EBANX, a global payments fintech company founded in Brazil in 2012, announced it is expanding its operations and payments solutions outside Latin America for the first time during the sixth edition of the annual Latin America Summit in Mexico City. After growing its foot-print to 15 Latin American countries for more than a decade, EBANX has prioritized global expansion on the African continent, which it believes is the next big growth frontier for digital payments and digital market during the 2020s.
EBANX is the leading payments platform connecting global companies with customers from one of the fastest-growing digital markets in the world. The company was founded with the mission of giving people access to buy in international digital commerce. With powerful proprietary technology and infrastructure, combined with in-depth knowledge of the markets where it operates, EBANX enables global businesses to connect with hundreds of payment methods in different countries in Latin America and now in Africa.
“This is the moment for Africa, and it’s quite reminiscent of the Latin American landscape back in 2012 when EBANX first began its journey by providing global merchants access to sell more goods and digital services via the internet to Latin Americans through local payment methods,” said João Del Valle, CEO and co-founder of EBANX. “Africa’s fast-growing digital economy is only in its early days, and it’s projected to grow up and to the right for the next few decades. Together with local players, EBANX will be a catalyst to realize the many benefits of a digital economy even faster.”
According to a June 2022 report released by Endeavor with contributions from McKinsey & Company, there’s currently a $115 billion digital economy in the region, the result of a combination of young and digitally savvy population, increasing digital penetration, and the impact of the COVID-19 pandemic.
“Africa is now bursting with growth potential. Digital adoption and consumption of online goods and services have accelerated rapidly within its countries, and investment capital has been pouring into the region,” said Paula Bellizia, President of Global Payments at EBANX. “After studying the region and building a deep understanding of its local players, entities, and challenges, we are diving into Africa to provide local payments solutions that will help build the digital economy at a rapid pace, drive broader financial inclusion for its population, and provide greater access to a variety of goods and services from global merchants interested in building their market share there.”