EBANX Unveils UPI Autopay: Revolutionizing Recurring Cross-Border Payments in India

EBANX, a prominent global technology company specializing in payment solutions for emerging markets, has recently integrated UPI Autopay into its cross-border payments platform. This strategic move is a key part of EBANX’s expansion efforts in India, in collaboration with YES BANK, one of the nation’s top private sector banks. The launch of UPI Autopay significantly enhances the ability of global merchants to engage with India’s rapidly expanding digital economy.

Significance of UPI Autopay for Global Merchants

The introduction of UPI Autopay reflects a growing demand among international merchants for recurring payment capabilities within the Indian market. With projections indicating that India could become the world’s third-largest economy by 2030, its burgeoning consumer base presents a critical opportunity for digital service providers.

EBANX’s Mission and Market Reach

Founded with a vision to connect global businesses to high-growth markets, EBANX provides tailored payment solutions for emerging economies. The company facilitates access to markets in Latin America, Africa, and Asia, including major regions such as Brazil, Colombia, and now India. Through its robust infrastructure, EBANX supports local payment methods, fostering digital commerce.

Features of UPI Autopay Integration

The newly integrated UPI Autopay functionality enables EBANX’s merchants, particularly those in sectors like SaaS, streaming, and subscription services, to offer automated recurring payments via UPI. This innovative payment method is already dominant in the Indian e-commerce sector, boasting a market share of 54%, making it an effective tool for cross-border transactions as well.

Comprehensive Payment Solutions

• UPI Autopay: Facilitates automated recurring payments.
• One-time UPI Payments: Supports single transaction payments.
• Card Transactions: Streamlines payment processes for global merchants.

The comprehensive approach of EBANX in offering flexible payment options helps businesses navigate the complex and dynamic landscape of digital payments in India.

Market Trends in Alternative Payment Methods

The addition of UPI Autopay positions EBANX as a leader in recurring payment innovation across emerging markets. The company has noted increasing interest from global clients wishing to leverage this capability, aligning with a broader trend toward alternative payment methods that incorporate features traditionally associated with credit cards.

India is not alone in this trend. Similar developments are occurring in Brazil with the upcoming launch of Pix Automático, and across Latin America, services like Mercado Pago Connect and Nequi are introducing recurring payment functionalities.

Insights from EBANX Leadership

Eduardo de Abreu, Vice President of Product at EBANX, commented, “The growth in alternative payment methods, such as UPI, isn’t a shift away from cards; it rather responds to the expansion of the whole digital market, following digital and financial inclusion of consumers. The right mix of APMs and cards is essential to grow in emerging economies like India.”

Rashmi Sapute, Country Director of India at EBANX, added, “UPI Autopay offers a groundbreaking way for global businesses to engage with the growing base of digital consumers in the country. We are proud to be at the forefront of this offering, simplifying cross-border payments and enabling our merchants to seize India’s vibrant digital economy.”

With the integration of UPI Autopay, merchants can capitalize on UPI’s strong market presence, facilitating recurring transactions and broadening access to digital commerce for a wider audience.

For more information about EBANX and its payment solutions, visit EBANX Official Site. To explore the evolving landscape of digital payments in India, check out this insightful Business Insider article.