CellPoint Digital, a London-based fintech for the airline and travel industry, said it entered an agreement with Brazil-based Ebanx to allow travel merchant customers the ability to access more than 100 different local payment options across Latin America.
CellPoint’s Velocity payment control platform will integrate with Ebanx payment solutions, allowing the use of various local payment cards, depending on the country where the travel merchant is located.
“Customers in Latin America use a multitude of specific payment methods and there are specific regulations in each market,” Matthew Nutting, head of travel at Ebanx, said in a press release. “We have built over the years a unique payment network that includes the most popular payment methods and all the major banks in the region.”
The Latin American market is highly fragmented from a payments perspective, with only 113 million people out of 650 million in the region using credit cards. There is a wide variety of local cards and alternative payment methods in the region, ranging from Rapipago in Argentina to Oxxo in Mexico.
“We are committed to offering the most efficient payment solutions in each region, and Ebanx is an ideal partner for Latin America,” Noel Connolly, senior vice president, global head of sales and partnerships at CellPoint Digital, said in the release.