The fintech already operates in Brazil, its home country, Mexico, Colombia, Argentina, Chile, Peru, Bolivia, and Ecuador, in addition to Uruguay, offering card payments and local alternative payment methods for global businesses expanding to Latin America.
In the first phase of the expansion, EBANX will offer card payments processing in the country, for both international and domestic debit and credit cards (that cannot process foreign currencies).
Within a landscape of high GDP per capita compared to other Latin American countries, of over USD 17,200, and an internet penetration rate of almost 75%, Uruguay is experiencing an year over year growth of its digital commerce market. In this year's Uruguayan Cyber Monday (Ciberlunes), that took place at the end of May 2020, online purchasing had a 21% increase in relation to 2019 edition, that took place in the beginning of June, as reported by Cámara de la Economía Digital del Uruguay (CEDU), the Uruguayan chamber of digital economy.
By integrating once with EBANX, merchants are able to unlock the potential not only of Uruguay, but all of the nine countries of its portfolio at once.
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