APAC gaming companies to unlock a US$ 15 billion market in Latin America and Africa through localized payment solutions

EBANX is facilitating the expansion of APAC gaming firms into the thriving Latin American and African markets, where mobile gaming and increasing digital engagement are transforming the gaming landscape

CURITIBA, BRAZIL, October 28, 2024 – Latin America and Africa are rapidly rising as key growth regions for the global gaming industry. As markets in Asia-Pacific mature, these regions offer untapped opportunities, with rising numbers of gamers and increasing revenues. EBANX, a leading payments platform connecting global companies with customers in emerging markets like Latin America and Africa, is enabling APAC gaming companies to seize this growth by providing payment services designed to maximize conversion rates and enhance the gaming experience. This booming vertical for the global digital economy was one of the main highlights at the Bangkok, Thailand, chapter of EBANX's 7th Payments Summit, which took place from October 24th to 26th, following equally successful chapters in Barcelona, Spain (September 18-20) and Napa Valley, U.S. (September 30-October 2).

Latin America has a vibrant and expanding gaming community, with 335 million gamers, after growing 5.6% this year, according to Newzoo, contributing to an expected market of US$ 14 billion in 2024, per Payments and Commerce Market Intelligence - PCMI data analyzed by EBANX. 

“We understand that for companies to succeed in these regions, they need a payments strategy that not only caters to local preferences but also simplifies the payment transaction process for gamers. That's where EBANX comes in, connecting APAC businesses to these high-growth markets,” said Sean Yu, VP of Merchant Success - APAC at EBANX. 

As the second region in the world to add more people in the consumer class this year, per the World Data Lab (10 million, only behind Asia), Africa is also emerging as a gaming frontier. It is one of the regions with the highest number of players in the world: combined with the Middle East, Africa has 550 million people playing – only behind APAC, after growing 8.2% this year, the highest rate worldwide, points out Newzoo. With a young population, an increasing smartphone adoption, and digital payments with full synergy with the mobile experience, countries like South Africa, Egypt, Nigeria, and Kenya are becoming pivotal in the region’s gaming ecosystem, contributing to a combined market value of US$ 1.6 billion this year, per PCMI data. Together, Latin America and Africa offer a potential market of US$ 15.6 billion for global gaming companies. 

“APAC gaming companies have a unique opportunity to scale their presence in Latin America and Africa. Our localized payment expertise is crucial in unlocking these markets, ensuring that companies can offer seamless transactions while navigating the complexity of different payment methods across regions,” Yu added.

EBANX’s comprehensive payments platform allows gaming companies to offer their users localized methods like Brazil’s instant payments system Pix, Mexico’s SPEI, Peru's cash-based vouchers, Colombia's PSE and digital wallets, Kenyan mobile money, and Instant EFTs in South Africa, and so on, as well as the traditional debit and credit cards, including from national brands. The EBANX platform helps increase approval and conversion rates and optimize payment flows. As Latin American and African gamers increase their spending power, EBANX helps ensure that APAC companies can fully leverage the revenue potential of these expanding markets.

The growth of players in Latin America and Africa is outpacing other regions, like North America and Europe, where the rate was 2.9% and 2.4% this year, respectively (Newzoo). This upward trend makes the region particularly attractive for APAC gaming companies looking to expand internationally. 

“As we wrapped up EBANX's Payments Summit in Bangkok last week, where we gathered with our merchants and prospects, the conversations were all about the timing for rising markets like LatAm and Africa. Companies from APAC gaming hubs like South Korea, China, and Japan are well-positioned to capture this momentum,” Yu said. “We'll be in the upcoming G-STAR event, in early November, and other key gaming events taking place in South Korea and across APAC, available to talk about these regions, giving businesses a direct channel to know more about these new markets, and how EBANX’s payment solutions can ease the expansion process.”

ABOUT EBANX
EBANX is the leading payment platform connecting global companies with customers from the fastest-growing digital markets in the world. The company was founded in 2012 in Brazil 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, Africa, and Asia. EBANX goes beyond payments, increasing sales, and fostering seamless purchase experiences for businesses and clients.

For further information, please visit:
Website: https://www.ebanx.com/en/ 
LinkedIn: https://www.linkedin.com/company/ebanx