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

  • The partnership will give global merchants easier access to India’s 350 million consumers, the second-largest online shopping market in the world, which will be responsible for adding the majority of people to the consumer class in 2024.
  • YES BANK and EBANX streamline cross-border transactions for global merchants, to offer compliant payment solutions tailored for the Indian market.
  • The collaboration aims to drive digital inclusion and foster global trade.

MUMBAI, India and CURITIBA, BrazilMay 7, 2024 /PRNewswire/ — YES BANK, a leading private sector bank in India, and EBANX, a global fintech company specialized in payment solutions for emerging markets, announced today a strategic partnership for payment processing in India, for the global digital economy. This collaboration represents a significant milestone in the digital payments landscape, aimed at streamlining cross-border payment processing and enhancing global commerce opportunities for global merchants and Indian customers in India.

This partnership will leverage EBANX’s extensive global experience and proficiency in cross-border payments alongside YES BANK’s digital prowess, to provide global merchants with seamless access to a suite of scalable payment solutions, crafted within an innovative business architecture framework and aligned with the latest regulatory guidelines.

The entire proposition is meticulously tailored to suit the unique dynamics of the Indian market, by offering a comprehensive range of local payment methods, including Unified Payments Interface (UPI), cards issued across all locally available networks, sophisticated recurring payment transactions, along with mandate management services, thereby enabling merchants to tap into one of the world’s most rapidly expanding economies and efficiently navigating its rapidly growing digital payments landscape.

Mr. Ajay Rajan, Country Head – Multinational and International Business Transaction Banking, Government Banking and Knowledge Units, YES BANK, highlighted the strategic importance of this partnership, and said, “Teaming up with EBANX perfectly aligns with our vision to offer Indian customers and global merchants a broader spectrum of digital financial services that support the rapidly expanding global digital commerce business volumes. YES BANK views this partnership as a strategic step towards unlocking the India’s payment acceptance capabilities for global merchants. By leveraging EBANX’s global expertise and advanced technological solutions, we are poised to deliver scalable payment solutions tailored for the Indian market, ultimately fostering an environment conducive to digital inclusion and global trade into India.

Ms. Paula Bellizia, President of Global Payments, EBANX, expressed excitement about the partnership, and said, “Our partnership with YES BANK is pioneering new pathways for global businesses to seamlessly integrate and thrive within the Indian market. By combining YES BANK’s strong digital capabilities with our expertise in cross-border payments, we are set to revolutionize the way international merchants engage with Indian consumers. Instant, alternative payments have this transformational power in rising markets. Considering UPI’s path in India thus far, and the Pix phenomenon in Brazil, it is expected that UPI will also impact cross-border digital commerce for good in India.

The partnership announcement comes at a time when EBANX is actively working to reinforce its position in India, following its expansion announcement into Asia last year. India is the second-largest online shopping market, with 350 million people. As projected by the last Beyond Borders study, the world will see 109 million people being added to the consumer class this year, and India alone will be responsible for one-third of it. And yet, cross-border payments within the digital commerce space represent only 9% of the transactions (PCMI). This strategic partnership, combining technological innovation with regulatory compliance, is poised to create a ripple effect, benefiting not just the two entities but also the wider ecosystem of merchants, consumers, and the digital economy in India and beyond. Through innovative payment solutions and a customer-centric approach, YES BANK and EBANX are poised to lead the way in transforming cross-border commerce and driving economic growth in India and beyond.

ABOUT YES BANK

YES BANK, a full-service commercial bank headquartered in Mumbai, offers a wide array of products, services, and digital solutions, catering to Retail, MSME, and Corporate clients. The Bank operates its Brokerage business through YES SECURITIES, a wholly-owned subsidiary of the Bank. The Bank has a pan-India presence including an International Banking Unit (IBU) at GIFT City, and a Representative Office in Abu Dhabi.

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.