EBANX announces expansion to Central America and the launch of EBANX GO within the LatAm region
October 15, 2020
The initiative called Push LatAm was announced at Latin America Summit and comprises operations in five new countries within Latin America, multiple services with cross-border and local payment processing, and the launch of e-wallet EBANX GO in more LatAm countries
CURITIBA, BRAZIL, October 15, 2020 – EBANX, fintech company specialized in payment solutions for Latin America, announced the Push LatAm, an initiative that comprises expansion of its operations to new markets in Central and South Americas; the offering of hybrid services within Latin American countries; and the launch of EBANX GO, a prepaid card that offers a digital payments account in a partnership with Visa, to other markets in the region besides Brazil; all within the next 12 months. Push LatAm was announced this Thursday, October 15, at the Latin America Summit, EBANX annual event about business in Latin America.
EBANX expansion to Central America will start in Panama, Costa Rica, Dominican Republic and Guatemala. Paraguay, in South America, is also a destination. These five new markets will add to the current nine where the company already operates – Brazil, Mexico, Colombia, Argentina, Chile, Peru, Uruguay, Bolivia and Ecuador.
Besides the geographical expansion, Push LatAm also consists of model expansion. After having unveiled its local payment processing, EBANX will now launch its hybrid model, making things more flexible for global companies that have offices in the region, in a fully compliant way. By combining cross-border and local processing services within the same territories, this new model will allow local settlements for merchants, starting by South American countries.
And following a market trend of electronic payments and digital accounts that was accelerated by the pandemic in Latin America, EBANX will also launch EBANX GO in other LatAm markets. The e-wallet was soft launched in Brazil in the beginning of 2020, with a Visa card and a digital payments account, and has been growing steadily ever since. Around 60% of the current purchases made with the EBANX GO card are within EBANX merchants, proving the product can also work as a performance tool for them, besides being an easy-to-use payment option for consumers in the region.
"The Push LatAm initiative reflects our mission from the beginning of EBANX: to create access, to connect Latin Americans and global brands, always with a customer and product-driven mindset. Expanding our footprint and our solutions right now is the perfect realization of this goal. This will enable us to keep excelling in our commitment with Latin America: to be highly specialized in the region, translating each one of its countries and their singular cultures to businesses around the world," said João Del Valle, co-founder and COO of EBANX.
EBANX is a global unicorn fintech company with Latin American DNA. The company was founded in 2012 to bridge the access gap between Latin Americans and international websites. Currently, EBANX offers over 100 Latin American local payment options to global merchants and already helped over 70 million people to access global services and products, and over 1,000 merchants to expand to Latin America. AliExpress, Wish, Uber, Pipedrive, Airbnb, and Spotify (these two in a partnership with Worldline) are some of the companies that use EBANX solutions. In 2019, EBANX started to offer local payment processing solutions in Brazil through a new company, EBANX Pagamentos Ltda. In early 2020, the company entered the B2C world, with the launch of EBANX GO, a digital payments account for Brazilian consumers. For more information, please visit https://business.ebanx.com/en/.
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