EBANX Payments Brings Latin America Expertise to Money20/20

  • Payments , Banking
  • 19.10.2017 07:34 am

One of the most important events in the world of payments and financial services, Money20/20 will start on October 22nd in Las Vegas. Latin American local payments processor EBANX Payments––that processes payments for global companies such as AliExpress, Wish, Udacity and other major global brands––will have nine Latin Americaexperts in attendance at Booth 1657. Companies eager to start or increase their sales in Brazil, Mexico, Argentina, Chile, Colombia, and Peru will be able to talk to them in person at the event.

Attendees will be able to discover and learn more about EBANX’s extensive services and the Latin American payments landscape, which works differently than other regions'. For instance, shoppers in Latin America like to pay for online purchases using local cash payment methods. As strange as it may sound, generating an OXXO voucher online and then personally going to an OXXO convenience store to pay for it with cash is completely common and an expected payment option for e-commerce in Mexico. The same goes for theboleto bancário, or boleto for short, in Brazil, and the Vía Baloto in Colombia.

By offering local payment methods such as the OXXO voucher, boleto bancário, and the Vía Baloto it is possible to reach the unbanked Latin American consumers, which represents 49% of the population in Latin America, according to 2015 data from World Bank reports.

Even Latin American citizens with bank accounts, who could access debit and credit cards, choose these cash payment methods. A survey conducted by EBANX in July of this year regarding the usage of boleto bancário in Brazil showed that 71% of shoppers who paid for online cross-border purchases via this payment method had personal checking accounts. Brazilians trust, place their confidence and have experience paying with the boleto bancário, since many utility bills are paid with this solution. By not offering local payment methods, global merchants are missing out on a valuable consumer base in Brazil and throughout the region.  

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