January 17

Brazil’s Unicorn FinTech EBANX Pilots Digital Wallet

Brazil’s unicorn FinTech and payments startup EBANX is trialing a digital wallet, called Ebanx Go, with 10,000 consumers on a test basis, the company announced on Wednesday (Jan. 15). The digital wallet offering is intended to solidify the FinTech’s reach in the Brazilian payments market.

“Providing access has always been the great mission of EBANX. We started with Latin American payment solutions for international websites, which helped popularize global products and services such as Airbnb, Spotify and AliExpress in Brazil and in seven other Latin American countries,” said Wagner Ruiz, co-founder and CFO of EBANX.

Founded in 2012, EBANX originally processed payments for Brazilian clients of global websites and recently expanded to offer services to Brazilian eCommerce platforms.

With an EBANX account, customers will get a card with 5 percent cash-back rewards and app-based payments features.

The company is also considering a savings account product and other services, with possible rollouts to more Latin American countries. Beyond Brazil, EBANX operates in Mexico, Colombia, Argentina, Chile, Peru, Ecuador and Bolivia.

Photo courtesy of Ava Systems.

Source: PYMN (link opens in a new window)

digital finance, digital payments, fintech