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Associated Press
12-03-2025
- Business
- Associated Press
EBANX Data Shows 41% of Online Card Transactions in Brazil Come From Digital Issuers
CURITIBA, Brazil--(BUSINESS WIRE)--Mar 12, 2025-- Digital-first financial institutions have become key drivers behind cards' sustained presence and growth in rising economies. According to internal data from EBANX, a global Payment Service Provider (PSP) that has already processed transactions for nearly 70% of Brazil's credit cardholders, fintech companies and digital players now account for 41% of the total value transacted through credit cards for online purchases in Brazil. This trend is gaining traction in other countries in Latin America, mainly Colombia (21%) and Argentina (19%), where digital banking expansion and intense fintech activity are pushing card issuance. 'This is a clear indication of how the fast and massive adoption of alternative payment channels by consumers in emerging countries is also influencing the credit card industry in these regions,' says João Del Valle, CEO and Co-founder of EBANX. 'E-wallets and other real-time payments like Pix, in Brazil, and PSE, in Colombia, have raised the bar and driven innovation across all segments, including credit cards. These digital solutions have pushed traditional payment methods to evolve and adapt to meet modern consumer expectations.' Fintech and neobank's key contributions to the credit card market include user-friendly platforms, reward programs, and enhanced customer experiences that have reshaped how consumers engage with card payments. As a result, these institutions now have nearly the same reach as the major traditional banks in emerging markets such as Brazil. In Brazil, Latin America's largest market, their user base jumped from 25 million individuals to 100 million in three years, per the Central Bank of Brazil. Four out of 10 of these people are credit card holders, a group that has tripled in size in the country since 2019, led by digital players. One effect of this trend is the growth in credit card usage in digital commerce across emerging markets, with a projected annual increase of 13% through 2027, according to the new edition of Beyond Borders, EBANX's annual comprehensive study on the digital market and payment trends in emerging economies. What's next in credit cards Incumbent banks have followed in the footsteps of digital-first financial institutions and are also investing in innovations further to advance the online purchasing experience in rising economies. Consumers are the ultimate beneficiaries, gaining access to more straightforward and secure checkout systems, such as click-to-pay technology, which reduces the number of clicks needed to complete a purchase, improving convenience and efficiency. , such as click-to-pay technology, which reduces the number of clicks needed to complete a purchase, improving convenience and efficiency. Network tokenization stands out as another prime example, as it replaces sensitive card data with encrypted identifiers for each transaction, reducing fraud risk without compromising approval rates. Additionally, the technology lowers fraud-related declines and enhances the overall quality of transactions. In tests conducted by EBANX in Brazil, network tokens reduced the decline of transactions by more than 86% due to card security issues. Furthermore, the adoption of network tokens led to an increase of up to 7 percentage points in overall approval rates for online retail merchants and up to 5 percentage points for subscription-based merchants. 'In today's dynamic payments landscape, the focus isn't on opposing Pix or e-wallets to cards or choosing between traditional and new payment methods,' explains Del Valle. 'Instead, it's about expanding opportunities and creating an ecosystem where different payment solutions can coexist and complement each other, ultimately providing consumers with more choices and better experiences in their digital transactions.' Debit cards in emerging markets While credit cards account for approximately 80% of online purchases in emerging markets, according to data from Payments and Commerce Market Intelligence (PCMI) in Beyond Borders, debit cards have become an important avenue for attracting new online customers in countries like Peru, Mexico, and South Africa. Especially in markets where access to credit is more restricted, financial inclusion has catapulted the usage of debit cards, which are linked to existing account balances, and brought new consumers into e-commerce. . Especially in markets where access to credit is more restricted, financial inclusion has catapulted the usage of debit cards, which are linked to existing account balances, and brought new consumers into e-commerce. Peru exemplifies this pattern, where 60% of first-time online shoppers use debit cards, according to EBANX's internal data. In Mexico, this figure reaches 55%. Not surprisingly, in these two countries, debit cards account for a larger share of online transaction volume than credit cards, at 49% compared to 27% in Peru and 38% versus 31% in Mexico. 'However, it's worth noting that this share will likely decrease in some key economies from emerging markets such as Brazil and Colombia, as alternative payment methods mature in these countries,' reflects Del Valle. In Brazil, where Pix holds 40% of the online sales volume, debit cards now account for only 1% of digital commerce transaction value. 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 consumers alike. 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 consumers alike. Leonardo Stamillo Content CO SOURCE: EBANX Copyright Business Wire 2025. PUB: 03/12/2025 08:06 AM/DISC: 03/12/2025 08:07 AM
Associated Press
17-02-2025
- Business
- Associated Press
EBANX secures In-Principle Approval for Major Payment Institution license from Monetary Authority of Singapore, amplifying global payments reach
The Payment Service Provider strengthens its global operations and accelerates APAC expansion after obtaining In-Principle Approval for a Singapore Major Payment Institution license. The APAC region represents 39% of the fintech's total processed volume SINGAPORE, Feb. 17, 2025 /PRNewswire/ -- EBANX, a leading global Payment Service Provider (PSP) specializing in emerging markets, today announced that EBANX Pte. Ltd. has been granted In-Principle Approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license supports two types of payment services in Singapore (namely, cross-border money transfers and merchant acquisition services), enabling EBANX to strengthen its offerings within its global settlement hub, benefiting its network of over 500 global enterprise merchants. The MPI license will also further reinforce EBANX's strong footprint in the Asia-Pacific region. EBANX serves leading enterprise merchants from APAC, with 39% of its total processed volume in 2024 coming from the region. EBANX maintains offices in Shanghai, China, and Singapore, and has recently established payment operations in India. 'Receiving In-Principle Approval for an MPI license in Singapore, one of the most robust ecosystems for international payments, is a testament to EBANX's priority to meet the highest regulatory standards and provide exceptional value to our clients globally, who will now have even more capabilities enabled within our payments services,' said João Del Valle, CEO and Co-founder of EBANX, who was in Singapore last week. EBANX's story in Asia-Pacific dates back to the company's foundation in 2012: the fintech's operational hub has always been in Singapore, and when obtained, the MPI license would replace the current authorisation provided by the MAS for the company's cross-border operations in the country. The In-Principle Approval follows a series of strategic moves by EBANX in Asia, including the partnership with YES BANK and the appointment of a Country Director for its operations in India. 'EBANX has been the payments partner of choice for APAC merchants in emerging economies for 12 years now, supporting their growth through various generations of the Asian e-commerce industry, across multiple markets in Latin America and Africa,' said Del Valle. The successful partnerships continued, going beyond China and beyond online retail. EBANX serves multiple verticals from different Asian countries, and is adding new industries to the portfolio: Australian Canva (SaaS), South Korean Gravity Game Vision (gaming), besides the Chinese giants XTransfer (financial services) and Alibaba (B2B trade) are some examples. Forbes China has also recognized EBANX as one of the 30 pioneering brands in international expansion. 'This moment marks another chapter of EBANX's successful story in the APAC region and a significant step forward in our global expansion strategy. It will build upon our powerful operations in LatAm, Africa, and India and solidify our position as a trusted partner for businesses operating in emerging markets,' Del Valle added. EBANX office in Singapore To further drive strategic growth initiatives in APAC, EBANX is pleased to announce the relocation of Fernanda De Fino, Global Director of Risk and Compliance, to Singapore. In addition to her current global responsibilities, De Fino will also serve as the Executive Director of EBANX in Singapore. This appointment strengthens EBANX's physical footprint in the APAC region, which includes a multi-functional team of 25 in Shanghai. 'Singapore's robust regulatory framework and strategic location make it the ideal hub to connect EBANX's global operations in 29 countries. We are excited to contribute to its leading fintech ecosystem,' said De Fino. The office in Singapore and the executive relocation are statements of EBANX's commitment to APAC, as the company plans to continue expanding its team across the region. About the IPA from MAS An In-Principle Approval (IPA) reflects MAS' view that a license may be issued to the applicant upon the fulfillment of specified conditions and provided there are no material adverse developments affecting the applicant. An IPA does not constitute a license at this juncture. MAS reserves the right to rescind the IPA in circumstances where it considers appropriate. 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 consumers alike.
Yahoo
17-02-2025
- Business
- Yahoo
Straits Millennium, EBANX get in-principle nod for MPI licence in Singapore
The Monetary Authority of Singapore (MAS) has issued in-principle approval to fintech firms EBANX and Straits Millennium for a major payment institution (MPI) Licence under the Payment Services Act 2019. Payment service provider EBANX has presence in the Asia-Pacific region, with 39% of its total processed volume in 2024 coming from the region. It operates offices in Shanghai, China, and Singapore, and has recently expanded its footprint in India through a partnership with YES Bank and the appointment of a country director. EBANX has relocated Fernanda De Fino, global director of risk and compliance, to Singapore. In addition to her global role, she will serve as executive director of EBANX Singapore to strengthen the company's APAC presence, complementing its 25-member team in Shanghai. EBANX CEO and co-founder João Del Valle said: "Receiving In-Principle Approval for an MPI license in Singapore, one of the most robust ecosystems for international payments, is a testament to EBANX's priority to meet the highest regulatory standards and provide exceptional value to our clients globally, who will now have even more capabilities enabled within our payments services." Besides, Straits Millennium is a Singapore-based digital asset firm and subsidiary of Straits Financial Group that aims to bridge the gap between traditional finance and digital assets by offering financial solutions. The in-principle approval allows the firm to offer digital payment token (DPT) services. Straits Millennium digital assets lead Amily Ho said: "The demand for compliant, seamless, and efficient digital token services continues to rise, and Straits Millennium is here to bridge that gap. Our in-principle approval allows us to build a secure and regulated ecosystem for industry players who require reliability, transparency, and scalability in their digital asset operations. 'Whether it's facilitating liquidity solutions or enabling efficient trading services, we are committed to delivering innovative and regulatory- compliant services that meet the evolving needs of the market." "Straits Millennium, EBANX get in-principle nod for MPI licence in Singapore " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
