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VTEX and Stripe launch integration for retailers in digital commerce

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VTEX (NYSE: VTEX) has announced a new phase in its partnership with Stripe, enhancing payment capabilities for its global customers. The integration allows VTEX users to process payments through a plug-and-play solution, enabling them to accept various payment methods, including Google Pay, Apple Pay, and local options like OXXO in Mexico. This collaboration supports payments in over 135 currencies across multiple countries including the US, Brazil, and the UK. The partnership aims to boost conversion rates and improve checkout experiences for brands and retailers.

Positive
  • Partnership with Stripe enhances payment options for VTEX customers.
  • Integration supports over 135 different currencies.
  • VTEX customers can now accept Google Pay along with other popular payment methods.
  • Collaboration aims to improve conversion rates and checkout experiences.
Negative
  • None.

NEW YORK, Oct. 27, 2021 /PRNewswire/ -- VTEX (NYSE: VTEX) - the enterprise digital commerce platform for premier brands and retailers, the leader in accelerating commerce transformation in Latin America and now expanding globally - is announcing today the next phase of its partnership with Stripe - a global technology company building economic infrastructure for the internet - with the aim of helping brands and retailers to offer the most popular payment methods to their consumers regardless of their operating areas. The integration between both companies is now available for all VTEX customers today as a plug-and-play solution.

With this partnership, VTEX global customers can process online payments with Stripe directly through a VTEX Commerce Platform plug-in. The integration will work in all countries where both companies operate, including the United States, Brazil, Mexico, the United Kingdom, Italy, France, Portugal, Spain, Romania, Bulgaria and Singapore, supporting payments processing in 135+ different currencies.

As a result of this partnership, VTEX merchants can also accept Google Pay, which is a novelty in the platform, along with key wallets such as Apple Pay and more traditional options, like credit and debit cards. Additionally, local payment methods such as OXXO in Mexico and boleto in Brazil are a mere checkout configuration away. VTEX customers will also be able to leverage Stripe's products including its anti-fraud tool Stripe Radar, which helps detect and block fraud for any type of business using machine learning that trains on data across millions of global companies.

As the retail environment is seeing a boost of payment methods, the collaboration between VTEX and Stripe enables global and local businesses alike to match market trends and increase conversion rates through a diverse range of payment options, meant to meet everyone's preferences.

"We are committed to providing the digital commerce platform that enables enterprises to be relevant for the convenience-driven consumer," says Maurício Baum, Head of Payments at VTEX. "This global partnership enables us to enhance the payments ecosystem, helping brands and retailers to upgrade their payment strategies and checkout experiences, key elements of any commerce operation," concludes Baum.

"We are excited to partner with VTEX, a remarkable and promising global SaaS company born in Brazil. We're looking forward to helping their users accelerate their global expansion and increase their revenue," says Mariate Arnal, Head of Stripe in Latin America. "This is just the beginning of a long term partnership which we hope will see VTEX embed an increasing number of financial services powered by Stripe."

About VTEX

VTEX (NYSE: VTEX) provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Our platform enables our customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. Founded in Brazil, we have been a leader in accelerating the digital commerce transformation in Latin America and are expanding globally. Our platform is engineered to enterprise-level standards and features. We are trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries, who rely on VTEX to connect with their consumers in a meaningful way*.

*Figures as of FY ended on Dec. 31st, 2020

About Stripe

Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size – from new startups to public companies – use our software to accept payments and manage their businesses online. Stripe has been recognized as a Leader by analyst firm Forrester in The Forrester Wave™: Merchant Payments Providers, Q3 2020. Stripe achieved the highest scores in the categories of strategy and current offering. 

Press Contacts

For VTEX – Walker Sands
vtex@walkersands.com
312-267-0064

For Stripe - Speyside Group
E-mail: stripebr@speyside-group.com

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/vtex-and-stripe-launch-integration-for-retailers-in-digital-commerce-301409359.html

SOURCE VTEX

FAQ

What is the latest announcement from VTEX?

VTEX announced a new phase of its partnership with Stripe, enhancing payment processing capabilities for its global customers.

How does the VTEX and Stripe integration benefit merchants?

The integration allows VTEX merchants to accept various payment methods, including Google Pay and local options, improving conversion rates.

In which countries does the VTEX and Stripe integration operate?

The integration operates in the US, Brazil, Mexico, UK, Italy, France, Portugal, Spain, Romania, Bulgaria, and Singapore.

What payment methods can VTEX customers now accept?

VTEX customers can accept Google Pay, Apple Pay, credit/debit cards, and local payment methods like OXXO and boleto.

What is the significance of the VTEX and Stripe partnership?

The partnership aims to enhance the payments ecosystem, allowing brands and retailers to improve their payment strategies.

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