Ebanx, a Brazil-based payments company with operations in 15 countries, recently received authorization from the Banco Central de Brasil, Brazil’s central bank, to use the bank’s instant payments platform Pix. This follows Ebanx’s acquisition of a Payment Initiation Service Provider (PISP) license from the Banco Central de Brasil. These developments will allow Ebanx to simplify e-commerce systems for the 500 merchants it serves in Brazil so that their customers will be able to make purchases on the merchants’ websites and apps without needing to go to their bank’s website or app as an intermediate step.
Erika Daguani, Vice President of Product at Ebanx, said, “As a payment initiator, Ebanx can now streamline the payment process, reduce friction and increase transaction security, and the user no longer needs to leave the store’s website or app, log into a bank’s app or worry about copying and pasting the QR code and checking that everything is correct.”
Ebanx was established in 2012 and has grown to operate across Latin America and Africa as of 2023. Since its inception, the firm reportedly has processed payments totaling the equivalent of USD 1 billion for 70 million customers in Latin America.
Pix was created in 2020 by the Banco Central de Brasil to increase the efficiency of digital payments. The platform accounts for 16 percent of e-commerce sales volume in Brazil and is used by roughly 75 percent of Brazilians.
Banco Central de Brasil was established in December 1964 and controls the country’s monetary policy. Its mission is to promote the “efficiency of the national financial system,” including the stability of the purchasing power of the Brazilian real. The central bank does this by monitoring and seeking to influence macroeconomic indicators such as unemployment and inflation rates.
By Ben Barba, Research Associate
Sources and Additional Resources
Ebanx press release
https://business.ebanx.com/en/press-room/press-releases/with-ebanx-e-commerce-merchants-can-initiate-payments-via-pix-in-brazil
Ebanx homepage
https://ebanx.com/
Pix webpage
https://www.bcb.gov.br/en/financialstability/pix_en
Banco Central de Brasil homepage
https://www.bcb.gov.br
Previous MicroCapital story on Banco Central de Brasil
https://www.microcapital.org/microcapital-brief-banco-central-de-brasil-launching-instant-payment-platform-pix-for-merchant-p2p-g2p-payments/
Crowdfund Insider article on Ebanx
https://www.crowdfundinsider.com/2022/02/186835-latin-american-fintech-ebanx-has-processed-nearly-1b-transactions-across-15-nations/
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