Stripe users in Brazil now have the option to accept Pix payments through EBANX.
In a significant move for the e-commerce industry, global companies operating in Brazil can now significantly increase their revenue and consumer reach by offering Pix as a payment method. According to a study by EBANX, "Beyond Borders 2025", Pix accounts for 51% of the value of online B2B sales in Brazil, more than double its share in consumer e-commerce.
With Pix, businesses can benefit from transacting high-value payments securely and efficiently. The popular instant payment method, developed by the Central Bank of Brazil, is used by 93% of Brazilian adults and is projected to surpass credit cards in online purchase usage by the end of 2022.
Stripe, a leading payments platform, has deepened its partnership with EBANX to expand coverage of Brazilian payment methods worldwide. Both businesses directly integrated with Stripe and those using large e-commerce management platforms that use Stripe's infrastructure can now offer Pix for cross-border transactions. Settlements for Pix payments are available in the merchant's domestic currency, facilitating cross-border commerce.
Stripe's research shows that businesses on its platform offering at least one additional local payment method beyond cards grow revenue by 12% and improve conversion by 7% on average. Krishnan Rajagopalan, global head for Expansion, Strategics and Incubation Partnerships at Stripe, stated that enabling various payment methods impacts the bottom line for businesses on Stripe.
By offering local payment methods in cross-border transactions, global e-commerce companies can reach twice as many consumers in Brazil compared to relying solely on international payment methods. This is according to EBANX's analysis of data from Payments and Commerce Market Intelligence (PCMI), the World Bank, and the Central Bank of Brazil.
In addition to Pix, Boleto Bancário is another popular local payment method in Brazil, with 25% of online B2B value transacted using it. Despite this, Pix's broad adoption drives financial inclusion, digital service usage, and boosts the SaaS market in Latin America, with 61% of SaaS company revenue in Brazil coming via Pix payments processed through EBANX.
EBANX is a global technology company specializing in payment services for emerging markets. João Del Valle, CEO and Co-founder of EBANX, stated that working with Stripe to offer Pix empowers Brazilian consumers and businesses to participate more fully in the global economy.
According to EBANX's data, merchants offering Pix experienced a 16% increase in revenue and a 25% growth in consumers within six months. This underscores the importance of payment method relevance to consumers and the potential benefits for businesses adopting Pix as a payment option.
In conclusion, implementing Pix as a payment option empowers global e-commerce companies to tap into Brazil’s large and digitally savvy market, boosting revenues, increasing consumer base, and facilitating smoother cross-border transactions with local currency settlements.
Technology and finance in the e-commerce industry have become even more intertwined with the integration of Pix, a popular instant payment method developed by the Central Bank of Brazil. By offering Pix as a payment option, businesses can increase their revenue and consumer reach in Brazil, as shown by EBANX's analysis, with merchants experiencing a 16% increase in revenue and a 25% growth in consumers within six months.
