Payments company Ebanx has expanded payment opportunities within the Brazilian market, through a new partnership with PayPal.
The collaboration specifically benefits purchases of global products and services, with PayPal users in the country now being able to use the digital wallet to buy on international websites that integrate with EBANX’s solution.
Erika Daguani, B2B product director at EBANX commented: “The EBANX solution means more ease for websites, which can integrate with EBANX and reach a digital wallets market in Brazil that already has around 50 million users, and is growing steadily.
“Digital wallets are gaining more and more room in Brazil, and they are an instrument of financial access for thousands of Brazilian consumers who do not have a bank account or credit or debit card, or who simply opt for the ease of having the data already stored in one single place.
“They help bring all of these consumers into the online shopping world. Connecting these people to global websites makes perfect sense with EBANX’s mission of creating access through payment solutions.”
With the movement, thousands of Brazilian consumers will have another way to access global products, as well as consumers who pay with their e-wallets as a matter of preference.
The digital wallets market has been growing year by year. Worldwide, payments with them on e-commerce are expected to jump from over 30% in 2018 to almost 50% in 2022, according to Bain consultancy in a publication last year. In Brazil in 2019, digital wallets were the third most used payment method for e-commerce purchases, representing 14% of transactions, according to AMI (Americas Market Intelligence).