22/12/2016
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Adyen, the payments fintech driving global commerce for companies like Uber and Netflix, announces a global partnership with VTEX, a leading provider of electronic commerce technologies. The contract will boost the opening of frontiers for Brazilian e-commerce to expand its business to other markets where VTEX and Adyen are present, such as the USA and Europe.
VTEX is internationally recognized for its modular and scalable Cloud Software offer for e-commerce, being the pioneer and leader with 84% of marketshare in Brazil, according to data from Datanyze. Through the strategic partnership, Adyen will offer global payment processing to the platform's customers, offering significant increases in conversion rates, with over 150 currencies and 250 payment method options available.
According to the senior vice president of Adyen for Latin America, Jean Christian Mies, this means that Brazilian e-commerce will have the opportunity to expand into the main markets in the world, with an integrated and centralized payment management. “We are breaking down barriers to reach new markets and encourage the growth of the sector, which will have the quality and global support of this important partnership between two innovative companies”, says Mies.
In October of this year, Adyen innovated by becoming the first acquirer in Brazil to integrate all stages of the payment process – encompassing gateway, risk management and acquiring. With this, it offers direct communication between storeowners and the brands, adding control, reliability and a complete view of the operation for customers. "As the only acquirer in the market able to generate additional revenue through the use of advanced technology, we offer a platform capable of significantly increasing online revenue, while allowing merchants to provide a simple and secure shopping experience to their consumers" , explains Mies.
For Mariano Gomide de Faria, co-CEO of VTEX, these qualities make the partnership essential to complement the value offer to e-commerce. “Brazil is one of the most competitive countries in the world when it comes to tax incentives for exports. Making the sale of products from Brazilian companies to more than 120 countries in the world liquid is a pragmatic first step towards putting Brazil on the world's retail map.”
An example of the potential of the foreign market for Brazilian companies was observed in this year's Black Friday. On that date, VTEX generated 379 thousand orders, of which less than 0.05% went abroad. The cross border market abroad can represent up to 25%, and Brazilian brands are also very competitive abroad. With the opening of international transactions, the expectation is to accelerate the discovery of this potential by Brazilian businessmen.
“The Brazilian for a long time believed that our country was big enough. It is not. Either we open the economy to the world and become globally competitive or we will suffer the consequences”, says Mariano. “There is a latent demand from companies that think about the future that this partnership with Adyen will awaken and we are very excited about what the partnership will represent for Brazilian trade”, he completes.
VTEX is internationally recognized for its modular and scalable Cloud Software offer for e-commerce, being the pioneer and leader with 84% of marketshare in Brazil, according to data from Datanyze. Through the strategic partnership, Adyen will offer global payment processing to the platform's customers, offering significant increases in conversion rates, with over 150 currencies and 250 payment method options available.
According to the senior vice president of Adyen for Latin America, Jean Christian Mies, this means that Brazilian e-commerce will have the opportunity to expand into the main markets in the world, with an integrated and centralized payment management. “We are breaking down barriers to reach new markets and encourage the growth of the sector, which will have the quality and global support of this important partnership between two innovative companies”, says Mies.
In October of this year, Adyen innovated by becoming the first acquirer in Brazil to integrate all stages of the payment process – encompassing gateway, risk management and acquiring. With this, it offers direct communication between storeowners and the brands, adding control, reliability and a complete view of the operation for customers. "As the only acquirer in the market able to generate additional revenue through the use of advanced technology, we offer a platform capable of significantly increasing online revenue, while allowing merchants to provide a simple and secure shopping experience to their consumers" , explains Mies.
For Mariano Gomide de Faria, co-CEO of VTEX, these qualities make the partnership essential to complement the value offer to e-commerce. “Brazil is one of the most competitive countries in the world when it comes to tax incentives for exports. Making the sale of products from Brazilian companies to more than 120 countries in the world liquid is a pragmatic first step towards putting Brazil on the world's retail map.”
An example of the potential of the foreign market for Brazilian companies was observed in this year's Black Friday. On that date, VTEX generated 379 thousand orders, of which less than 0.05% went abroad. The cross border market abroad can represent up to 25%, and Brazilian brands are also very competitive abroad. With the opening of international transactions, the expectation is to accelerate the discovery of this potential by Brazilian businessmen.
“The Brazilian for a long time believed that our country was big enough. It is not. Either we open the economy to the world and become globally competitive or we will suffer the consequences”, says Mariano. “There is a latent demand from companies that think about the future that this partnership with Adyen will awaken and we are very excited about what the partnership will represent for Brazilian trade”, he completes.
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