Bank / Credit Union

Ebanx expands in Central America

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March 22, 2021

Ebanx, a fintech company specializing in payments for Latin America, has started its expansion throughout Central America by launching operations in Costa Rica and going live in El Salvador, Panama, Guatemala, and the Dominican Republic by the first half of 2021. The company also added operations in Paraguay, according to a press release.

With this expansion, Ebanx will reach 15 countries in Latin America in a push to expand its business throughout the region, which is becoming one of the fastest-growing digital commerce markets in the world.

"We are very excited to start our expansion in Central America, a region that is growing quickly in terms of e-commerce and digitization, and which has a great unknown potential for global companies," André Boaventura, partner and CMO at Ebanx said in the release. "The arrival of Ebanx in the region will not only allow these companies to expand their addressable market, but will also have a positive impact by expanding this population's access to digital products and services."

Ebanx started to offer its payments solutions outside Brazil, its home country, in 2015, with the launch of operations in Mexico and Peru. Colombia, Chile, Argentina, Ecuador, Bolivia and Uruguay came within the following years. With the expansion throughout Central America, the company adds an approximate $12 billion e-commerce market to its operations.