EBANX announces its new product series

Monday 20 November 2023 12:57 CET | News

EBANX has unveiled its new Product Series containing anti-fraud measures, B2B payment processing updates, and more for 29 countries in LATAM, Caribbean, Africa, and Asia.


With its expansion across markets in Africa and the Caribbean, and its debut in the Asian region with operations launched in India, EBANX strategically positions itself to serve its merchants and these growing regions by connecting both ends through augmented payment solutions. Additionally, the new products bring advanced technology that prioritises the security and high performance of payment transactions on the platform.

EBANX has unveiled its new Product Series containing anti-fraud measures, B2B payment processing updates, and more for 29 countries in LATAM, Caribbean, Africa, and Asia.

Machine learning-based fraud prevention

Serving global merchants that operate cross-border transactions in rising economies, EBANX's fraud and risk management solution offers a suite of cutting-edge features. These include real-time transaction scoring driven by advanced machine learning, seamless continuous chargeback automation, A/B testing to minimise false positives, and tailor-made industry-specific enhancements such as manual review and chargeback coverage.

EBANX software's performance demonstrates an average boost of up to 5% in approval rates across certain verticals, coupled with a reduction in chargeback rates by 0.67%, according to the press release. The solution offers a balance between approval rates and fraud prevention.

Adapting to diverse verticals and local buyer behaviour

Fraud may not happen the same way or through the same payment methods for subscription services as they do for online travel, SaaS transactions, or physical goods in online retail. That's why EBANX's new solution considers the local behaviour and financial ID of buyers in each of the countries and verticals.

The anti-fraud solution has three essential layers of protection: initial analysis, antifraud machine, and smart retry. The main innovation is within the second layer, where the solution rolls out its antifraud proprietary machine when cards are used, already considering the business model and the vertical the transaction belongs to. This step scores each transaction based on more than 100 behaviour combinations, local data, and parameter crossing. It uses hard rules and machine learning to continually categorise patterns, including new fraudulent behavioural patterns that may appear in rising markets.

A second step in this layer, which goes for both cards and alternative payments, is routing the transaction crosswire EBANX's complete set of anti-fraud tools to find the best performing one for that particular transaction and payment method.

Pay-in, payout, and optimised B2B payment processing

EBANX has also improved its pay-in and payout solutions – the latter is now available in 25 markets that EBANX serves. The features now offer a full-circle experience for companies that need to receive payments from their customers but also need to make payments to their respective partners and collaborators. The solution offers the convenience of making payments in any amount and local currency. This not only simplifies the process but also removes barriers for companies wishing to expand in international markets, allowing them to offer payments on a truly global level.

For B2B payments, the novelty is that merchants can now not only process large transactions but also manage the entire payment and receivables process efficiently and streamlined. EBANX's solution is 360: it allows for better organisation of invoices and payment receipts, all on the same platform to facilitate the process.

EBANX's Invoice solution improves B2B payment experiences by fostering interoperability among real-time payment systems, reducing intermediaries. This product streamlines receivables through the EBANX Dashboard, enabling invoicing in local currency, accommodating various payment methods such as cards, bank transfers, and e-wallets.

In another enhancement for B2B operations, EBANX expanded its High-Value Tickets solution to more countries: EBANX's merchants can now process transactions up to USD 100,000 in Mexico, Colombia, Peru, Chile, Argentina, and Nigeria, besides Brazil. This solution reduces intermediary costs by delivering an automated, customised, and transparent billing system on the checkout page.

Efficient card processing performance

Another highlight of this EBANX Product Series is the improvement in card processing performance, including a set of card optimisation tools that balance approval rates and chargeback levels, using innovative features tied to the company's technical expertise.

The company employs 3D Secure, Network Tokenization, Pre-Authorisation, and more in regulated markets, extending these tools to non-regulated markets. The use of BIN-specific data enhances authorisation success, quickens processing, improves performance, enhances user experiences, and ensures a safer transaction environment for all parties.

EBANX arrives in new markets

One year post-launch in Africa, EBANX expands to 8 more African countries and 2 Caribbean nations. The new additions include Ivory Coast, Egypt, Ghana, Morocco, Senegal, Tanzania, Uganda, and Zambia in Africa, and Jamaica and The Bahamas in the Caribbean. Prior to this, EBANX entered Asia, initiating payment processing in India, enabling global merchants to connect with Indian buyers through cards and UPI. This extension strengthens EBANX's presence across Latin America and Caribbean, Africa, and Asia, connecting 1,600 merchants to over 1 billion digital buyers across 29 countries.

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Keywords: payment processing, fraud prevention, B2B payments, payment methods, chargebacks
Categories: Payments & Commerce
Companies: EBANX
Countries: World
This article is part of category

Payments & Commerce


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