EBANXPaytech, focused on LatAm and Africa, has launched a range of new products ranging from mega payments to micro payments to single transactions for retail marketplaces. Additionally, the company has announced a new automated payment solution to simplify and accelerate high-value transactions in the $11 billion B2B SaaS/Cloud market in LatAm.
EBANX starts its new automated payment product for high value tickets
Despite the tremendous growth of SaaS and cloud adoption in Latin America, it has been very difficult to process high-value B2B transactions quickly and cost-effectively via the automated checkout process and flexible payment options.
To meet this challenge, EBANX has announced the launch of its new high-value automated ticket payment offering for global and regional companies looking to sell cloud, ERP, IT services or SaaS subscriptions across Latin America. The launch took place at the sixth edition of EBANXis annual Latin America Summittaking place in Mexico City for the first time this week.
The new solution, which enables automated purchases at the checkout starting at $10,000, is designed to handle large tickets with an average value of hundreds of thousands of dollars, while being fully compliant and ensuring all the necessary controls to avoid financial losses avoid.
The first market that EBANX introduced in Brazil, subject to specific regulatory restrictions and controls by EBANX‘s partner financial institution, and will soon reach other Latin American countries EBANX already works. Brazil is LatAm’s largest economy, where companies are expected to invest $2.9 billion in data projects by the end of this year, according to a joint ABES/IDC research study released in June. The country is the 10th largest market for IT software, equipment and services in the world.
The market for these lucrative SaaS/Cloud services in LatAm is estimated to be worth US$11 billion by the end of 2022 based on a EBANX Analysis of current data from research companies IDC and Netscribes. IDC analysts are forecasting a 20 to 35 percent increase in cloud usage in most Latin American countries over the next few years. On a global scale, the public cloud IaaS and PaaS market will be worth $400 billion worldwide by 2025, with a CAGR of 28.8 percent by then, according to a recent global study by I.D.C.
“Prior to launching our new automated payment solution for B2B software and services companies, we carefully researched the sector to identify and solve the pain points of cloud and SaaS providers,” he said Paula BelliziaPresident of Global Payments EBANX. “Latin America has a fast-growing SaaS market that will grow at 27 percent per year through 2026, according to Netscribes. The B2B market represents 56 percent of the total volume, while the average contract value is estimated at $45,000 per year.
“Now at least half of cloud B2B purchases in LatAm are paid for manually via bank transfer – many of them in foreign currencies. The most common option was to use a SWIFT bank transfer, which can take up to five business days and incurs high transfer fees. We accelerate and automate transfers and ensure full reconciliation,” adds Bellizia.
That EBANX The high-ticket solution is the first of its kind in the Latino market. Cloud and SaaS providers benefit from automated, fast payment processes (almost real-time) and a better user experience – and more importantly, all transactions are carried out in full compliance with regulatory requirements EBANX‘s partner financial institutions and with enterprise-grade security that helps monitor and prevent fraud.
Plus, EBANX supports a wide range of alternative payment methods used in Latin America, from different currencies, such as B. digital wallets, voucher payments, domestic credit cards, recurring payments or one-time payments for the total value of the purchase.
“The B2B software and services vendors who tried the new solution in the initial phase saw simplified operation, automated processing from the point of sale, a reduction in time frame and an increase in cost efficiency,” he said Erika DaguaniVP of the product EBANX. “We’ve automated a process that’s really difficult to automate with our advanced, proprietary technology that offers a higher level of service and payment performance at a more affordable price.”
EBANX revealed three innovations to address three different burgeoning market opportunities in LatAm
As e-commerce expands at extreme rates in emerging markets like Africa and Latin America, global merchants now have new and better ways to conduct more types of online transactions. From the sixth edition of its annual Latin America Summit, EBANX unveiled three innovations to address three distinct burgeoning market opportunities: the ability to process high-value transactions for the $11 billion B2B SaaS/Cloud sector in LatAm – starting in Brazil; and a new single-transaction feature that allows online shoppers to buy products from local and global sellers with just one last click on digital retail marketplaces.
“The creator economy is booming in Latin America, which has some of the biggest appetites for social media in the world,” he said Ariel PachikiChief Product Officer at EBANX. “There has been a trend in recent years that brands prefer to work with micro-influencers who have fewer social media followers but reach more niche interests. This phenomenon has led to an increasing need to provide smaller micropayments for these everyday social media influencers, who have emerged in much larger numbers since the pandemic, to help brands sell products on social channels. This is what we strengthen.”
The increase in subscription options for creators since 2020 has led to recurring payment challenges for small-ticket values. The new micropayment features of EBANX deal with all these issues weighing on the creator economy, which is expected to be worth around $16 billion in LatAm in 2022.
on the downside, EBANX‘s ability to process mega-payments – from $10,000 per transaction, up to specific governmental limits and controls EBANX‘s Partner Financial Institution – is now available in Brazil, Latin America’s largest economy, to simplify and speed up the processing of payments for global and regional companies looking to sell cloud, ERP, IT services or SaaS subscriptions . B2B software and services merchants can now receive one-off or recurring payments for high ticket value transactions using the fintech’s automated, fast and trusted platform.
The market for these lucrative SaaS/Cloud services in LatAm is estimated to be worth US$11 billion by the end of 2022 based on a EBANX Analysis of current data from research companies IDC and Netscribes. IDC analysts are forecasting a 20 to 35 percent increase in cloud usage in most Latin American countries over the next few years. According to a recent global study by IDC, the public cloud IaaS and PaaS market will be worth $400 billion worldwide by 2025, with a CAGR of 28.8 percent by then.
Finally, to address a major challenge for online retailers and their shoppers, EBANX now offers a single transaction feature that allows consumers to buy multiple products from local and international sellers on online marketplaces and make a single payment instead of having to complete multiple transactions. EBANX processes the payments to each seller in the backend, but the buyer’s experience is now streamlined and simpler.
“Our new single transaction feature for retail marketplaces addresses a major pain point for the growing number of online retailers offering a mix of local and international products to in-country shoppers EBANX operates in Germany,” said Erika Daguani, VP of Product at EBANX. “Previously, consumers who bought products from several different countries had to make several different payments. Now they can enjoy a unified experience.”
In both Africa where EBANX Announced to expand into South Africa, Kenya and Nigeria, as well as Latin America, where it operates in 15 countries, the online retail segment is expanding at a rapid pace. After a record acceleration, online retail in Latin America is expected to grow 40 percent this year and consolidate as the largest vertical for the region’s digital commerce sector EBANX‘s Beyond the Boundaries 2021-2022 Research study update last fall. Revenues from online sales of groceries and personal care products are projected to grow steadily through 2025 in Africa’s leading economies. Fashion and electronics products are the two highest sales volumes via online shoppers in African countries, with fashion product sales expected to reach $13.4 billion. According to the International Trade Association, sales of electronics products are expected to reach 11 annual sales in about three years reach $.2 billion.