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Payments General

EBANX to integrate local payments for merchants in Ecuador

Thursday 8 February 2018 | 02:24 PM CET

EBANX has announced the expansion into Ecuador with the aim to integrate local payment methods for merchants in the country.

The fintech that processes Latin American local payments has integrated with cash payment methods in the country and real-time online bank transfers with the nation's banking institutions, connecting international ecommerce merchants of all sizes to Ecuadorian customers.

In order to pay with cash on the website of EBANX's merchants, customers must select this option on the checkout page. Once selected, a reference number is created, which is accepted in an extensive network of more than 22,000 affiliates, including Banco Pichincha, Banco Guayaquil, Mi Vecino and Sana Sana Pharmacies. Ecuadorian customers have 72 hours to pay their voucher in cash at the agency of their choice. They can also pay the referral number with an online bank transfer, from the online platform of Banco Pichincha and Banco Guayaquil.

Consumers in Ecuador face challenges with online shopping due to living in a cash-based economy, where only 11% of the population pays with credit and debit card services, according to the Central Bank of Ecuador. With the acceptance of local alternative payment methods, international ecommerce stores will be able to sell to the complete Ecuadorian market.

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