#Singapore #AI tools #EBANX #Stablecoins

EBANX's Groundbreaking Innovations for Global Commerce

In a significant development for global commerce, EBANX, a leading technology firm in cross-border payment services, made impactful announcements at the recent EBANX Payments Summit held in Mexico City from September 17-20. The company, focusing on emerging markets across Latin America, Africa, and Asia, revealed new products and strategies aimed at enhancing digital payment solutions for global companies.

AI-Driven Payment Solutions

One of the key highlights of the summit was the introduction of artificial intelligence-powered tools designed to improve transaction approval rates while minimizing fraud risks. These tools harness advanced algorithms to assess over 100 data points for individual transactions, thereby delivering enhanced security and efficiency. In Brazil, the implementation of this AI-driven fraud detection system has already resulted in a remarkable increase in card approval rates by over four percentage points.

In addition to fraud detection, EBANX presented a smart routing system contingent on transaction risk levels. This innovative technology selects the best combination of acquirers and Merchant IDs (MIDs) in real-time, leading to approval rate increases of up to 10 percentage points across a sample of 170 merchants, demonstrating significant potential for businesses seeking reliable payment processing.

The Emergence of Stablecoin Payments

A game-changing aspect of EBANX's announcements is the forthcoming acceptance of stablecoins for transactions in emerging markets. This groundbreaking feature enables merchants to receive payments in stablecoins such as USDC or USDT, alongside existing fiat currencies, thereby streamlining cross-border commerce. Eduardo de Abreu, VP of Product at EBANX, highlighted the power of stablecoins as a tool for facilitating faster and more reliable transactions, particularly in regions with less robust banking infrastructure.

A report from Fireblocks emphasizes that Latin America is pivoting toward stablecoins with 71% of financial institutions utilizing them compared to a global average of 49%. As transaction values soar on local exchanges, stablecoin adoption is predicted to surge, positioning EBANX at the forefront of this payment revolution.

Expansion Into the Philippines

As part of its strategic expansion, EBANX is making headway into the Philippines, one of Southeast Asia's fastest-growing digital economies. The integration of leading digital wallets—GCash and Maya—will significantly enhance the accessibility of digital payment methods for the local population, which predominantly relies on cash transactions. In a country where only 3% of the population holds credit cards, digital wallets are gaining ground, capturing a 38% share of online purchases.

This expansion affords global merchants the opportunity to tap into a burgeoning market projected to reach USD 61 billion by 2028. With an internet penetration rate of 98%, the digital landscape in the Philippines is ripe for innovation. EBANX’s strategy allows local consumers to pay in Philippine Pesos (PHP) while enabling merchants to secure settlements in US dollars effortlessly.

Innovative Payout Solutions

Beyond new payment methods, EBANX introduced its Payout solution, facilitating instant payments to partners and sellers across emerging markets. This feature operates dynamically through domestic payment channels such as Pix in Brazil, allowing for efficient disbursements without needing a local business entity. With a market-leading approval rate of 97%, this instant payout capability aligns perfectly with the needs of global merchants looking to streamline their operations.

Moreover, the launch of new Payment Bundles provides a simplified access path for merchants to deploy various payment methods easily. By offering multiple payment options streamlined through single API integration, EBANX alleviates the complexities associated with fragmented payment solutions, which often hinder market entry.

Conclusion

EBANX is setting a solid foundation for future digital commerce in emerging markets with its cutting-edge technologies and strategic expansions. The combination of AI-driven tools, stablecoin payments, and broadening market engagement is poised to redefine how companies operate in digital financial spaces. As the e-commerce landscape continues to evolve, EBANX remains committed to enabling global businesses to successfully navigate diverse payment preferences and operational challenges in markets around the world. For more information on EBANX and its offerings, visit their website here.