February 25, 2026
SaaS, gaming, and online education are expected to grow at annual rates of up to 30% in emerging markets such as Nigeria, Brazil, Costa Rica, and the Philippines, EBANX finds
CURITIBA, BRAZIL, FEBRUARY 25, 2026 – Digital services are emerging as one of the most resilient sources of growth as elevated uncertainty reshapes global trade. While AI-driven innovation is accelerating adoption in verticals such as Software as a Service (SaaS), shifting trade patterns are opening new pathways for expansion—particularly across South-South corridors, according to an analysis of United Nations Trade and Development (UNCTAD) data and Payments and Commerce Market Intelligence (PCMI) forecasts made by EBANX, a global technology company specializing in payment services for e-commerce across emerging markets like Latin America, Africa, and Asia.
Data from the UN body shows that service exports are projected to have grown 9% in 2025, well above the global expansion estimate of 2.6%, and now account for 27% of global trade. Digitally deliverable services represent 56% of these exports, and growth in developing economies is outpacing that of developed ones—8.4% vs. 6.7% on average between 2015 and 2024.
Rising access to digital tools is also increasing economic activity and, in turn, demand for digital services. In the U.S., for example, 44% of new businesses that accept cards as a payment method were online-only in 2024—an increase of 20 percentage points since 2019—according to the Mastercard Economics Institute.
According to Sean Yu, VP of Commercial, APAC at EBANX, Latin America has become a priority region for Asian merchants as they look for growth beyond uncertain developed markets. “We’ve talked to some of our top merchants, and they mentioned that LatAm will be a major focus for them in 2026,” Yu said.
Even as regional GDP is expected to grow around 2% in 2026, EBANX analysis indicates that digital commerce in Latin America is poised to expand 12% versus 2025 levels.
Alyson Grosshandler, Director of Country Growth, Northern Latin America at EBANX, notes that mobile usage in the region is among the highest in the world, helping explain the rapid expansion of SaaS and gaming in these markets. “As AI adoption accelerates and technology advances, these companies are at the forefront, providing relevant global services and solutions,” Grosshandler said.
In Brazil, SaaS is expected to expand at a 17% annual rate from 2024 to 2028, according to PCMI. Costa Rica and the Dominican Republic are projected at 18% annual growth, while Mexico and Chile are expected to reach 11% and 12%, respectively.
“Latin America’s digital economy is being built on an innovative payment infrastructure, where rising mobile access and financial inclusion are converging. With deep local expertise, we see how this integrated ecosystem is enabling digital services to scale faster and reach consumers who were previously excluded from the formal economy,” adds Juliana Etcheverry, Director of Country Growth, Southern Latin America at EBANX.
A similar pattern is emerging in Sub-Saharan Africa, observes Wiza Jalakasi, Director of Africa Market Development at EBANX. “Even amid global volatility, we continue to see steady growth in locally driven digital consumption across the region—particularly for everyday digital services rather than discretionary luxury spending.”
In Nigeria, gaming is projected to grow at a compound annual rate of 30% through 2028, based on PCMI data sourced by EBANX. Online education and SaaS are also expected to grow at 25% and 15%, respectively.
South-South trade and growing competition
As global tensions intensify, companies are searching for new growth opportunities—strengthening South-South ties and opening pathways for new partnerships, UNCTAD notes.
Jalakasi adds that this shift is accelerating digital trade between Africa, Asia, and the Middle East. “For Sub-Saharan African markets, this means less reliance on traditional U.S. and EU-centric trade corridors, increased relevance of regional and emerging-market platforms, and greater demand for localized payment acceptance and settlement,” Jalakasi said.
This consolidation of new trade corridors comes as South and East Asia are projected to show resilience, supported by disinflation, monetary easing, and fiscal expansion, according to UNCTAD. The region is projected to grow above 4% this year, while the global economy is expected to slow to 2.6%.
In the Philippines, SaaS is projected to grow at a 19% compound annual rate through 2028, while online education is expected to expand at 17%, according to PCMI. In India, these figures are projected at 23% and 14%, respectively.
A new world for SaaS
While emerging markets have not traditionally been a top priority for many SaaS companies, that is changing—driven not only by economic uncertainty, but also by intensifying competition in developed markets, particularly for AI-related services, Yu added. “We’re seeing more of these companies diversify revenue across Latin America.”
As digital services expand across emerging markets, growth increasingly depends on executing local-market fundamentals—particularly in payments. Acceptance rates, preferred payment methods, currency and settlement needs, and fraud and risk dynamics vary significantly by country. “For global SaaS, gaming, and online education companies, the ability to localize how customers pay—and how revenue is collected and settled—has become a core lever for conversion and sustainable expansion,” said Yu.
ABOUT EBANX
EBANX is the leading payments platform connecting global businesses to the world’s fastest-growing digital markets. Founded in 2012 in Brazil, EBANX was built with a mission to expand access to international digital commerce. Leveraging proprietary technology, deep market expertise, and robust infrastructure, EBANX enables global companies to offer hundreds of local payment methods across Latin America, Africa, and Asia. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and end-users alike.
For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx