Stripe Leverages EBANX for Executing Pix Transactions in Brazil
Stripe, the global payment processing giant, has announced a partnership with Brazil-based EBANX to offer Pix as a payment method for businesses using Stripe. This collaboration is set to significantly impact financial inclusion and growth in Brazil.
Expanding Payment Options for a Broader Audience
By offering Pix, Stripe merchants can cater to a broader Brazilian audience, including those who do not have access to credit cards. Since Pix is widely used by 93% of Brazilian adults, it provides an essential payment method for many consumers who might otherwise be excluded from online purchases.
The integration gives Stripe merchants a competitive edge in Brazil's booming digital economy by allowing them to accept payments in Brazilian reais while settling in their domestic currency, making cross-border transactions more accessible.
Enhancing Financial Inclusion
The partnership helps global merchants expand their reach into Brazil's vast e-commerce market, leveraging Pix's popularity and facilitating purchases for millions of consumers who prefer local payment methods. Given that 60 million Brazilians lack credit cards, the availability of Pix enhances their ability to participate in e-commerce, thus increasing financial inclusion.
Boosting Growth and Revenue
Merchants offering Pix have seen a 16% increase in revenue and a 25% growth in customers within six months, indicating a significant boost in e-commerce sales. This competitive advantage, combined with the popularity of Pix, is expected to drive further growth in the Brazilian e-commerce market.
The Future of Pix
PCMI in EBANX's study Beyond Borders 2025 projects Pix usage to surpass credit cards in online purchases by the end of the year. Transactions using Pix are settled in seconds, available 24/7, and can be initiated using simple Pix keys, such as a phone number, email address, or a QR code.
Strengthening Stripe's Presence in Latin America
Stripe's collaboration with EBANX is important for increasing Stripe users' reach in Latin America's largest market. Stripe has made three recent acquisitions: real-time payments platform Orum, user data API company Privy in June, and stablecoin platform Bridge in February, signalling its commitment to expanding its presence in the region.
EBANX combines technology with market expertise and infrastructure to enable companies across the globe to offer local payment methods and streamline cross-border payments. Stripe's global head for Expansion, Strategics, and Incubation Partnerships, Krishnan Rajagopalan, stated the partnership with EBANX increases Stripe users' reach in Brazil.
João Del Valle, EBANX CEO and Co-Founder, 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 and 93% of Brazilian adults use Pix.
Stripe, which processed more than $1.4 trillion in total payment volume in 2024, is poised to revolutionise the e-commerce landscape in Brazil with the integration of Pix. This partnership is set to empower Brazilian consumers and businesses to participate more fully in the global economy.
Read also:
- Show a modicum of decency, truly
- VinFast's debut EV plant in India, Tata Harrier EV distribution starts, next-gen Mahindra Bolero sightings caught on camera
- Tesla-powered residences in Houston create a buyers' frenzy
- Ford accelerates electric vehicle production with a $2 billion restructuring of its Kentucky factory.
