According to Beyond Borders 2021/2022, EBANX annual study on the digital market in Latin America based on data from Americas Market Intelligence (AMI), more than half (60%) of the digital commerce in Mexico is transacted with these types of payment methods, such as digital wallets, cash vouchers, or debit and domestic credit cards. The ability to process cash-based transactions, as well as domestic-only cards and other local payment methods in Mexico is still a key factor in reaching and onboarding more consumers. In this context, the possibility of offering various payment methods that are adapted to the needs of Mexican consumers, including those that allow the use of cash, is a key factor to enable faster growth of companies in this market. According to the Association of Mexican Banks (ABM), 53 percent of adults did not have a bank account in 2020. "We are very excited to witness Mexico's digital market growth and to help Mexican companies in their efforts at the local and regional level."Īt the same time that e-commerce grows exponentially in Mexico, one of the main challenges has been the level of Mexicans’ access to financial and banking services. With these new initiatives, we become the ideal strategic ally to help e-merchants grow their operations in Mexico or other LatAm markets,” said João Del Valle, co-founder and CEO of EBANX. “The launch of these local solutions and the opening of the new office are part of our strategy for continuous growth in Mexico, a country where e-commerce is one of the most dynamic and relevant sectors. These new offerings for merchants operating within Mexico are launched together with the opening of EBANX's new office in Mexico City. With this new expansion, Mexican companies will have access to EBANX's comprehensive portfolio of local-payment solutions in the country, with payment methods such as credit and debit cards – including those of national brands – installments, OXXO and OXXOPay, SPEI, and digital wallets such as Mercado Pago. These new local solutions will allow international companies to enter the Mexican market with much greater ease and consolidate their presence. In addition to offering services to help national companies and global giants to expand their sales in Latin America, EBANX now offers new ways for Mexican companies to expand their operations within the national territory, and offer the best payment experiences to Mexican consumers.
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