August 24, 2016
Digital River, EBANX Hope to Open Brazil Wider to Cross-Border E-Commerce
Aug. 14, 2014
E-Commerce technology provider Digital River and cross-border e-commerce processing specialist EBANX this week unveiled a partnership that will enable merchants around the globe to sell more easily to consumers in Brazil. The companies said the partnership will enable Digital River merchants to access a fully integrated payment solution without establishing their own local entity in Brazil (a regulatory requirement in the country). The solution, offered jointly by the two companies, enables merchants to accept local payment options including the popular online payment method Boleto Bancario. There is also a recurring billing option that enables merchants to use a subscription model.
“Brazil is the fourth largest payment card market in the world,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “We can help them navigate this highly complex market for cross-border commerce, improve their authorization and conversion rates, and control overhead costs and risks associated with managing their own local entities.”
EBANX CEO Alphonse Voight noted that merchants entering Brazil encounter market dynamics, regulations, tax structures and payment processing schemes that are unfamiliar and complex. The partnership will enable merchants that want to tap Brazil’s large e-commerce user base to leverage local expertise.