Ebanx adds Botón Bancolombia to range of payment methods

Brazilian fintech Ebanx has integrated Botón Bancolombia, a payment method created by Colombian bank Bancolombia, to its portfolio of payment methods available in Latin America.

The strategic partnership marks the first time that Botón Bancolombia is available to cross-border merchants selling to customers in Colombia.

Bancolombia’s more than 19 million individual customers – over 10 million of which are active digital customers – can use Botón Bancolombia to make secure bank transfers when purchasing products and services online.

Through the partnership, Ebanx merchants will offer the payment solution at checkout to their customers with Bancolombia accounts, while recurring payment features will be introduced in the second quarter of 2024, to improve the payment experience at digital commerce merchants with subscription services.

“We are excited to integrate Botón Bancolombia into our diverse payments portfolio. Ebanx’s global merchants will be able to tap into one of Colombia’s main alternative payment methods while providing a more seamless payment experience to Colombian customers,” said Sebastián Fantini, product director at EBANX.

“This partnership is a realization of Ebanx’s mission to create access and connect booming digital ecosystems of rising markets to the global digital economy.”

Nearly 55% of all bank transfers in Colombia in 2022 were made by Bancolombia users, according to the Superintendencia Financiera de Colombia.

Luz María Velásquez, vice president of retail, SMEs and enterprises businesses at Bancolombia, said that its integration with Ebanx “opens doors” for customers to businesses they did not have access to previously.

She added: “This new relationship will strengthen the financial inclusion of millions of people who now have tools like Bancolombia A la Mano on their phones, allowing them to make purchases and continue growing in their journey through the formal financial system.”