YES BANK and EBANX Announce Strategic Partnership to Empower Cross-Border Commerce in India

MUMBAI, India and CURITIBA, Brazil, May 7, 2024 — YES BANK, a number one non-public sector financial institution in India, and EBANX, a world fintech firm specialised in cost options for rising markets, introduced right this moment a strategic partnership for cost processing in India, for the worldwide digital economic system. This collaboration represents a big milestone in the digital funds panorama, aimed toward streamlining cross-border cost processing and enhancing international commerce alternatives for international retailers and Indian clients in India.

This partnership will leverage EBANX’s in depth international expertise and proficiency in cross-border funds alongside YES BANK’s digital prowess, to present international retailers with seamless entry to a collection of scalable cost options, crafted inside an revolutionary enterprise structure framework and aligned with the most recent regulatory tips.

The whole proposition is meticulously tailor-made to go well with the distinctive dynamics of the Indian market, by providing a complete vary of native cost strategies, together with Unified Payments Interface (UPI), playing cards issued throughout all domestically obtainable networks, subtle recurring cost transactions, together with mandate administration providers, thereby enabling retailers to faucet into one of many world’s most quickly increasing economies and effectively navigating its quickly rising digital funds panorama.

Mr. Ajay Rajan, Country Head – Multinational and International Business Transaction Banking, Government Banking and Knowledge Units, YES BANK, highlighted the strategic significance of this partnership, and stated, “Teaming up with EBANX completely aligns with our imaginative and prescient to provide Indian clients and international retailers a broader spectrum of digital monetary providers that help the quickly increasing international digital commerce enterprise volumes. YES BANK views this partnership as a strategic step in the direction of unlocking India’s cost acceptance capabilities for international retailers. By leveraging EBANX’s international experience and superior technological options, we’re poised to ship scalable cost options tailor-made for the Indian market, in the end fostering an surroundings conducive to digital inclusion and international commerce into India.”

Ms. Paula Bellizia, President of Global Payments, EBANX, expressed pleasure in regards to the partnership, and stated, “Our partnership with YES BANK is pioneering new pathways for international companies to seamlessly combine and thrive throughout the Indian market. By combining YES BANK’s robust digital capabilities with our experience in cross-border funds, we’re set to revolutionize the way in which worldwide retailers have interaction with Indian shoppers. Instant, various funds have this transformational energy in rising markets. Considering UPI’s path in India up to now, and the Pix phenomenon in Brazil, it’s anticipated that UPI may even impression cross-border digital commerce for good in India.”

The partnership announcement comes at a time when EBANX is actively working to reinforce its place in India, following its enlargement announcement into Asia final yr. India is the second-largest on-line purchasing market, with 350 million individuals. As projected by the final Beyond Borders examine, the world will see 109 million individuals being added to the buyer class this yr, and India alone might be chargeable for one-third of it. And but, cross-border funds throughout the digital commerce area signify solely 9% of the transactions (PCMI). This strategic partnership, combining technological innovation with regulatory compliance, is poised to create a ripple impact, benefiting not simply the 2 entities but in addition the broader ecosystem of retailers, shoppers, and the digital economic system in India and past. Through revolutionary cost options and a customer-centric method, YES BANK and EBANX are poised to prepared the ground in remodeling cross-border commerce and driving financial progress in India and past.