Brazilian Unicorn Ebanx Enters Nigerian Market

By Adedapo Adesanya

EBANX, a global payments fintech company founded in Latin America, says it is expanding its operations and payments solutions outside its primary base for the first time with Nigeria among the new destinations in the African market

After growing its footprint to 15 Latin American countries for more than a decade, EBANX says it has prioritized global expansion on the African continent, which it believes is the next big growth frontier for digital payments and the digital market during the 2020s.

In Nigeria, EBANX solutions will contemplate popular local payment methods including – USS which will involve a session-based protocol that travels over the GSM signalling channel to query information and trigger services. This will enable customers to pay for their e-commerce shopping.

Another service it will offer is bank transfers, which will enable customers to pay for online purchases quickly and easily without needing a credit or debit card. The company says it is tapping into this since bank transfers remain one of Nigeria’s leading alternative payment methods because they are very secure and reliable.

Speaking on this, Mr João Del Valle, CEO and co-founder of EBANX said, “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.

“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.”

On her part, Ms Paula Bellizia, President of Global Payments at EBANX said – “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.

“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.”

“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,” Ms Bellizia said.