Stripe partners with EBANX to enable Pix payment processing in Brazil
Stripe, the renowned payment processing company, has announced a strategic partnership with EBANX, a Brazil-based fintech firm, to bring the Brazilian central bank's instant payment system, Pix, to Stripe's global merchants.
The partnership aims to empower Brazilian consumers and businesses, enabling them to participate more fully in the global economy. By integrating Pix via EBANX, Stripe's business customers and merchants using ecommerce platforms tied to Stripe can now accept the central bank's instant payment system at checkout.
Pix, launched in November 2020, is a real-time money transfer system that enables instant transactions in Brazilian reais. According to EBANX's estimates, offering a local payment option in cross-border transactions can enable global ecommerce companies to reach twice as many consumers in Brazil compared to relying solely on international acquirers.
The integration targets financial inclusion and growth, giving global merchants access to 60 million Brazilians without credit cards. In fact, data shows that merchants who added Pix saw a 16% increase in revenue and a 25% growth in customers within six months.
The partnership simplifies cross-border commerce by allowing merchants to process payments in Brazilian reais and receive settlements in their own domestic currency. This eliminates currency complexity for global businesses, making international transactions smoother and more efficient.
EBANX brings deep knowledge of Brazil’s payment ecosystem, while Stripe offers worldwide reach and programmable financial services. Together, they provide a seamless solution for global merchants to accept Pix payments.
Stripe's global head for Expansion, Strategics, and Incubation Partnerships, Krishnan Rajagopalan, stated that the partnership with EBANX is crucial for increasing Stripe users' reach in Brazil, Latin America’s largest market.
EBANX is a Brazil-based company founded in 2012 to help expand international ecommerce by combining technology, market expertise, and infrastructure. Transactions via Pix are settled in seconds, available 24/7, and designed for person-to-person, person-to-business, and government transactions. Users can send funds using simple Pix keys, such as a phone number, email address, or a QR code.
This partnership effectively bridges local payment preferences with global merchant capabilities, enabling smoother, faster, and more customer-trusted payment experiences in Brazil using Pix.
In addition to this partnership, Stripe has made three notable acquisitions recently: real-time payments platform Orum in March, user data API company Privy in June, and stablecoin platform Bridge in February. These acquisitions demonstrate Stripe's ongoing expansion efforts in Brazil and its commitment to providing innovative financial solutions to businesses worldwide.
By integrating Pix via EBANX, Stripe's business customers and merchants using ecommerce platforms tied to Stripe can now accept the central bank's instant payment system at checkout, thereby empowering Brazilian consumers and businesses to participate more fully in the global economy. This partnership, bridging local payment preferences with global merchant capabilities, also showcases Stripe's ongoing expansion in technology and finance, as demonstrated by its recent acquisitions of Orum, Privy, and Bridge.
