To help international organisations enter the Latin American (LatAm) market, Spreedly, the open payments platform and EBANX, the global payment service provider, have announced a new partnership.
The partnership comes off the back of the success of alternative payment methods in the region, like Brazil’s Pix, e-wallets and local cards. As digital commerce rapidly grows in LatAm, especially in countries like Brazil, Mexico, and Colombia, international companies are increasingly looking to localise their payment offerings. Now, said firms will be able to access these digital payment options in the region and cater to the diverse payment preferences of consumers there.
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 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 and business development at Spreedly.
“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 per cent and 20 per cent per year by 2027, respectively. In Brazil, the expectation is that the online market, currently valued at an impressive $346billion, will reach $586billion by then,” said Daniel Kornitzer, VP head of global partnerships at EBANX, citing data from Payments and Commerce Market Intelligence – PCMI.
Merchant benefits
Through the partnership between EBANX and Spreedly, merchants will benefit from the high transaction success rates of both fintech companies. “Spreedly’s efficient orchestration and intelligent routing, and EBANX’s optimised 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 optimisation, 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,” said François, from Spreedly.
Booming Pix
Pix, Brazil’s instant payment system, is revolutionising the digital commerce landscape, particularly in the travel vertical. According to PCMI data analysed by EBANX, Pix already accounts for 33 per cent 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.
Streaming platforms and SaaS providers are also benefiting 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 per cent. Merchants using our technology already see a 25 per cent increase in the number of customers and a 16 per cent rise in revenue. Offering Pix is no longer optional; it’s essential,” concluded Kornitzer, from EBANX.
Alternative payments
While alternative payment methods like Pix are on the rise (expected to represent 44 per cent of Brazil’s online sales by 2025), traditional cards still play a significant role in LatAm. Credit and debit cards account for 54 per cent of total digital commerce in the region, with local credit cards comprising a large portion of this total: 21 per cent of the total value, going as high as 34 per cent in Brazil and over 20 per cent 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.
