ABOUT-PAYMENTS SPOTLIGHT|In this edition of the About-Payments Spotlight we give the stage to EBANX.
This Brazilian based payment provider is specialised in helping cross-border merchants to tap into Latin American markets like Brazil and Mexico. Their local knowledge and 100+ alternative payment methods offering allows international merchants to monitize their Latin America operations. Our questions were answered by André Boaventura, Marketing Director at EBANX.
1. How would you describe your business to merchants new-to-game?
EBANX Payments is a local payments expert in Latin America. It is an end-to-end payment solution that processes over 100 alternative payment options.
By using EBANX, your company can accept international credit cards and easily increase approval rates with domestic credit card processing via local acquiring and smart-routing. It will also be able to accept Latin American cash payments, widely used in the region.
Its exclusive methods include the EBANX Boleto with a higher conversion rate than the standard boleto, and an end-user base of over 24 million customers across several Latin American countries.
With one integration, do business with consumers in Brazil, Mexico, Chile, Colombia, and Peru that rely on cash, domestic credit card, and online transfer payments, and receive settlement in your country.
2. What makes you different from other Payment Service Providers / Merchant Acquirers?
Global payment providers try to offer a one-size-fits-all deal, but in order to enter the top emerging markets in the world like Latin America you need a local solution and a local partner.
EBANX is that partner and will help your company succeed with the right tools for exponential growth. As far as unique and special features, it has exclusive products, an end-to-end business model, in-house fraud prevention team and customer service, and working relations with acquirers across the region.
3. What are the triggers for online merchants to switch to your platform?
Unlike global processors, EBANX can process local payments as well as international credit cards. Merchants can access the entire population of consumers in Brazil, Mexico, Chile, Colombia, and Peru using EBANX's solutions, and with local acquiring, smart-routing, exclusive cash payment features, and advanced anti-fraud systems merchants can expect higher conversion rates than with other competitors.
4. What merchants or markets are you targeting?
EBANX's solutions are perfect for any global merchant wanting to expand or enter the Latin American market. Since there is a recent trend between Chinese merchants such as Alibaba and other Asian sellers to expand to emerging markets, EBANX have grown its base among merchants from this region – as well as among the US and Europe.
Saas providers also find EBANX's solutions easily implementable and convenient since their products don’t depend on cross-border shipping and logistics. The company is also expanding its services among merchants within Latin America wanting to sell cross-border to other Latin American countries.
5. How can merchants integrate with your platform?
Integration with EBANX is easy, safe and fast. Merchants can choose between a direct API; EBANX checkout that redirects customers to a secure and high-conversion-rated checkout page; plugins and extensions supported by the main e-commerce platforms such as WooCommerce, PrestaShop, and Magento; and requesting payments via link (an option that you can test within minutes of signing-up).
In EBANX's Developer’s Academy, merchants can find information on all EBANX's integration options, guides, libraries, iOS and Android SDKs, and more.
6. What may merchants expect in nearby future from your company?
When EBANX first started it was robust, focusing solely on major players such as AliExpress and Wish. However, over the last two years, the company chose to open the doors and be more adaptable to businesses of all sizes.
One of its goals is to connect small and medium businesses from around the world to the consumers in Latin America, not only by offering local payment solutions but also by easing communication channels via social media, marketing consulting, and improved customer service.
Many of EBANX's latest and future products will be tailored to meet the needs of SMBs expanding and growing in Latin America or to empower consumers that will buy their products.
7. What are the important trends in online payments from your point of view?
With the growth of e-commerce and the targeting of emerging markets simultaneously increasing in popularity, online payments became essential – and, even more so, local online payments.
Without online payments, e-commerce loses its convenience and purpose, and although e-commerce is universally accessible, in emerging markets (where the most potential for business growth lies) online payments need to be localized – meaning the online payments must mimic the payment methods that customers use in their home country.
These payment methods in Latin America usually are cash or debit based, and for an e-commerce to successfully expand in the region, it must offer an online version of them. Using this strategy, e-commerce industry leaders can successfully enter new markets around the world.
8. What is your best advice to merchants expanding their business cross-border?
If you want to sell to booming e-commerce markets such as Latin America, look for ways other than establishing an entity in the region. By using EBANX, you can test the market in two weeks rather than six months – that would take you to establish in some Latin American countries before start selling – without dealing with any of the foreign bureaucracy.
9. Cards and Alternative Payment Methods: Competitors or Best Friends?
We would definitely consider alternative payments as friends to credit card payments – and both are your business’ friends. When the card payment is rejected because it’s not an internationally accepted card, it’s a debit card, or its limit is too low or maxed-out, that is when an alternative method can save the customer from leaving the website and never returning.
With EBANX, merchants can accept local payments and credit cards so they never have to choose between which public to attend to when targeting customers.
EBANX Payments revolutionized the market in Brazil when it first enabled international merchants to accept alternative local payment methods.
Since its founding, in 2012 EBANX partnered with more than 400 merchants such as AliExpress, Wish, Udacity, Spotify, Airbnb, and Pipedrive. The company processed its first Mexican payment in March 2015, opening another market in Latin America to international sellers.
By September 2017, it has reached over 24 million unique end-users who purchase internationally. Currently there are almost 300 ebankers strong and growing quickly, who refuse to leave their beautiful HQ in Curitiba, in the South of Brazil.
Who are your Payment Partners?
Because of strategic issues, we don’t openly discuss our acquirers on media, but we do have solid working relationships with multiple acquirers across Latin America.
Are there any upcoming events where merchants can meet you?
EBANX Payments will hold an exhibition at Money 20/20 “The World’s Largest Payments & Financial Services Innovation Event” in Las Vegas, on October 22-25, 2017. In January 14-16, 2018 we will hold an exhibition at NRF, Retail’s BIG Show in New York. We will also attend Money 20/20 Asia in Singapore, on March 13-15, 2018. We look forward to meeting merchants from around the world at these major events.