Payment services company EBANX has partnered with Mexican fintech firm APLAZO, which specialises in buy now, pay later (BNPL) solutions.

The collaboration aims to strengthen the offering of flexible payments in Mexico. It focuses on meeting the needs of international online merchants.

Through this collaboration, international online merchants can now offer tailored financing options to their Mexican customers via EBANX’s payment platform.

For the first time, APLAZO’s BNPL service will be available for cross-border e-commerce transactions, enabling global companies to reach a broader audience in Mexico.

EBANX vice-president of product Eduardo de Abreu said: “Mexico is one of the most dynamic markets in Latin America, where e-commerce is expected to grow 25% annually until 2027, with digital payment adoption aligned with this growth.

“Partnering with APLAZO will allow us to expand our local reach and offer our global clients an alternative that directly responds to the preferences of Mexican consumers.”

According to EBANX’s analysis, combining alternative payment methods like APLAZO with local card options allows merchants to access over three times more Mexican consumers compared to relying solely on international acquirers.

The integration of EBANX and APLAZO’s solutions is expected to provide merchants with the ability to offer a more flexible payment experience.

This could lead to benefits such as increased average ticket size, higher purchase frequency, reduced cart abandonment, and access to new market segments, according to APLAZO’s press statement.

APLAZO co-founder and CRO Alex Wieland said: “Our mission at APLAZO is to provide access to credit in a fair, simple, and transparent manner.

“This partnership with EBANX reinforces our commitment to facilitating access to financing for millions of consumers in Mexico and accelerating the digitalisation of commerce in the country.”

Since its launch in 2020, APLAZO has secured over $100m in equity financing and $75m in debt financing. EBANX, which has been operating in Mexico since 2015, supports local payments for global companies, connecting over 500 major digital businesses with customers across 29 countries in Latin America, Africa, and Asia.