Visa Cybersource established a partnership with EBANX for clients to provide domestic payment options for their Brazilian consumers. This comes after finding local credit cards as the fastest-growing payment method within the country, according to the most recent study from EBANX and Americas Market Intelligence. Here is a quick excerpt from the story:
Local credit cards had been the fastest-growing payment method within the e-commerce sector in Brazil last year – with a 23% increase in overall usage – considering segments such as online retail, digital goods & services and travel, as confirmed by data from EBANX/Americas Market Intelligence – AMI.
These are reportedly the same credit cards that support installments, frequently used by consumers residing in Brazil – and recent data from the Brazilian Internet Association (Abranet) reveals that 75% of credit card users in the country have been splitting their payments into more manageable installments.
These are two of the main payment preferences within Brazil, which is one of the fastest-growing digital commerce markets in the world. It’s on track to expand by over 40% in 2021 and maintain an accelerated double-digits pace of growth for the next few years, according to data provided by EBANX/AMI data.
Read the full story here.