Fintech Ebanx has announced Push LatAm, an initiative that comprises expansion of its operations to new markets in Central and South Americas.
The offering of hybrid services within Latin American countries; and the launch of EBANX GO, a prepaid card that offers a digital payments account in a partnership with Visa also going to other markets in the region besides Brazil; all within the next 12 months.
Push LatAm was announced this Thursday, October 15, at the Latin America Summit, an EBANX annual event about business in Latin America.
EBANX expansion to Central America will commence in Panama, Costa Rica, Dominican Republic and Guatemala. Paraguay, in South America, is also a destination. These five new markets will add to the current nine where the company already operates – Brazil, Mexico, Colombia, Argentina, Chile, Peru, Uruguay, Bolivia and Ecuador.
João Del Valle, co-founder and COO of EBANX commented: “The Push LatAm initiative reflects our mission from the beginning of EBANX: to create access, to connect Latin Americans and global brands, always with a customer and product-driven mindset.
“Expanding our footprint and our solutions right now is the perfect realisation of this goal. This will enable us to keep excelling in our commitment with Latin America: to be highly specialised in the region, translating each one of its countries and their singular cultures to businesses around the world.”
As well as the geographical growth, Push LatAm also consists of model expansion. After having unveiled its local payment processing, EBANX will now launch its hybrid model, making things more flexible for global companies that have offices in the region, in a fully compliant way. By combining cross-border and local processing services within the same territories, this new model will allow local settlements for merchants, starting by South American countries.