EBANX has announced plans to launch operations in Pakistan and has rolled out in-house Apple Pay token decryption across Latin America.
The company plans to start payment operations in Pakistan in the next semester. It is also rolling out, from September 2026, a model in which it decrypts Apple Pay tokens within its own infrastructure across Latin America and the Caribbean.
Pakistan follows five market launches in 2026
According to the official press release, the Pakistan move follows the addition of Thailand, Indonesia, Malaysia, Vietnam, and Türkiye to EBANX's footprint earlier in 2026. The first alternative payment methods (APMs) to go live will be the local wallets JazzCash and Easypaisa, each of which reports more than 50 million users. Integration with Raast, the country's national instant-payment rail, is set to follow. In addition, State Bank of Pakistan data cited by the company shows Raast transaction volume rising from 371.2 million in Q3 FY25 to 742.1 million in Q3 FY26.
EBANX cites merchant demand and the structural complexity of the market as the reasons for its choice. According to World Data Lab figures analysed by the company, ecommerce spending in Pakistan is projected to grow by an average of 22% annually between 2026 and 2030. That rate would more than triple the size of the online market over the decade. Among consumers aged 15 to 30, spending on video gaming, streaming, and social media is expected to grow 17% a year through 2036, while credit card ownership in this group is below 10%.
The company described Pakistan as a mobile-first market where smartphone ownership exceeds card ownership by 20 to 40% points. In that setting, account-based methods, bank transfers, and digital wallets become the main routes to reaching consumers, which creates fragmentation for global merchants. EBANX was founded in Brazil in 2012 to give international brands access to the Boleto bank slip. It now offers more than 400 rails and 200 payment methods and processes over four million transactions per day.
Apple Pay decryption moves into the acquiring stack
Under the new Apple Pay model, EBANX receives encrypted tokens directly. It then handles decryption, certificate, and security key management, and end-to-end PCI DSS compliance within its own infrastructure, so merchants no longer manage the decryption layer themselves. The company states that it is the only PSP with local acquiring in all 11 Latin American and Caribbean markets where Apple Pay operates. The model covers one-time and recurring transactions and extends an existing Apple Pay partnership in Brazil to markets from Guatemala to Argentina.
Early production data shared by EBANX shows tokenised wallet transactions reaching a 94.4% approval rate, 11 percentage points higher than non-tokenised card transactions. Furthermore, the average order value was 23.5% above standard card purchases.
Tokenised wallets already hold a measurable share of regional ecommerce. According to Payment and Commerce Market Intelligence (PCMI) data sourced by EBANX, they account for approximately 25% of ecommerce card volume in Brazil, 20% in Chile, 16% in Mexico, 15% in Colombia, 13% in Argentina, and 9% in Peru.
The two announcements address different parts of emerging-market payments. In Pakistan, EBANX is entering a market where wallets and instant-payment rails matter more than cards. In Latin America, it is taking over the technical and compliance work of token decryption as wallet usage grows within card-based ecommerce.
