Brazilian fintech EBANX, known for its cross-border payment solutions, recently integrated Botón Bancolombia into its Latin American payment options. Created by Bancolombia, a leading Colombian bank, this addition represents a strategic expansion in EBANX’s payment portfolio. The Botón Bancolombia is designed to streamline banking transfers, particularly beneficial for online purchases across various e-commerce sectors like streaming, software, and travel.
EBANX’s new feature allows merchants to integrate a simple, user-friendly tool on their websites. This facilitates effortless purchases for Bancolombia account holders, with minimal steps involved. Further enhancing the online shopping experience, EBANX will introduce services for recurring subscriptions starting from the second quarter of 2024.
Electronic transfers played a significant role in Colombia’s digital commerce in 2022, with a 30% share of all payments, as per Americas Market Intelligence data in EBANX’s Beyond Borders study. Notably, Bancolombia users accounted for nearly 55% of all bank transfers in Colombia in 2022, highlighting the bank’s substantial customer base.
Sebastián Fantini, Product Director at EBANX, expressed enthusiasm about integrating Botón Bancolombia into their diverse payment portfolio. This move is seen as a step towards fulfilling EBANX’s mission to bridge growing digital ecosystems with the global digital economy. Luz María Velásquez, VP of Business at Bancolombia, echoed this sentiment, noting the integration’s role in enhancing financial inclusion and broadening customer access to global markets.
As digital commerce thrives in Colombia, this EBANX-Bancolombia partnership is poised to significantly influence the future of digital payments, offering substantial growth opportunities for online retailers and consumer convenience.
