Rising economies flock to instant alternative payments vs. cards in the world's most innovative regions for fintechs, per EBANX's annual Beyond Borders report
CURITIBA, Brazil, Dec. 7, 2022 /PRNewswire-PRWeb/ -- EBANX, a fintech company that specializes in international payments in rising markets, today released its annual Beyond Borders 2022/2023 report. This year's study – a bellwether for tracking online consumer behaviors, fintech and payments innovations, new trends, and business opportunities in emerging markets – is the first to cover 15 countries across Latin America in addition to some of the fastest-growing African countries in digital commerce. It relies on multiple trusted sources to provide meaningful insights – including internal EBANX data and fresh research and analysis from Americas Market Intelligence (AMI).
- The future of payments in these regions is decidedly alternative and instantaneous," said Paula Bellizia, President of Global Payments at EBANX.
- By 2025, this type of APM in Latin America should reach USD 121 billion in volume after growing at a 33% CAGR.
- In Africa, with a population of more than 1.3 billion people, digital, alternative payments are expected to speed up digital commerce.
- The digital-consumption acceleration in rising economies doesn't lie with credit card's growth, like we see in more mature markets."