Best International CNP Program
EBANX, which describes itself as the leader in cross-border payment processing for international merchants selling online to Brazil and LATAM, walks away with this year’s Judges Choice Award for Best International CNP Program.
Launched in 2011, EBANX enables merchants to sell online to Brazilian consumers, who can pay using their preferred local payment methods: Boleto, international and local credit cards, and bank transfer. EBANX collects the funds locally from consumers and settles the funds abroad to merchants daily at what it considers the fastest time on the market today.
The largest economy in Latin America, Brazil has the sixth largest e-commerce market in the world with $14 billion in online sales in 2014 and a 25 percent year-over-year increase. Brazil makes up 60 percent of online sales in Latin America.
EBANX is in the heart of this e-commerce explosion. Headquartered in Curitiba, Brazil, with offices in Sao Paulo, Singapore and Malta, EBANX employs 80 people around the world, an increase from just 10 employees in 2012.
The introduction of the local payment methods offered by EBANX allow consumers to buy online from merchants around the globe even if they don’t have credit cards or a bank account. With only 30 percent of Brazilians having credit cards, it is critical for merchants to offer Boleto in order to reach 100 percent of the market, according to EBANX.
EBANX works with merchants from every country that sell online into LATAM. Today there are more than 200 merchants using EBANX from over 50 countries, the company says, adding that there are over six million registered users, which accounts for 3 percent of the Brazilian population. To address the growing demand from merchants, EBANX expanded into Peru in 2014 and is launching in Mexico, Chile and Colombia this year.