After strengthening its presence in 15 Latin American countries over the past ten years, EBANX has prioritized its global expansion on the African continent, which the company believes will be the next big growth frontier for digital payments and digital market in the coming years.
"This is Africa's moment, it is very reminiscent of the Latin American scenario in 2012," said João Del Valle, CEO and co-founder of EBANX.
"Africa has great potential for growth. Digital adoption and consumption of online goods and services have accelerated rapidly in African countries, and a lot of investment capital has been injected 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 companies interested in building their market share in the region," she added.
According to Endeavor's report, "The Inflection Point: Africa's digital economy is poised to take off," the three African countries that EBANX is focusing on at this early stage, South Africa, Kenya and Nigeria, along with Egypt, represent 32% of the continent's population, 51% of its GDP and 73% of the startups accelerators active on the continent today. Africa's compound annual growth rate (CAGR) from 2010 to 2019 was higher than both Europe and Latin America.
Importantly, the high level of mobile penetration and consumption in African countries positions the region as the "next frontier" - but while increased mobile access helps drive online shopping in Latin America during the latter 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 huge population of more than 1 billion people, EBANX says in a statement.
According to a report released in June 2022 by Endeavor, with input from McKinsey & Company, there is currently a $115 billion digital economy in the region. When it comes to the digital gaming market, the African region is the fastest growing in the world, according to Newzoo. It is currently a US＄ 2.6 billion market, scaling five times faster than the global average by 2022, and is expected to grow at nearly 10% per year through 2026. The streaming market in Africa, meanwhile, currently US＄1.9 billion, is expected to accelerate even faster, at a rate of 14% per year through 2026.
Pipefy is a powerful low-code SaaS platform for workflow management, was founded in 2015 in Latin America, now has operations in over 200 countries and is present in Africa with EBANX as its payments partner. "Expanding our solutions into African countries speaks directly to EBANX's mission of creating access, and having Pipefy as a merchant makes this moment even more special for us, expanding solutions and services in regions full of opportunities," said Bellizia.
EBANX solutions in Africa include:
South Africa:
Instant EFT by OZOW allows online shoppers to access the internet bank to make an instant verified Electronic Funds Transfer (EFT). EFT is the second most popular online payment method in South Africa today.
In Kenya:
M-Pesa, a mobile banking service that allows users to store and transfer money as well as pay for online purchases through their cell phones. M-Pesa was introduced in Kenya as an alternative way for the country's population to access financial services.
Nigeria:
USSD, a session-based protocol that travels over the GSM signaling channel to query information and trigger services. It allows customers to pay for their digital commerce purchases.
Bank transfers, which allow customers to pay for online purchases quickly and easily without needing a credit or debit card. They are one of the main alternative payment methods in Nigeria because they are very secure and reliable.
Full Article in FintechBrasil
After strengthening its presence in 15 Latin American countries over the past ten years, EBANX has prioritized its global expansion on the African continent, which the company believes will be the next big growth frontier for digital payments and digital market in the coming years.
"This is Africa's moment, it is very reminiscent of the Latin American scenario in 2012," said João Del Valle, CEO and co-founder of EBANX.
"Africa has great potential for growth. Digital adoption and consumption of online goods and services have accelerated rapidly in African countries, and a lot of investment capital has been injected 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 companies interested in building their market share in the region," she added.
According to Endeavor's report, "The Inflection Point: Africa's digital economy is poised to take off," the three African countries that EBANX is focusing on at this early stage, South Africa, Kenya and Nigeria, along with Egypt, represent 32% of the continent's population, 51% of its GDP and 73% of the startups accelerators active on the continent today. Africa's compound annual growth rate (CAGR) from 2010 to 2019 was higher than both Europe and Latin America.
Importantly, the high level of mobile penetration and consumption in African countries positions the region as the "next frontier" - but while increased mobile access helps drive online shopping in Latin America during the latter 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 huge population of more than 1 billion people, EBANX says in a statement.
According to a report released in June 2022 by Endeavor, with input from McKinsey & Company, there is currently a $115 billion digital economy in the region. When it comes to the digital gaming market, the African region is the fastest growing in the world, according to Newzoo. It is currently a US＄ 2.6 billion market, scaling five times faster than the global average by 2022, and is expected to grow at nearly 10% per year through 2026. The streaming market in Africa, meanwhile, currently US＄1.9 billion, is expected to accelerate even faster, at a rate of 14% per year through 2026.
Pipefy is a powerful low-code SaaS platform for workflow management, was founded in 2015 in Latin America, now has operations in over 200 countries and is present in Africa with EBANX as its payments partner. "Expanding our solutions into African countries speaks directly to EBANX's mission of creating access, and having Pipefy as a merchant makes this moment even more special for us, expanding solutions and services in regions full of opportunities," said Bellizia.
EBANX solutions in Africa include:
South Africa:
Instant EFT by OZOW allows online shoppers to access the internet bank to make an instant verified Electronic Funds Transfer (EFT). EFT is the second most popular online payment method in South Africa today.
In Kenya:
M-Pesa, a mobile banking service that allows users to store and transfer money as well as pay for online purchases through their cell phones. M-Pesa was introduced in Kenya as an alternative way for the country's population to access financial services.
Nigeria:
USSD, a session-based protocol that travels over the GSM signaling channel to query information and trigger services. It allows customers to pay for their digital commerce purchases.
Bank transfers, which allow customers to pay for online purchases quickly and easily without needing a credit or debit card. They are one of the main alternative payment methods in Nigeria because they are very secure and reliable.
Full Article in FintechBrasil
After strengthening its presence in 15 Latin American countries over the past ten years, EBANX has prioritized its global expansion on the African continent, which the company believes will be the next big growth frontier for digital payments and digital market in the coming years.
"This is Africa's moment, it is very reminiscent of the Latin American scenario in 2012," said João Del Valle, CEO and co-founder of EBANX.
"Africa has great potential for growth. Digital adoption and consumption of online goods and services have accelerated rapidly in African countries, and a lot of investment capital has been injected 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 companies interested in building their market share in the region," she added.
According to Endeavor's report, "The Inflection Point: Africa's digital economy is poised to take off," the three African countries that EBANX is focusing on at this early stage, South Africa, Kenya and Nigeria, along with Egypt, represent 32% of the continent's population, 51% of its GDP and 73% of the startups accelerators active on the continent today. Africa's compound annual growth rate (CAGR) from 2010 to 2019 was higher than both Europe and Latin America.
Importantly, the high level of mobile penetration and consumption in African countries positions the region as the "next frontier" - but while increased mobile access helps drive online shopping in Latin America during the latter 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 huge population of more than 1 billion people, EBANX says in a statement.
According to a report released in June 2022 by Endeavor, with input from McKinsey & Company, there is currently a $115 billion digital economy in the region. When it comes to the digital gaming market, the African region is the fastest growing in the world, according to Newzoo. It is currently a US＄ 2.6 billion market, scaling five times faster than the global average by 2022, and is expected to grow at nearly 10% per year through 2026. The streaming market in Africa, meanwhile, currently US＄1.9 billion, is expected to accelerate even faster, at a rate of 14% per year through 2026.
Pipefy is a powerful low-code SaaS platform for workflow management, was founded in 2015 in Latin America, now has operations in over 200 countries and is present in Africa with EBANX as its payments partner. "Expanding our solutions into African countries speaks directly to EBANX's mission of creating access, and having Pipefy as a merchant makes this moment even more special for us, expanding solutions and services in regions full of opportunities," said Bellizia.
EBANX solutions in Africa include:
South Africa:
Instant EFT by OZOW allows online shoppers to access the internet bank to make an instant verified Electronic Funds Transfer (EFT). EFT is the second most popular online payment method in South Africa today.
In Kenya:
M-Pesa, a mobile banking service that allows users to store and transfer money as well as pay for online purchases through their cell phones. M-Pesa was introduced in Kenya as an alternative way for the country's population to access financial services.
Nigeria:
USSD, a session-based protocol that travels over the GSM signaling channel to query information and trigger services. It allows customers to pay for their digital commerce purchases.
Bank transfers, which allow customers to pay for online purchases quickly and easily without needing a credit or debit card. They are one of the main alternative payment methods in Nigeria because they are very secure and reliable.
Full Article in FintechBrasil
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