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LatAm fintech giant EBANX expands its payments solutions to Africa

September 14, 2022

  • The Brazilian unicorn views Africa as the “next frontier” that is poised for rapid digital transformation. EBANX now provides local payment solutions in 18 countries worldwide, including three of the top-10 economies in Africa: South Africa, Kenya, and Nigeria.
  • The African expansion news, in addition to a number of new corporate partnerships and EBANX payments-platform enhancements, were announced during the sixth edition of EBANX’s annual Latin American Summit, being held in Mexico City for the first time this week.  

BRAZIL AND MEXICO, September 13, 2022 – Today, EBANX, a global payments fintech company founded in Latin America, announced it is expanding its operations and payments solutions outside Latin America for the first time during the sixth edition of the annual Latin America Summit powered by EBANX in Mexico City. After growing its footprint to 15 Latin American countries for more than a decade, EBANX has prioritized global expansion on the African continent, which it believes is the next big growth frontier for digital payments and digital market during the 2020s. 

“This is the moment for Africa, and it’s quite reminiscent of the Latin American landscape back in 2012 when EBANX first began its journey by providing global merchants access to sell more  goods and digital services via the internet to Latin Americans through local payment methods,” said João Del Valle, CEO and co-founder of EBANX. “Africa’s fast-growing digital economy is only in its early days, and it’s projected to grow up and to the right for the next few decades. Together with local players, EBANX will be a catalyst to realize the many benefits of a digital economy even faster.” 

According to a June 2022 report released by Endeavor with contributions from McKinsey & Company, there's currently a USD$115 billion digital economy in the region, the result of a combination of young and digitally savvy population, increasing digital penetration, and the impact of the COVID-19 pandemic. 

When it comes to the digital games market, the Africa region is the fastest-growing one in the world, according to Newzoo. It is currently a USD$2.6 billion market, scaling 5 times faster than the global average in 2022, and expected to grow at almost 10 percent per year through 2026. The streaming market in Africa, of currently $1.9 billion, is expected to accelerate even faster, at 14 percent per year through 2026.

“Africa is now bursting with growth potential. Digital adoption and consumption of online goods and services have accelerated rapidly within its countries, and investment capital has been pouring into the region,” said Paula Bellizia, President of Global Payments at EBANX. “After studying the region and building a deep understanding of its local players, entities, and challenges, we are diving into Africa to provide local payments solutions that will help build the digital economy at a rapid pace, drive broader financial inclusion for its population, and provide greater access to a variety of goods and services from global merchants interested in building their market share there.” 

According to Endeavor’s June report, “The Inflection Point: Africa’s digital economy is poised to take off,” together with Egypt, the three African countries EBANX is focusing on first (South Africa, Kenya, and Nigeria) account for 32 percent of the continent’s population, 51 percent of its GDP, and 73 percent of the startup accelerators active in Africa today. Africa’s compound annual growth rate (CAGR) from 2010 to 2019 was higher than both Europe and Latin America. 

Importantly, a high level of mobile penetration and consumption in African countries positions the region to be the “next frontier” – but while increasing mobile access help boost online shopping in LatAm during the later stages of digital inclusion, in Africa, mobile devices and digital money transfers are the foundation for banking access and financial inclusion for the continent’s massive population of more than 1 billion people. 

Pipefy, a powerful SaaS low-code platform for workflow management founded in 2015 in Latin America and operating within over 200 countries worldwide, is present in the Africa region with EBANX as its payments partner. "Expanding our solutions to African countries speaks directly to EBANX's mission of creating access, and having Pipefy as a merchant makes this moment even more special to us, expanding solutions and services throughout regions full of opportunities," Bellizia said.

EBANX solutions in the Africa region will contemplate popular local payment methods including:  

In South Africa:

Instant EFT by OZOW, lets online shoppers access internet banking to make an Electronic Funds Transfer (EFT) that gets instantly verified. EFT is the second most popular online payment method in South Africa today.

In Kenya: 

M-Pesa, a mobile banking service that lets users store and transfer money, as well as pay for online shopping through their mobile phones. M-Pesa was introduced in Kenya as an alternative way for the country’s population to have access to financial services.

In Nigeria:

USSD, a session-based protocol that travels over the GSM signaling channel to query information and trigger services. It enables customers to pay for their e-commerce shopping. 

Bank Transfers, which enable customers to pay for online purchases quickly and easily without needing a credit or debit card. They are one of Nigeria’s leading alternative payment methods because they are very secure and reliable. 

EBANX also announced a set of new payment solutions during its annual Latin America Summit that is being held for the first time this week in Mexico City: 

  • EBANX has launched several new capabilities for its cloud-based payments platform, including a new automated payments solution for high-value transactions targeted at the USD$11 billion B2B SaaS/Cloud market in Latin America.
  • EBANX has enhanced its payments platform so it can process multiple cross-border payments in a single transaction that will be used by some of its global customers, in addition to a new ability to process micropayments.


EBANX is the leading payments 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 and Africa. EBANX goes beyond payments, increasing sales and fostering seamless purchase experiences for businesses and clients. For more information, please visit: https://business.ebanx.com/en/. 

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