Following this announcement, customers in the region of Colombia will be enabled to pay for products and services around the world with the security and ease of a bank transfer. The Botón Bancolombia payment methods were developed by Bancolombia Bank in order to allow clients to make convenient and protected bank transfers when purchasing online, from various digital commerce sectors, including streaming, gaming, travel, SaaS, online retail, and others.
The partnership also focuses on streamlining and optimising the bank transfer experience within the digital economy in the country, which will provide access and connect individuals and businesses in Colombia to the global digital commerce market. This is expected to contribute to the increased conversion rate and payment processing efficiency.
EBANX clients and businesses will be enabled to integrate this solution into their checkout, offering their users who have a Bancolombia account a simple and secure payment method. Recurring payment features are also set to be available in Q2 of 2024, which will improve customers’ payment experience for digital commerce merchants that have subscription services.
Tech company that specialises in payments for riding markets, EBANX had multiple partnerships and developments in the last couple of months, covering several different geographic areas around the world.
In November 2023, EBANX announced the launch of its new Product Series, which contained anti-fraud measures, B2B payment processing updates, as well as other features and capabilities. The suite was released for 29 countries in the regions of LATAM, the Caribbean, Africa, and Asia. Following this announcement, EBANX aimed to provide its merchants and partners in the areas with secure and efficient solutions, while also focusing on connecting both ends through augments payments tools. In addition, the launch also delivered advanced technology that prioritised the privacy and high performance of payment transactions on the company’s platform.
EBANX’s software’s performance demonstrated an average boost of up to 5% in approval rates across certain verticals, which were coupled with a reduction in chargeback rates by 0.67% as well. According to the press release published at the time, the service also offered a balance between approval rates and fraud prevention capabilities.
Earlier in September 2023, EBANX announced the expansion of its operations and services in the region of India. Through this expansion, EBANX aimed to use its technological and financial solutions in order to provide global businesses and merchants with the possibility to extend local transaction methods to their Indian customers, starting with the local real-time payment system UPI (the Unified Payments Interface) and cards.
UPI was made available 24/7 and it was developed in order to enable users to make payments and send or receive money by using a unique UPI ID or scanning QR codes. The system also included multiple features, such as the ability to schedule payments for subscriptions.
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