FastSpring & EBANX Partner to Expand Pix Payments in Brazil
FastSpring, the merchant of record for global SaaS and software companies, has partnered with EBANX – the paytech specialising in local markets – to enhance users’ payments experience within the FastSpring product suite through Pix, Brazil’s real-time payments (RTP) method.
Introduced by the Central Bank of Brazil in 2020, Pix has gained rapid popularity among consumers as a preferred payment method of choice.
The nation’s RTP network, Pix has grown so popular that in EBANX’s annual study, Beyond Borders, it is expected to account for 40% of the total value of digital commerce in Brazil by 2026.
Removing the need for payments to be processed by intermediaries like Visa and Mastercard, RTP networks like Pix threaten a long-established method for processing payments globally.
Credit card infrastructures employ technology first founded in the late 1950s, and while market leaders like Visa and Mastercard have long acted as the ‘go-to’ intermediaries for processing payments – Pix removes the need for these ‘middlemen’, and associated costs.
EBANX and FastSpring: Tapping into RTP
Tapping into the growing popularity of RTP networks, FastSpring’s integration with EBANX’s Pix payments processing capabilities will expand the availability of Pix, enabling global SaaS, software, video game and digital product companies to offer Pix payments to Brazilian customers.
Digital product companies in Brazil can now leverage FastSpring’s platform to power their global expansion too, while maintaining Pix payments as the method of choice for native customers.
Dan Garcia, Sr. Director of Payments, Risk and Compliance at FastSpring, says: “This partnership with EBANX allows FastSpring to leverage local payments, starting with the largest Latin American market, by delivering one of the country's preferred payment methods.
“The FastSpring platform enables sellers of digital goods to accept the most popular global payment methods. Adding Pix opens up the Brazilian market to new buyers who do not have internationally enabled cards.
“It’s a must-have payment method in Brazil. Our partnership with EBANX enables this code-free upgrade for our customers.”
The integration marks FastSpring’s debut in accepting Pix payments, reinforcing its commitment to providing localised payment solutions to clients in Latam.
By partnering with EBANX, FastSpring can leverage its extensive regional knowledge and infrastructure to enhance the payments experience for its customers.
Gregory Cornwell, Vice-President of Channels and Business Development at EBANX, adds: “The collaboration between FastSpring and EBANX means a significant step forward in providing tailored payment solutions for digital product companies operating in Brazil.
“By integrating Pix payments into FastSpring's platform, we are facilitating access to a key payment method in the Brazilian market, ultimately enabling businesses to expand their reach and drive growth."
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