EBANX study: Africa's consumer spending expected to double in 10 years, driven by e-commerce

New research shows key insights for Chinese merchants to tap into the booming digital commerce landscape in emerging countries across Africa and Latin America

Curitiba, Brazil – February 6, 2025 – Consumer spending in Africa is projected to increase by 103% over the next decade, outpacing Latin America, which is expected to see a growth of 57% in the same period. This surge, based on projections by the World Data Lab (WDL), is featured in the new edition of Beyond Borders, EBANX's annual comprehensive study on the digital market and payment trends in emerging economies.

The data released in Beyond Borders highlights how Africa and Latin America present prime opportunities for Chinese businesses to expand into emerging markets. As digital adoption accelerates in these regions, understanding local consumer behavior and payment preferences is crucial for success. The research can be accessed in full and for free at http://bit.ly/EBANXBeyondBorders2025.  

The booming consumer spending in Africa and Latin America is accelerated by online sales, which are driven by rising internet penetration, mobile adoption, and a fast-growing middle class. For Chinese businesses looking to expand beyond traditional markets, Latin America and Africa continue to provide a golden opportunity to capture new customers and drive revenue growth.

“Latin America and Africa are undergoing a digital revolution, creating immense potential for global merchants,” said Sean Yu, VP of Merchant Success – APAC at EBANX, a leading global payments service provider (PSP) specializing in emerging markets. 

Payment innovations

Consumer demand for real-time, seamless, and cost-effective transactions has made mobile money and Pix the leading alternative payment methods for online purchases in Kenya, and Brazil, respectively. Mobile money accounts for 48% of Kenya's total e-commerce and Pix, for 40% of Brazil’s online purchases, according to data from Payments and Commerce Market Intelligence (PCMI) in Beyond Borders. 

Features like Pix Automático, set to launch in mid-2025, will unlock new recurring payment use cases and accelerate adoption in Brazil’s e-commerce. Beyond Borders' exclusive projections reveal that Pix Automático could generate over USD 30 billion in online recurring payments within two years of its launch, per PCMI. This is a substantial figure, considering this credit card-dominated market vertical currently handles USD 50 billion annually in Brazil. EBANX's study also predicts that the new recurring feature will account for 12% of all Pix's online transaction volume by 2027.

Pix and mobile money are also among the fastest-growing payment methods in online sales across emerging markets, expected to accelerate by 35% and 16% per year by 2027, in that order. Debit cards are also one of the “game changer payment methods”, capturing 32% of the market across emerging economies, and still sustaining a 24% CAGR by 2027.

“Chinese businesses are well-positioned to capitalize on this growth, and by leveraging localized payment solutions, they can effectively connect with millions of new customers,” stated Sean Yu. 

To read EBANX's Beyond Borders 2025 study, access http://bit.ly/EBANXBeyondBorders2025. 

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.

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Website: https://www.ebanx.com/en/   
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