EBANX, a global payment fintech company founded in Brazil in 2012, announced that it is expanding its operations and payment solutions outside of Latin America for the first time during the sixth edition of the annual Latin America Summit in Mexico City. After growing its presence in 15 Latin American countries for over a decade, EBANX has prioritized global expansion on the African continent, which it believes is the next big frontier for digital payments and the digital market during the 2020s.
EBANX is the leading payment platform that connects 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 shop in international digital commerce. With powerful proprietary technology and infrastructure, combined with in-depth knowledge of the markets where it operates, EBANX enables global companies 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 is quite reminiscent of the Latin American landscape back in 2012, when EBANX began its journey by providing access to global merchants to sell more digital goods and services online to Latin Americans through local payment methods,” said João Del Valle, CEO and co-founder of EBANX. “Africa’s rapidly growing digital economy is just in its early days, and it is projected to grow upward and to the right in the coming decades. Together with local players, EBANX will be a catalyst to realize the many benefits of an even faster digital economy.”
According to a June 2022 report released by Endeavor with contributions from McKinsey & Company, there is currently a $115 billion digital economy in the region, resulting from a combination of a 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 goods and services online have rapidly accelerated 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 payment solutions that will help build the digital economy at an accelerated 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.”