EBANX And Zuora Partner to Enhance Payment Solutions in Latin America And Africa
Global payments technology firm EBANX has announced a strategic alliance with Zuora, a leading monetization platform for contemporary businesses. This partnership is set to enhance the payment experience for Zuora’s clients in Latin America, South Africa, and Nigeria, fostering their global growth.
Through this collaboration, EBANX will integrate its payment solutions into Zuora’s platform, boosting local payment method acceptance in 13 Latin American countries and two African nations. This initiative aims to support subscription-based and recurring revenue businesses in these regions.
As reported by Payments and Commerce Market Intelligence (PCMI), the digital services market in Latin America is anticipated to grow by 30% annually, reaching $271 billion by 2026. In Africa, the Software as a Service (SaaS) sector is expected to be the fastest-growing segment in digital commerce, with a compound annual growth rate (CAGR) of 25% by 2026, outpacing the global average according to the Beyond Borders study. The EBANX-Zuora partnership will enable digital businesses, particularly those in the SaaS sector or those with recurring revenue streams, to harness this growth potential.
The collaboration targets key markets including Brazil, Mexico, Colombia, Chile, Peru, Argentina, Uruguay, Paraguay, Costa Rica, the Dominican Republic, Guatemala, El Salvador, Panama, South Africa, and Nigeria. It will facilitate payments through various methods, such as credit and debit cards—including those not enabled for cross-border transactions—and Pix payments in Brazil.
This partnership represents a significant advancement in supporting the global expansion of digital businesses, providing a seamless and efficient payment solution tailored to the needs of emerging markets in Latin America and Africa.
Speaking on the parnership, Gregory Cornwell, VP of Global Channels & Business Development at EBANX said,
“Latin America holds opportunities beyond traditional powerhouses such as Brazil and Mexico for global digital companies. And Africa is at its prime time to undergo a digital commerce acceleration. We are happy to partner with Zuora and make our technology and solutions available for their merchant base. And beyond that, to work together in helping connect these players to the immense potential of LatAm’s and Africa’s digital markets.”
Also speaking, John Phillips, SVP of Global Alliances at Zuora said,
“Our partnership with EBANX underscores our dedication to supporting global businesses with the most advanced and comprehensive monetization solutions. Having a local partner like EBANX is crucial to streamline market entry and accelerate growth in Latin America and Africa. By integrating EBANX’s capabilities, we can help our customers access essential payment methods to succeed in these regions.”
Source: IBS Intelligence
