In a strategic move aimed at enhancing the payment experience for users in Brazil, FastSpring, a leading merchant of record for SaaS and software companies, has joined forces with EBANX, a paytech firm specializing in local markets. This partnership aims to integrate Pix, Brazil’s real-time payments (RTP) method, into the FastSpring product suite, thereby streamlining payments for Brazilian consumers.
Pix, introduced by the Central Bank of Brazil in 2020, has swiftly gained traction among consumers as their preferred payment method. The rapid adoption of Pix is evident in EBANX’s annual study, Beyond Borders, which predicts that Pix will contribute to 40% of Brazil’s total digital commerce value by 2026.
The rising popularity of Pix poses a challenge to traditional payment processing methods that rely on intermediaries like Visa and Mastercard. Unlike credit card infrastructures dating back to the late 1950s, Pix eliminates the need for intermediaries and associated costs, revolutionizing payment processing globally.
By integrating EBANX’s Pix payments processing capabilities, FastSpring aims to expand Pix availability, enabling global SaaS, software, video game, and digital product companies to offer Pix payments to Brazilian customers. This integration not only facilitates global expansion for digital product companies in Brazil but also caters to native customers’ preference for Pix payments.
Dan Garcia, Sr. Director of Payments, Risk, and Compliance at FastSpring, emphasizes the significance of this partnership, stating, “Our 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.” He further highlights that Pix integration opens up the Brazilian market to new buyers who do not possess internationally enabled cards.
This collaboration marks FastSpring’s debut in accepting Pix payments, underlining its commitment to providing localized payment solutions in Latin America. Leveraging EBANX’s regional expertise and infrastructure, FastSpring aims to elevate the payments experience for its customers.
Gregory Cornwell, Vice-President of Channels and Business Development at EBANX, echoes the sentiment, emphasizing, “The collaboration between FastSpring and EBANX signifies a significant step forward in offering tailored payment solutions for digital product companies operating in Brazil.” He adds that integrating Pix payments into FastSpring’s platform facilitates access to a key payment method in the Brazilian market, empowering businesses to expand their reach and drive growth.
As digital commerce continues to evolve, partnerships like FastSpring and EBANX’s collaboration exemplify the industry’s commitment to innovation and meeting evolving consumer preferences.