TL;DR
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Following five country launches earlier this year, EBANX prepares operations in Pakistan
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Local wallets and instant-payment rail integrations to be rolled out
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The company is also launching native Apple Pay decryption across Latin America
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EBANX, a global technology company specialising in payment services for emerging markets, has unveiled a new wave of product launches and geographic roadmap expansions, doubling down on its drive to solve payment complexity and unlock merchant growth.
Among the new offerings announced at its annual Payments Summit, the company added Pakistan to its operations portfolio for the first half of 2027, and a native decryption architecture for Apple Pay across Latin America and the Caribbean.
The Summit, now in its ninth year, wrapped its APAC chapter in South Korea earlier this month and is running its global edition in Costa Rica until Friday 25 September.
“Solving complexity is the very core of what we do. Our expertise is transforming operational challenges into scalable growth for our merchants,” explains João Del Valle, CEO and Co-founder of EBANX. “This is the underlying logic behind our moves, whether expanding into a new market or delivering advanced technological architecture.”
Pakistan: mobile-first and double-digit growth
Following the addition of Thailand, Indonesia, Malaysia, Vietnam and Türkiye to its footprint in 2026, EBANX is preparing its payment operations in Pakistan for the first half of 2027. The first alternative payment methods (APMs) to be offered are the local wallets JazzCash and Easypaisa, each reporting more than 50 million users.
Next will be Raast, Pakistan’s rapidly growing national instant-payment rail. Data from the State Bank of Pakistan shows that Raast transaction volume nearly doubled in a year, going from 371.2 million in Q3 FY25 to 742.1 million in Q3 FY26.
EBANX selected the country as its next frontier due to strong merchant demand and structural market complexity. According to World Data Lab (WDL) data analysed by EBANX, Pakistan’s e-commerce spending is projected to grow at an average rate of 22% annually (2026-2030).
With this high CAGR, the country is on track to more than triple its online market size over the decade. Pakistani Gen Z (ages 15–30 in 2026), especially, is experiencing a massive digital boom. Their spending on video gaming, streaming and social media is projected to grow at 17% annually to 2036—but credit card ownership among this cohort is below 10%.
“Pakistan is a classic mobile-first market where smartphone ownership runs 20 to 40 percentage points ahead of card ownership. This makes local account-based payment methods, bank transfers, and digital wallets the key to winning market share,” says Eduardo de Abreu, CPO of EBANX and regional CEO of EBANX Singapore. “This payment fragmentation is challenging for global businesses, but bridging local payment infrastructure with global merchant needs is precisely what we have specialised in for over a decade.”
Since its founding in Brazil in 2012, out of the necessity of global brands to connect with consumers and businesses through the Brazilian bank slip Boleto, EBANX has gone global, offering 400+ rails, 200+ payment methods, and processing over 4 million transactions per day.
Apple Pay decrypted in-house, so you don’t have to
Starting in September, EBANX is also rolling out a new operating model for Apple Pay that shifts the entire token decryption layer in-house. Under this setup, EBANX receives and decrypts encrypted Apple Pay tokens directly, managing certificates, security keys, and end-to-end PCI DSS compliance within its own infrastructure rather than requiring merchants to handle decryption.
“The result is less burden for merchants and faster, safer, more seamless transaction flows, with EBANX owning the full end-to-end cardholder journey inside our acquiring stack,” says Abreu.
Apple Pay is a tokenised digital wallet that uses a debit or credit card as the underlying payment credential. With this new offering, EBANX – the only PSP with local acquiring across all 11 Latin American and Caribbean markets where Apple Pay operates – simplifies merchants’ operations whilst maintaining full end-to-end PCI DSS compliance within its acquiring infrastructure.
Early production data underscores the model’s performance impact: tokenised wallet processing delivered an 11-percentage-point uplift in approval rates compared to non-tokenised card transactions, reaching 94.4%. Average Order Value (AOV) ran 23.5% higher than standard card purchases, reflecting strong alignment with high-intent digital consumers.
“We have already built a successful partnership with Apple Pay in Brazil. Now, we are taking the most sophisticated version of that architecture across Latin America, from Guatemala to Argentina, for both one-time and recurring transactions,” adds Del Valle.
According to Payment and Commerce Market Intelligence (PCMI) data sourced by EBANX, tokenised wallets already represent approximately 25% of e-commerce card volume in Brazil, 20% in Chile, 16% in Mexico, 15% in Colombia, 13% in Argentina, and 9% in Peru.
Image: PxHere
