The collaboration with Ebanx will enable Citi’s institutional clients to accept more than 100 consumer online payment methods across 11 countries, and optimise local card processing
Citi, Ebanx collaborate on eCommerce payments. (Credit: rupixen.com on Unsplash)
Citi’s Treasury and Trade Solutions (TTS) has partnered with Brazilian payment gateway Ebanx to procure an end-to-end digital collection (eCommerce) solution for its institutional clients in Latin America.
The collaboration with Ebanx will enable Citi’s clients to accept more than 100 consumer online payment methods across 11 countries.
According to Ebanx’s Beyond Borders study, eCommerce continues to expand in Latin America, with a forecast of more than 30% of growth this year.
The partnership will support its institutional clients in the region in enhancing their payments acceptance and optimising local card processing, said Ebanx.
Citi Treasury and Trade Solutions Latin America head Steve Donovan said: “Our mission is to deliver digitally enabled solutions that address the evolving needs of our diverse institutional client base, especially our direct-to-consumer (D2C) clients.”
Citi Latin America payments and receivables treasury and trade solutions head Gabriel Kirestian said: “Our objective is to amplify payment options for our institutional clients with local and regional reach through a comprehensive consumer payments solution, while building the foundation for a seamless value proposition experience.”
With Ebanx’s eCommerce platform, Citi’s institutional clients can accept a wide range of payment methods, including credit cards, e-wallets, and instant and local payment methods.
Also, the move will enable customers to access their preferred payment methods throughout the Ebanx operation.
The current collaboration adds to the bank’s existing offering in Brazil and Mexico.
Citi’s TTS unit has been offering Spring by Citi, the digital consumer payments solution for corporate and institutional clients, in Mexico since 2020 and in Brazil since last year.
Ebanx global payments president Paula Bellizia said: “Citi is a leader in global banking and financial services. We are thrilled to align with them in this agreement to strengthen our capabilities for local solutions for their merchants across Latin America.
“This is a crucial step forward in creating a more efficient, reliable and flexible solution for each and every single global tech company that wants to reach more consumers across key markets in Latin America.”