VTEX and Stripe launch integration for retailers in digital commerce

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 Wavetm: Merchant Payments Providers, Q3 2020. Stripe achieved the highest scores in the categories of strategy and current offering. 

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SOURCE VTEX