Ebanx arrives in Africa and needs to discover the “subsequent nice frontier” of funds

Ebanx arrives in Africa and needs to discover the “subsequent nice frontier” of funds

Company announced the start of operations in Africa in its first internationalization outside Latin America

O unicorn Brazilian payment ebanx this week announces its arrival in Africa, in an attempt to serve the most prominent market for payments outside Latin America. In the company’s view, the African continent currently concentrates the best commercial opportunities and for digital payments outside Brazil and the other 14 Latin countries in which fintech operates.

As of this Wednesday, 14th, Ebanx will include three African countries in its list of nations served. Together, these countries are responsible for 51% of the continent’s GDP. Are they:

  • South Africa
  • Kenya
  • Nigeria

This is Ebanx’s first foray beyond Latin countries. In all, fintech now has 18 countries and more than 1,000 customers.

“This is Africa’s moment, very reminiscent of the Latin American scenario in 2012, when EBANX began its journey, providing global companies with access to sell more digital goods and 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 just getting started and is projected to grow further and consolidate in the coming decades. Alongside global players, EBANX will be a catalyst for the many benefits of an accelerating digital economy.”

In South Africa, the company will start processing payments made using Instant EFT, the second most popular online payment method in the country. In Kenya, there will be M-Pesa, a mobile banking service that allows transfers and payments for online purchases, aimed at the unbanked population. In Nigeria, Ebanx now accepts USSD-type transactions for transfers and payments.

Why Africa?

To justify its arrival on the continent, Ebanx takes as a starting point recent analyzes of the digital economy in the region. One of them, prepared by Endeavor, indicates an economic potential of US$ 115 billion in the region, a result of the digital knowledge of a mostly young population. In search of greater access to mobile devices, digital transfers promise to kick-start financial inclusion. And that’s where Ebanx comes in.

“After studying the region and building a deep understanding of its local actors, 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 will provide greater access to a variety of goods and services from global companies interested in building their market share in the region,” said Paula Bellizia, President of Global Payments at EBANX.

News on the platform

In addition to the expansion to the African continent, changes to the EBANX payment platform and new global partnerships were announced during the sixth edition of the Latin America Summit, EBANX’s annual event taking place for the first time outside Brazil — now in Mexico City. Among the novelties are solutions for processing micropayments and also high value transactions in the cloud.

changes in the house

The trip to Africa consolidates Ebanx’s first major cross-border move since it announced its intentions to internationalize its operations beyond Latin America, years ago. The decision comes on the heels of recent restructurings by the company, which recently laid off 20% of its workforce and promised efficiency-focused gains.

At the head of the arrival on the African continent is Paula Bellizia, ex-Google who now coordinates fintech’s internationalization plans.

Source: Exam

Related post

Nuvemshop arrives in Colombia with an funding of BRL 53 million

Nuvemshop arrives in Colombia with an funding of BRL…

After Brazil, Mexico and Argentina, the Brazilian unicorn continues to bet on e-commerce in Latin America THE Cloudshopthe leading e-commerce platform…
Ebanx founders guess, Transferbank receives funding

Ebanx founders guess, Transferbank receives funding

Transferbank, international remittance startup invested by Wagner Ruiz and Alphonse Voigt, founders of Ebanx, raises a seed round and prepares a…
At RD Station, SC’s “nearly unicorn”, occasions are the brand new frontier of promoting

At RD Station, SC’s “nearly unicorn”, occasions are the…

Small business marketing and software company, RD Station has been organizing the RD Summit for almost 10 years; 2022 edition should…

Leave a Reply

Your email address will not be published. Required fields are marked *