Stripe Partners with EBANX to Handle Pix Payments in Brazil
In a significant move to expand its reach in Brazil, the largest market in Latin America, Stripe has announced a partnership with EBANX. This collaboration will allow Stripe's business customers to offer Pix as a payment method.
Pix, operated by Brazil's central bank, is an instant payment system that enables real-time money transfers in Brazilian reais. The partnership with EBANX will enable businesses directly integrated with Stripe and those with ecommerce management platforms that use Stripe to offer Pix at checkout.
Krishnan Rajagopalan, Stripe's global head for Expansion, Strategics, and Incubation Partnerships, stated that the partnership is significant for increasing Stripe users' reach in Brazil. EBANX, founded in 2012 to help expand international ecommerce, combines its technology with market expertise and infrastructure to enable companies across the globe to offer hundreds of local payment methods and streamline cross-border payments.
The collaboration is expected to expand merchants' prospective clients in Brazil, as adding the new payment method will likely lead to an increase in revenue and consumer reach. Data from EBANX shows that merchants offering Pix experienced a 16% increase in revenue and a 25% growth in consumers within six months.
EBANX's data, based on Payments and Commerce Market Intelligence (PCMI), the World Bank, and the Central Bank of Brazil, suggests that 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 partnership also supports financial inclusion by facilitating acceptance of Pix, an instant payment system accessible even to unbanked or underbanked individuals. EBANX CEO and Co-Founder João Del Valle stated that working with Stripe to offer Pix is a no-brainer, as there are 60 million people in Brazil who lack a credit card, while 93% of Brazilian adults use Pix.
Stripe, which processed over $1.4 trillion in total payment volume in 2024, has made three notable acquisitions recently: real-time payments platform Orum, user data API company Privy, and stablecoin platform Bridge. Settlements will be available in domestic currency for businesses using Stripe and Pix, making transactions more convenient for merchants.
Pix transactions are settled in seconds, available 24/7, and are designed for person-to-person, person-to-business, and government transactions. The data from the acquisitions were not specified in the provided paragraph.
The Stripe-EBANX collaboration plays a crucial role in integrating Brazil's innovative Pix system into global digital commerce, facilitating smoother payments, enhancing financial inclusion, and unlocking new growth opportunities for merchants and consumers alike. The partnership exemplifies leveraging a mix of payment options including instant payments like Pix, digital wallets, and traditional cards, to meet diverse preferences and drive SaaS and other digital businesses' expansion in Brazil and broader Latin America.
Read also:
- Hematology specialist and anemia treatment: The role of a hematologist in managing anemia conditions
- Enhancing the framework or setup for efficient operation and growth
- Hydroelectric Power Generation Industry Forecasted to Expand to USD 413.3 Billion by 2034, Projected Growth Rate of 5.8% Compound Annual Growth Rate (CAGR)
- Increased tariffs resulting in higher prices at Shein and other Chinese fast-fashion retailers
