EBANX, a Brazilian fintech known for providing payment solutions from Brazil and other countries in Latin America to global businesses, started offering to its international merchants the virtual debit card recently launched by the Brazilian Caixa Econômica Federal. Thus, international merchants of EBANX can offer this payment method to their Brazilian consumers.
Currently, only 3.5% of online transactions in Brazil are made using debit cards, according to a survey by AMI (Americas Market Intelligence) – which is, however, one of the most popular payment methods among Brazilians. There are about 115 million active debit cards in the country, according to the Central Bank of Brazil, against 98 million credit cards.
"The acceptance of Caixa Econômica Federal's new virtual debit card further reinforces EBANX's greatest goal: to create access. It is a way of bringing even more into the global e-commerce an entire Brazilian population that uses this payment method. And at the same time, to create the bridge so that the greatest websites in the world can reach these consumers," said Erika Daguani, B2B product director at EBANX.
The new EBANX solution is available to all international websites that are clients of the fintech, and who want to offer this payment method to Brazilians. In order to start offering it, the website must integrate the EBANX solution as a new option in its checkout.
On the side of Brazilian consumers who have Caixa's debit card, they only need to choose debit as the payment method at the checkout of the websites they are purchasing from, if this is an option offered by the website itself.