With EBANX, Canva invests in local payments to promote digital inclusion in Latin America

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Oct 21, 2024, 08:11 ET

With a projected 44% growth in users over five years, Latin American digital commerce is being focused on by the Australian SaaS with a tailored strategy of payment solutions that include both cards and alternative payment methods

SYDNEY and CURITIBA, Brazil, Oct. 21, 2024 /PRNewswire/ -- Canva, a global visual communication platform, has formed a partnership with EBANX, a global technology company specializing in payment services for emerging markets. The SaaS giant is aiming to grow in Latin America by providing local payment options for the customers. The payments strategy intends to increase digital inclusion in the region and includes local cards and alternative payment methods, such as Pix, the Brazilian instant payment phenomenon that is about to offer recurring features.

The partnership between Canva and EBANX is already live in six Latin American countries and comes at a pivotal time as the region undergoes a digital inclusion revolution. The number of digital commerce users in Latin America is expected to grow by 44% over the next five years, reaching 418.9 million people by 2029, according to data from Statista Digital Market Insights. In comparison, this growth in the U.S. is projected to be 22% over the same period.

The rising digital inclusion in Latin America highlights an attractive market for SaaS giants like Canva. The digital economy in the region is projected to surpass US$ 1 trillion within three years, based on Payments and Commerce Market Intelligence (PCMI) data analyzed by EBANX.

"Latin America is one of Canva's fastest-growing regions, and we're committed to deepening our support for the diverse communities here by providing localised payment options. By partnering with EBANX, we're making it easier for millions of people to access our platform using payment methods they trust and prefer. This tailored approach not only strengthens digital inclusion but also helps us foster a thriving creative community across the region," said Felipe Godoy, Growth Marketing Manager at Canva LATAM.

While digital commerce in Latin America holds great promise, it also presents challenges due to its diverse payment methods. Canva has partnered with EBANX in Brazil, Mexico, Argentina, Chile, Colombia, and Peru to offer localized payment options in each country and deliver a tailored customer experience. These solutions include digital wallets, instant payments, as well as credit and debit cards, covering installments and cards from national brands.

As in other rising markets, in Latin America, cards hold a significant share of digital commerce. In Chile, 80% of digital commerce purchases are made with credit and debit cards, according to data from PCMI. Peru, Mexico, Colombia and Argentina also show high percentages: 76%, 69%, 52% and 46%, respectively. And each market has a different customer behavior. In Peru and Mexico, for example, debit cards stand out with 49% and 38% market shares, in that order.

"At EBANX, we address the payment complexities of rising markets for our merchants, allowing them to focus on the opportunities these vibrant regions offer," said Melissa Johnson, VP of Merchant Success at EBANX. "Canva excels in fostering innovation and digital inclusion worldwide, so we are thrilled that our partnership is providing the best experience to customers in Latin America."

Canva customers in Brazil, for example, can use Pix to make their payment to the platform. As the fastest-growing instant payment method in Latin America, Pix is expected to surpass credit cards in digital commerce share in Brazil by next year. According to PCMI data, the alternative payment method will account for 44% of the transaction value in digital commerce, compared to 41% for credit cards by 2025.

"Pix plays a crucial role in the daily lives of Brazilians and simultaneously generates new revenue for merchants," said Johnson. At EBANX, Pix is the preferred payment method for 95% of first-time customers on a website. The success case of the Brazilian instant payment method is about to gain another boost with the launch of Pix Automático (Automatic Pix in free translation), the recurring payment feature of Pix, in June 2025.

B2B payment experience

Pix is an important tool for the new frontier for fintechs in Latin America: B2B payments. Internal data from EBANX, shared in its annual report Beyond Borders, shows the most used payment method for transactions between companies in this region processed by the fintech is Pix, with a 43% share.

For companies in the SaaS sector, these transactions are expected to receive a boost with the new recurring feature, positioning Pix as one of the solutions reshaping the landscape of business transactions in Latin America.

While EBANX enables its merchants to access rising markets with tailor-made payment strategies, Canva has been enhancing design technology for companies. Canva's business platform, Visual Suite, was launched two years ago, and the SaaS company has been investing in AI-powered tools tailored for this clientele.

ABOUT CANVA
Launched in 2013, Canva is a free online visual communications and collaboration platform with a mission to empower everyone in the world to design. Featuring a simple drag-and-drop user interface and a vast range of templates ranging from presentations, documents, websites, social media graphics, posters, apparel to videos, plus a huge library of fonts, stock photography, illustrations, video footage, and audio clips, anyone can take an idea and create something beautiful.

For more information:
Website: https://www.canva.com/
LinkedIn: https://www.linkedin.com/company/canva/

ABOUT EBANX
EBANX is the leading payment platform connecting global companies with customers from one of the fastest-growing digital markets in the world. The company was founded in 2012 in Brazil with the mission of giving people access to buy in international digital commerce. With powerful proprietary technology and infrastructure, combined with in-depth knowledge of the markets where it operates, EBANX enables global businesses to connect with hundreds of payment methods in different countries in Latin America, Africa, and Asia. EBANX goes beyond payments, increasing sales, and fostering seamless purchase experiences for businesses and clients.

For more information:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx

Media Contact:
Leonardo Stamillo
[email protected]
Content CO

SOURCE EBANX