EBANX, a global technology company specializing in payments for growing markets, announced new products and features on its payment platform with the goal of simplifying and enhancing the experience for the 29 countries in Latin America and the Caribbean, Africa, and Asia where it operates.
With its recent expansion into the markets of Africa and the Caribbean, in addition to its debut in the Asian region with the launch of operations in India, EBANX strategically positions itself to serve its merchants and these growing regions, connecting both ends through the best payment solutions.
The new products bring advanced technology that prioritizes security and high-performance payment transactions on the platform, meeting the needs of businesses seeking efficiency and security in international transactions.
“We are solving the complexity of payments within an innovative business model. These launches and our global expansion demonstrate our commitment to adapting and offering the best solutions to the markets we serve.
“EBANX is driven by the challenge of maximizing the market potential in the regions where we operate and by the commitment to delivering quality products, ensuring that our merchants can provide the best possible service to their customers,” explained Fabio Scopeta, Director of Product and Technology at EBANX.
EBANX’s fraud and risk management solution, serving merchants worldwide conducting cross-border transactions in emerging economies, now features a set of cutting-edge functions.
These include real-time transaction scoring through advanced machine learning, seamless and continuous automation of chargebacks, A/B testing to minimize false positives, and industry-specific custom enhancements such as manual review and chargeback coverage.
The performance of EBANX software demonstrates an average increase of up to five percentage points in approval rates in certain verticals, along with a reduction in chargeback rates by 0.67 percentage points.
“The solution offers the perfect balance between approval rates and fraud prevention,” assures Scopeta.
Fraud may not occur in the same way or through the same payment methods for subscription services as for online travel, SaaS transactions, or physical goods in online retail.
Therefore, EBANX’s new solution takes into account the local behavior and financial identification of buyers in each of the countries and verticals.
The anti-fraud solution has three essential layers of protection: initial analysis, anti-fraud machine, and intelligent retry.
The main innovation is in the second layer, where the solution deploys its own anti-fraud machine when cards are used, already considering the business model and vertical to which the transaction belongs.
This step scores each transaction based on more than 100 combinations of behavior, local data, and parameter cross-referencing.
It uses strict rules and machine learning to continuously categorize patterns, including new patterns of fraudulent behavior that may arise in emerging markets.
A second step in this layer, applied to both cards and alternative payments, involves routing the transaction across EBANX’s complete set of anti-fraud tools to find the best-performing one for that specific transaction and payment method.
“There is no one-size-fits-all solution against fraud and risk for all of Latin America, all of Africa, or all of Asia. Likewise, there is no one solution for all verticals. Consumer behavior must be taken into account.
“The modus operandi of fraudsters, the evolution of payment methods and financial operations throughout history, and how they apply to different industries and different currency values in each of the countries in these regions,” revealed Juliana Borges de Campos, Global Director of Payment Operations at EBANX.
“This is a constantly evolving field based on particular contexts. EBANX has the local and deep expertise needed to stay current and translate this constant evolution into better payment performance for the merchant,” added the executive.
EBANX has also enhanced its billing and payment solutions; the latter is already available in 25 markets where it operates.
The features now offer a complete experience for companies that need to receive payments from their customers but also need to make payments to their respective partners and collaborators. The solution provides the convenience of making payments in any amount and local currency.