expansion in the Mexican market.
“Our aim at APLAZO is to provide access to credit in a fair, simple, and transparent manner. This partnership with EBANX reinforces our commitment to facilitating access to financing for millions of consumers in Mexico and accelerating the digitalisation of commerce in the country,” says Alex Wieland, CRO and co-founder of APLAZO.
