The Brazilian unicorn has been recognized for its robust and seamless payments platform that drives financial and digital inclusion in Latin America, a region with a digital commerce market that is expected to grow 31% per year until 2025, an acceleration comparable to only that of Asian markets
CURITIBA, BRAZIL, May 3, 2022 – EBANX, the leading payments company in Latin America that connects global companies to Latin America’s consumers, has been named to Fast Company’s 2022 World Changing Ideas Awards, announced today, honoring products, concepts, companies, policies, and designs that are driving change and supporting the growth of positive social innovation, tackling social inequality, climate change, and public health crises.
The company is named in the global awards with an Honorable Mention in the Best Changing Idea LATAM category, for its payments platform that delivers end-to-end payment solutions for the entire digital commerce transaction flow for international and global merchants that need a “one-stop-shop” platform to expand their operations and customer base or combine operational models in Latin America. The platform lets e-merchants accept shoppers’ desired local payment methods from a selection of more than 100 different options across 15 Latin American countries, without having to open multiple local entities or connect to banks, local acquirers, and payout services.
The EBANX payments platform ultimately contributes to digital and financial inclusion in Latin America, where about half the population still doesn’t have a bank account. The digital commerce market in LatAm, one of the world’s fastest growing regions, is projected to grow 31% per year until 2025 – an acceleration comparable to only that of Asian markets. Local payment methods in the region play a critical role in boosting the economy by making digital goods and services available to more people.
Payment methods other than credit or debit cards, known as alternative payments, currently represent a 30% share of the total digital commerce volume in the region, according to data from Americas Market Intelligence (AMI) in EBANX's annual Beyond Borders study. These options range from cash vouchers and local e-wallets to bank transfers and instant payments like Pix, the instant payments system created by the Central Bank of Brazil – introduced in November 2020 and already used by more than half of the Brazilian population. Besides the alternatives, there are the domestic-only debit and credit cards that are not enabled for international purchases.
"Payment solutions go way beyond the technology and the services we offer merchants – they represent a bridge between Latin Americans and global digital companies’ products and services. With EBANX, Latin American consumers gain access to a much broader array of products, streaming services, software and other purchase options, and online businesses around the world can unlock the huge potential of the LatAm market where more than 650 million people live today," said Paula Bellizia, president of Global Payments at EBANX.
The World Changing Ideas Awards
Now in its sixth year, the judges of the World Changing Ideas Awards consider entries from across the globe. The 2022 awards showcase 39 winners, 350 finalists, and more than 600 honorable mentions—with climate, social justice, AI and data among the most popular categories. A panel of eminent Fast Company editors and reporters selected the winners and finalists from a pool of more than 2,997 entries across transportation, education, food, politics, technology, health, social justice, and more. In addition, several new categories have been added this year including climate, nature, water, and workplace. Fast Company’s Summer 2022 issue (on newsstands May 10, 2022) will showcase some of the world’s most inventive entrepreneurs and companies tackling global challenges.
"Fast Company's awards are one of the most important outlets to showcase the most creative, impactful and promising companies and initiatives worldwide. Being featured in this year’s selection of innovators alongside so many outstanding brands makes us feel honored. It is a recognition that we are on the right track to promote broader access and financial inclusion for consumers and grow global merchants’ businesses through our solutions," said João Del Valle, co-founder and CEO of EBANX.
“We are consistently inspired by the novelty and creativity that people are applying to solve some of our society’s most pressing problems, from shelter to the climate crisis. Fast Company relishes its role in amplifying important, innovative work to address big challenges,” said David Lidsky, interim editor-in-chief of Fast Company. “Our journalists have identified some of the most ingenious initiatives to launch since the start of 2021, which we hope will both have a meaningful impact and lead others to join in being part of the solution.”
ABOUT EBANX
EBANX is the leading payments platform in Latin America, connecting more than 35,000 global and regional companies with customers from one of the fastest-growing digital markets in the world. The company was founded in 2012 with the mission of giving access for Latin Americans to purchase from international e-commerce merchants. With powerful proprietary technology and infrastructure, combined with the deepest knowledge in Latin American markets, EBANX allows companies with local or international operations to connect with hundreds of payment methods in different countries. EBANX goes beyond payments, increasing sales and fueling seamless purchase experiences for companies and consumers. For more information, visit https://business.ebanx.com/en/.
ABOUT THE WORLD CHANGING IDEAS AWARDS
World Changing Ideas is one of Fast Company’s major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.