MercoPress. South Atlantic News Agency

Brazilian payments startup Ebanx expands operations to Uruguay

Ebanx focuses mainly on processing local payments from clients of global websites like Alibaba Group Holdings’ AliExpress retail service, homesharing site Airbnb

Payments startup Ebanx, one of Brazil’s latest fintech to achieve “unicorn” status, has expanded its operations to Uruguay, announced. Founded in 2012, Ebanx focuses mainly on processing local payments from clients of global websites like Alibaba Group Holdings’ AliExpress retail service, home-sharing site Airbnb, and music-streaming service Spotify Technology.

Ebanx’s latest move expands its operations to nine countries in Latin America - Mexico, Colombia, Argentina, Chile, Peru, Bolivia, Ecuador and Uruguay, besides its home country, Brazil.

The company said in a statement that it will process domestic debit and credit card payments in Uruguay.

João Del Valle, co-founder and chief operations officer of Ebanx, said the company was attracted by Uruguay’s mature digital commerce market and high financial inclusion