Innovation

EBANX gives virtual debit card access to international websites

photo provided by iStock

May 15, 2020

Brazilian fintech EBANX is offering a virtual debit card. launched by Brazilian Caixa Econômica Federal. to international merchants. 

Although EBANX will make the virtual debit card available to international websites that are clients of the fintech, it will require the partner site to offer the virtual card as a option in its checkout process, according to a press release.

A survey by Americas Market Intelligence reveals just 3.5% of online transactions in Brazil are made using debit cards, despite it being one of the most popular payment methods among residents. There are 115 million active debit cards in the country, in comparison to its 98 million credit card users, according to the Central Bank of Brazil,

"The acceptance of Caixa Econômica Federal's new virtual debit card further reinforces EBANX's greatest goal: to create access. It is a way of bringing even more into the global e-commerce, an entire Brazilian population, that uses this payment method. And at the same time, to create the bridge so that the greatest websites in the world can reach these consumers," said Erika Daguani, B2B product director at EBANX, in the release.