Ebanx, Uber partner to expand Uber Cash payments in Brazil
Global fintech Ebanx is partnering with Uber to enable consumers in Brazil to pay for the ride-sharing service by topping up their Uber Cash balance with the country's voucher-based payment system.
The partnership targets Uber customers who do not have credit cards or bank accounts. It instead allows those customers to make the Uber Cash payment via the boleto bancario cash payment system. In turn, Ebanx Pagamentos Ltd. will process those payments across Brazil.
Boleto bancario operates through a system in which consumers seeking to make cash payments purchase vouchers at boleto locations or in stores to use where cash is not an option — such as e-commerce or embedded payments networks like Uber. As such, Ebanx has vast experience in processing those types of payments for Latin Americans.
"Offering boleto and bank transfers as payment options on Uber empowers financially underserved populations to access Uber and pay conveniently and securely,"João Del Valle, co-founder and chief operating officer of Ebanx, said in a Wednesday press release.
"Our partnership with Uber leverages innovative technological solutions to promote financial and digital inclusion, perfectly aligned with Ebanx's vision of increasing access to the digital economy," he added.
Because e-wallet use is growing in Latin America, Ebanx also views the partnership as a way to provide more flexibility in payments in the region. "More payment options lead to a better experience," Del Valle said.
Most recently, Ebanx, which helps Latin American residents make e-commerce payments globally through local currency, launched its Ebanx Go digital payments account in Brazil with physical and virtual cards for business-to-consumer payments.
Other companies using Ebanx technology include AliExpress, Wish, Pipedrive, Airbnb and Spotify. The company partners with Worldline in serving Airbnb and Spotify.