EBANX teamed up with largest digital bank in Chile

With that, EBANX now integrates with 6 digital wallets as a payment method in Latin America

EBANX MACH

EBANX teamed up with largest digital bank in Chile. Source: shutterstock.com

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.

We are very happy to offer MACH Pay as one more important payment option in Chile, the most digitized market in Latin America and where e-commerce is expected to grow by 23% in 2021. Digital payment methods are booming throughout the region, and this partnership between MACH and EBANX will surely expand access to global products and services and allow global companies to reach new customers in Chile
Juliana Etcheverry, director of Expansion LatAm and Strategic Partnerships at EBANX

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.

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