EBANX, a Brazil-based global payment service provider, is targeting emerging markets globally, drawn by the strong economic growth, rapid digital consumer expansion, and varied payment ecosystems that characterize these regions.
“At EBANX, we are laser-focused on unlocking the potential of emerging markets around the world. We see these regions as dynamic and exciting frontiers, brimming with opportunities for global businesses,” Eduardo de Abreu, Vice President of Product at EBANX, told TNGlobal in an interview.
“While we can’t disclose any specific markets we are about to enter, I can tell you that our focus is on regions with strong underlying economic growth, a rapidly expanding digital consumer base, and a diverse payment landscape that requires specialized expertise,” he said.
“We are particularly interested in markets where we can leverage our deep understanding of local payment preferences and regulatory complexities to provide a seamless and secure experience for both merchants and consumers,” he said.
“We are always evaluating new opportunities and partnerships that align with our mission to create access and drive financial inclusion in the global digital economy,” he added.
Earlier this month, EBANX 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.
The fintech’s operational hub has always been in Singapore, and when obtained, the MPI license would replace the current authorization provided by the MAS for the company’s cross-border operations in the country, the company said in a statement then.
Meanwhile, de Abreu said EBANX’s long-term vision is to create a truly inclusive and interconnected global digital economy, where businesses of all sizes can seamlessly connect with consumers and other businesses worldwide, especially those in emerging markets.
“We see a future where geographical boundaries and payment complexities no longer hinder the flow of commerce, where businesses can expand their reach and tap into new markets with ease, and where consumers have the freedom to access products and services from anywhere in the world, regardless of their location or preferred payment methods,” he added.
In the interview, de Abreu also shared how Chinese companies can benefit from offering Nequi, a Colombian digital wallet and financial platform, to their Colombian customers through EBANX. It is understood that EBANX counts popular Chinese retail giants as clients.
He also shared how EBANX is investing in technology and infrastructure to stay ahead of the competition, its long-term vision, among others.
Below are the edited excerpts:
For EBANX, what are the markets in focus? Are there any priorities?
At EBANX, we are laser-focused on unlocking the potential of emerging markets around the world. We see these regions as dynamic and exciting frontiers, brimming with opportunities for global businesses. While we can’t disclose any specific markets we are about to enter, I can tell you that our focus is on regions with strong underlying economic growth, a rapidly expanding digital consumer base, and a diverse payment landscape that requires specialized expertise.
We are particularly interested in markets where we can leverage our deep understanding of local payment preferences and regulatory complexities to provide a seamless and secure experience for both merchants and consumers. We are always evaluating new opportunities and partnerships that align with our mission to create access and drive financial inclusion in the global digital economy.
What is EBANX’s long-term vision for connecting global businesses with consumers in emerging markets?
Our long-term vision at EBANX is to create a truly inclusive and interconnected global digital economy, where businesses of all sizes can seamlessly connect with consumers and other businesses worldwide, especially those in emerging markets. We see a future where geographical boundaries and payment complexities no longer hinder the flow of commerce, where businesses can expand their reach and tap into new markets with ease, and where consumers have the freedom to access products and services from anywhere in the world, regardless of their location or preferred payment methods.
To achieve this vision, we are committed to:
Expanding our global footprint: We will continue to expand our presence in emerging markets, providing localized payment solutions and expertise to businesses looking to enter these dynamic regions. Currently, we are in 29 countries in Latin America, Africa, and Asia.
Building a comprehensive platform: We will continue to enhance our platform, offering a wider range of payment options, advanced features, and seamless integration to simplify cross-border transactions for both merchants and consumers. Currently, we have integrated more than 200 payment methods.
Fostering innovation: We will stay at the forefront of payment innovation, embracing new technologies and developing solutions that cater to the evolving needs of the digital economy.
Promoting financial inclusion: We will continue to champion financial inclusion, providing access to digital payments for underserved communities and empowering individuals to participate fully in the global marketplace.
Building strong partnerships: We will continue to collaborate with key players in the ecosystem, including merchants, financial institutions, and technology providers, to create a more connected and collaborative digital world.
How is EBANX investing in technology and infrastructure to stay ahead of the competition and meet the evolving needs of its clients?
At EBANX, we are constantly investing in technology and infrastructure to stay ahead of the competition and ensure that our clients can navigate the evolving global payments landscape. Here are three recent examples:
Meeting the highest regulatory standards:
In our commitment to providing secure and compliant payment services globally, we recently announced that EBANX has been granted In-Principle Approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This is a significant milestone for us and reflects our commitment to operating at the highest regulatory standards in one of the world’s most competitive payment environments. The MPI license will support cross-border money transfers and merchant acquisition services,
enabling EBANX to strengthen its offering in the Asia-Pacific region.
Always ready for new payment methods and features:
We are always looking ahead and preparing for new payment methods and innovations. One example of this is our leadership in integrating Pix Automático, an upcoming feature from the Central Bank of Brazil. Pix, which is already the second-most used instant payment method in the world, is set to evolve with the addition of recurring payment capabilities through Pix Automático. At EBANX, we are already helping our merchants prepare for this new feature, ensuring they are ready to take advantage of this innovation from day one, by offering early access to Pix Automático’s technical documentation and a simulated environment for testing. According to exclusive projections from PCMI in Beyond Borders, Pix Automático has the potential to generate more than $30 billion in online recurring payments within the next two years.
Anti-fraud and risk management technologies
Security is crucial in the payments industry, especially when dealing with cross-border transactions in emerging markets. EBANX has made significant advancements in our anti-fraud and risk management solutions. We leverage machine learning to power real-time transaction scoring, helping us identify and prevent fraud without compromising transaction approvals. Our smart routing and smart retry features, along with continuous chargeback automation, ensure safer transactions while minimizing chargebacks. EBANX software’s performance demonstrates an average boost of up to 5 percentage points in approval rates across certain verticals. We take into account local buyer behavior and financial IDs, which means our fraud prevention is tailored to each country and vertical. This allows us to offer optimal protection without affecting the user experience, a crucial aspect for global merchants.
Chinese retail giants offering Nequi to their Colombian customers through EBANX – a global technology company specializing in payment services for rising markets – have seen an average month-over-month increase in the platform’s transaction volume of 34 percent since September of last year. This growth highlights the rising influence and adoption of Nequi, Colombia’s leading digital wallet. The platform, which surpassed 21 million users in 2024, is driving a shift in Colombia’s digital market – the third-largest in Latin America.
How can companies (Chinese companies or other companies) benefit from using Nequi? For corporations looking to expand into Latin America, what are the most compelling reasons to prioritize Colombia and the Nequi ecosystem?
Two main factors drive companies to consider Colombia and Nequi when looking to expand internationally: Colombia is the third-largest and one of the most tech-savvy digital markets in Latin America and Nequi stands out as the leading mobile payment method in the country’s e-commerce.
Our latest annual study, Beyond Borders 2025, reveals that consumer spending in Latin America is expected to grow by 57 percent over the next decade, presenting significant opportunities for Chinese companies seeking to offset slower domestic growth. While Brazil remains the regional dominant force in digital commerce and is our headquarters, other countries like Colombia, Mexico, and Peru are rapidly emerging.
Online retail sales in Colombia are expected to grow 28 percent this year and accelerate at a 23% rate per year by 2027, according to Payments and Commerce Market Intelligence (PCMI) data analyzed by EBANX. The Latin American country is also particularly attractive for Chinese companies due to the strong existing trade relationship between the two countries. China is already Colombia’s main trade partner for imports, and there is a growing demand for Chinese products in the Colombian market.
Colombia also has the highest share of mobile purchases in digital commerce across all Latin American countries, at 87 percent, per PCMI data in Beyond Borders. This underscores the popularity that Nequi, a platform purpose-built for mobile-first users, has achieved among Colombian consumers.
Created by the financial institution Bancolombia, the mobile platform provides users with access to payments, transfers, bank accounts, and credit products. According to Nequi’s internal data, three out of five adults in Colombia use the platform to manage their finances from their smartphones. Nequi also provides access to e-commerce: According to Statista’s data, almost half of mobile payment users in Colombia do not own a credit card (48 percent). Meanwhile, account-based transfers, like Nequi, are projected to grow at an annual rate of 24 percent in the country’s e-commerce through 2027, per PCMI.
Since 2020, when EBANX announced the integration with Nequi, the Colombian platform’s user base has jumped from 4.8 million to 21 million. This phenomenon has been incredibly beneficial for Chinese companies.
According to our internal data, Nequi’s volume for two Chinese retail giants has been growing at a monthly rate of 34 percent since September of last year.
By integrating Nequi as a payment option, Chinese companies can cater to this booming segment of Colombian online consumers who prefer to transact using their smartphones and unlock the growth opportunities there.
Even recognizing the potential of Nequi, it is important to highlight that there is no one-size-fits-all solution when it comes to payments. At EBANX, we always recommend merchants offer multiple payment options to consumers.
In Colombia, we are closely following the digital payment revolution. Alongside Nequi, other emerging local solutions are driving a transformative impact on the country’s e-commerce. This is the case with PSE (Pago Seguro en Línea) and the soon-to-launch Bre-B.
While alternative payment methods (APMs) like Nequi and PSE have grown substantially in Latin America, including Colombia, there is also a growing trend where card issuers are investing in innovative features and improving the overall user experience. These investments not only strengthen the loyalty of existing customers but also attract a new base of consumers seeking financial solutions that align with their digital lifestyle.
Beyond just transaction volume, what’s the long-term strategic value for Chinese companies in establishing a foothold in the Colombian market via Nequi?
Beyond just transaction volume, there are significant long-term strategic advantages for Chinese companies establishing a foothold in Colombia through Nequi, particularly in terms of customer experience and financial inclusion.
First, the customer experience is key. Nequi offers a smooth and seamless payment journey, which is crucial for retaining customers in competitive markets. The QR code feature, for example, allows for quick and easy in-person transactions, catering to the widespread mobile-first behavior of Colombian consumers.
Additionally, Nequi’s instantaneous refund process is a streamlined approach that ensures a hassle-free experience for merchants
and helps build customer satisfaction and trust.
Second, there is the broader social impact of promoting financial and digital inclusion in Colombia. Nequi is empowering individuals and businesses, particularly in underserved communities, by offering a payment method that doesn’t require a traditional bank account. With 48 percent of mobile payment users in Colombia lacking access to a credit card, platforms like Nequi are helping bridge this gap and enable more Colombians to participate in the digital economy.
For Chinese companies, integrating Nequi alongside other payment options presents a significant opportunity to tap into a large, previously underserved market. In doing so, merchants can drive business growth while contributing to the country’s economic development by broadening access to essential financial services. This is particularly important as Nequi has become a key tool for small business owners, who can now accept digital payments, manage their finances, and even purchase goods internationally with ease.
In the long run, these factors – enhanced customer experience and financial and digital inclusion – help create a strong, sustainable market presence for Chinese companies in Colombia, giving them a competitive edge as the digital economy continues to evolve.
Beyond retail giants, what other types of businesses (e.g., in sectors like travel, entertainment, or financial services) can benefit most from integrating with Nequi and similar platforms?
Nequi is playing an increasingly important role in the B2B trade sector. Colombian businesses and entrepreneurs increasingly use the platform for financial management, representing more than 15% of its total user base, according to Nequi’s internal data. This positions Nequi as a crucial tool for businesses, particularly for those in Colombia engaged in cross-border trade and importing from China.
This is true across the Latin America region: local, digital, and alternative payment methods, like Pix in Brazil, Nequi in Colombia, and SPEI in Mexico, offer fast settlement times for B2B transactions. Therefore, they facilitate money transfers and include more businesses, particularly smaller ones, in the digital trade.
An analysis based on internal data from EBANX corroborates that the preference for alternative, instant payments for B2B online purchases is extremely high across Latin America. In Brazil, for instance, 51 percent of B2B online sales were paid with Pix, while in other markets in the region, other account-based transfers were the number one payment option.
Our strategic partnership with XTransfer, China’s top B2B cross-border trade payment platform, aims at streamlining B2B trade payments in Latin America.
This collaboration is empowering XTransfer’s clients – small and medium-sized enterprises (SMEs) worldwide working with imports and exports – to navigate Latin America’s digital economy with greater ease and efficiency.
Navigating the digital wave: opportunities & growth explored in EBANX’s Beyond Borders 2024 report