EBANX and Amazon have announced a partnership to enable Colombian consumers to pay for purchases within Amazon in their local currency and using local payment methods.
Announced at the Latin America Summit, EBANX annual event about business in the region, this is the first step on a strategic expansion of the two companies in the region, as they mentioned at the presentation at the summit. In addition to Colombia, EBANX have operations in Brazil, Mexico, Argentina, Chile, Peru, Ecuador, Bolivia, and Uruguay so as Amazon expands in the region they have a payments partner which can offer over 100 Latin American local payment options.
“We are really excited about the opportunity in Colombia. With the large population, we believe there is a lot of upside. By partnering with EBANX, we hope to get access to a lot more customers out there. We are looking to enable more local options. I think it all starts with the customer. That’s kind of what we live and die by at Amazon. Always start from the customer and work backwards.”
– Srinivas Rao, director of digital and emergent payments, Amazon
The implications of this might be slightly lost on merchants for which they can be forgiven. On Amazon, with either a Vendor or Merchant agreement all you see is the currency you pay in and Amazon disburses the funds every couple of weeks. The beauty of Amazon is that they take on the heavy lifting of dealing with local payment methods that consumers use.
The partnership with Amazon leverages advanced technological products that are perfectly aligned with EBANX’s vision of increasing access to the digital economy with a focus on the customer – especially in uncertain times the world finds itself in lately.
“All the circumstances that we have faced in 2020 showed that paying attention to customers’ needs and focusing on localized solutions are the best ways to thrive in such a rich and diverse region as Latin America. Enabling Colombians to access goods and services from global companies, such as Amazon, is the most perfect realization of that vision.”
– João Del Valle, co-founder and COO, EBANX