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Colombia, Financial Services
Brazil, Financial Services
Uruguay, Financial Services
EBANX is allowing Latin Americans to use domestic payments for digital transactions with merchants anywhere in the world. The company functions by offering tech solutions so that merchants can accept local payments from Latin American countries. EBANX processes transactions in these countries, in their local currencies – through its local entities –, deals with the conversion process and then transfers the money to the merchant.
EBANX’s three entrepreneurs, Alphonse Voigt, Wagner Ruiz, and João Del Valle, met over 10 years ago when their paths crossed in the tech and finance scene. Foreseeing the growth that e-commerce would have in Brazil, Alphonse decided to create a solution to bridge the payment gap that existed between Brazilians and international websites. He recruited the other founders because of their diverse expertise – business, finance, and technology. Together, they started in a new industry with huge growth potential. With the entrepreneurs’ extensive connections, EBANX quickly secured merchants, and when the company launched in 2012, it became profitable almost immediately.
By accepting domestic payments, EBANX’s online platform reduces commerce barriers between international merchants and Latin American consumers. It started by offering solutions from Brazil, but soon it expanded. Nowadays it also offers solutions from Mexico, Argentina, Colombia, Chile, Peru, and Ecuador. The value proposition is clear: for merchants, EBANX opens up billions in potential revenue; for end-users, EBANX makes it possible to buy from abroad paying with national payment methods such as boletos, bank transfers, and national credit cards. The company’s complementary management team has extensive industry experience that has positioned EBANX as the first mover in a nascent field.
The company has created a streamlined process that is revolutionizing e-commerce in Brazil and other Latin American countries, and the entrepreneurs have a complementary skill-set that has already proven successful in online payment solutions
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