SAO PAULO (Reuters) – Brazilian financial technology company Ebanx is expanding its operations to India, marking its entry into the Asian market, the firm said on Monday.
The move is part of the firm’s global expansion strategy in developing countries and comes shortly after it announced its expansion to three nations in Africa last month, the first outside Latin America.
Ebanx will enable global merchants to offer customers in India the most popular local payment methods, starting with the local payment system Unified Payments Interface (UPI) and cards, it said.
“As the Indian market warmly embraces digital payments and digital commerce continues its rapid growth, we see great opportunities for businesses and meaningful partnerships being fostered,” said Paula Bellizia, the firm’s president of global payments.
In Latin America, Ebanx processes payments for companies such as Airbnb, Spotify and Uber.
(Reporting by Andre Romani; Writing by Peter Frontini; Editing by Tomasz Janowski)
