4 October 2023

Digital Technology Guru

Digital Technology Guru Reviews

EBANX Expands Operations to India to Tap into Booming Digital Commerce Market

2 min read
EBANX Expands Operations to India to Tap into Booming Digital Commerce Market

Tech company EBANX has announced its expansion into the Indian market, adding to its existing operations in 18 countries across Latin America and Africa. The move aims to bridge the gap between global businesses and Indian customers, offering secure and convenient local payment solutions. With India’s digital commerce sector projected to grow 35% 2025, reaching a market worth over USD 100 billion, EBANX sees immense potential in the country. By leveraging the growing trend of digital payments in India, the company aims to empower businesses and customers across various industries including SaaS, Digital Gaming, Social Media, Digital Ads, Streaming, and Online Retail.

India’s digital payment landscape is dominated the Unified Payments Interface (UPI), a real-time payment system created the National Payments Corporation of India (NPCI) in 2016. UPI combines multiple banking services and enables instant and secure smartphone transactions. With over 300 million users and processing over USD 1 trillion in transactions in the past year, UPI has gained widespread adoption and is a key focus for EBANX’s entry into the Indian market.

The strategic move EBANX aligns with India’s ambitious goals of becoming the world’s third-largest economy 2027, surpassing Japan and Germany, and doubling its GDP 2031. As EBANX expands its operations, the company aims to empower businesses, customers, and entire ecosystems in rising markets, connecting them to the global digital economy.

Sources:
– Statista and Morgan Stanley projections
– NPCI information on UPI
– Statement João Del Valle, CEO and Co-founder of EBANX
– Statement Paula Bellizia, President of Global Payments at EBANX