#Mexico #Mexico City #EBANX #BNPL #APLAZO

EBANX and APLAZO: A New Era for E-Commerce Payments in Mexico

In a strategic move to enhance the online shopping experience for consumers in Mexico, EBANX, a global leader in payment services for emerging markets, has joined forces with APLAZO, a promising fintech startup focused on Buy Now, Pay Later (BNPL) solutions. This partnership is not just another business deal; it represents a shift in how flexible payment options can be integrated into cross-border e-commerce, potentially transforming the retail landscape in the country.

The Significance of the Partnership

For the first time, APLAZO's innovative payment solutions will be accessible to global merchants looking to reach Mexican consumers through EBANX's comprehensive payment platform. This collaboration allows international brands to tap into APLAZO’s technology, enabling them to offer tailored financing options that resonate with local consumers. According to EBANX's analysis, integrating alternative payments like APLAZO with local cards can triple the potential reach for companies selling products in Mexico, thereby opening up vast opportunities in a market with about 72 million potential online shoppers.

Eduardo de Abreu, VP of Product at EBANX, highlights the dynamism of Mexico's market, stating, "E-commerce is poised to grow by 25% annually until 2027, alongside increasing adoption of digital payment methods." The collaboration aims to bolster this growth by meeting the specific payment preferences of Mexican shoppers, which in turn is expected to enhance transaction volumes and customer acquisition for global e-commerce players.

Why BNPL Matters in Mexico

In recent years, the BNPL model has been gaining significant traction worldwide, and Mexico is no exception. Current forecasts suggest that BNPL will see a 20% increase in usage for online sales within the year, and this trend is predicted to accelerate further, with an annual growth rate of 16% projected through 2027. This surge is particularly driven by younger consumers, with data indicating that 38% of millennials and 31% of Gen Z consumers in Mexico are already utilizing BNPL services.

APLAZO's aim is crystal clear: to provide straightforward access to credit in a manner perceived as fair and transparent. With their focus on consumer empowerment, APLAZO intends to facilitate millions of customers within Mexico who might find traditional credit lines challenging or unapproachable. By teaming up with EBANX, the company reinforces its commitment to promoting financial inclusion and accelerating the digitalization of commerce.

Advancements in Payment Solutions

The integration of EBANX and APLAZO's services allows merchants not only to introduce diverse payment solutions but also to enhance the overall customer experience. Given the seamless integration of these infrastructures, merchants can expect benefits such as increased average transaction values, enhanced purchase frequencies, lowered cart abandonment rates, and improved access to previously untapped customer segments. The ability to navigate the complexities of the local payment landscape effectively is crucial for any e-commerce business aiming to establish a foothold in Mexico.

Alex Wieland, CRO and co-founder of APLAZO, emphasizes the impact of the partnership: "Our collaboration with EBANX is pivotal in broadening our reach and helping consumers gain valuable access to credit in an increasingly digital shopping environment."

A Bright Future Ahead

APLAZO has emerged as a significant player in the fintech sector since its inception in 2020, raising over USD 175 million through equity and debt financing, which has fueled its rapid growth in the Mexican market. On the other hand, EBANX has been attuned to the needs of global businesses in Mexico since 2015, connecting international brands with local consumers effectively.

Looking ahead, this partnership promises a scope of opportunities as both companies strategically align their capabilities to make the online shopping experience more user-friendly and accessible. With the BNPL segment poised for considerable growth, EBANX and APLAZO are set to make significant waves in the Mexican e-commerce landscape, propelling the industry towards a more inclusive and innovative future.