With that, EBANX now integrates with 6 digital wallets as a payment method in Latin America
EBANX has announced a partnership with MACH, the largest digital bank in Chile.
This allows global companies and international websites to offer MACH’s digital wallet as an additional payment option to its customers in the country.
Created as a spinoff of Banco Bci, MACH is a digital bank that offers a prepaid and free digital account. It allows customers to pay for physical or digital purchases through their smartphones, working as a digital wallet. MACH Pay is MACH’s payment solution, which allows customers to pay in physical and digital stores using their MACH accounts.
According to the report, after gaining traction during the pandemic, digital payments are now rapidly growing in Latin America. In Chile alone, digital wallets grew by 32% in 2020 and represented $400 million in online purchases during the year, according to Beyond Borders, EBANX’s annual study on e-commerce in LatAm.
In Latin America overall, digital wallets represent around 11% of the e-commerce market, amounting to approximately $20 billion in transactions, according to data from consultancy firm AMI (Americas Market Intelligence).
We’ve reported that Riksbank tested blockchain-based solution for e-krona.