Driven by digital commerce, consumer spending is expected to boom in Latin America, Africa, Southeast Asia, and India over the next ten years
CURITIBA, Brazil, Feb. 6, 2025 /PRNewswire/ -- The Beyond Borders 2025 study by EBANX, a global payment service provider (PSP) specializing in payments in emerging markets, provides Middle Eastern businesses with the insights needed to tap into the world's fastest-growing e-commerce markets. According to data from Payments and Commerce Market Intelligence (PCMI) in Beyond Borders, online sales volume in 20 emerging countries across Latin America, Africa, and Asia is expected to surpass USD 1 trillion by year-end.
EBANX's study shows that the estimated annual increase in digital commerce in these rising markets by 2027 will be 19%, twice the global average of 9.5%, projected by GlobalData. The research highlights key consumer trends and payment preferences, helping merchants tailor their strategies to maximize success. With EBANX's cross-border payment solutions, Middle Eastern businesses can seamlessly connect with consumers in these dynamic regions. The research can be accessed in full and for free at http://bit.ly/EBANXBeyondBorders2025.
The booming e-commerce market is one of the main factors fueling consumer spending growth in rising regions. In Southeast Asia and India, consumer spending is expected to rise by 122% over the next decade, followed by Latin America (57%) and Africa (103%), according to projections by the World Data Lab (WDL) featured in Beyond Borders. This rapid expansion, powered by young, digital-first populations and increasing internet penetration, presents lucrative opportunities for Middle Eastern businesses looking to expand internationally.
"The digital transformation and a rising middle-class consumer base in emerging economies make these regions essential players in global e-commerce," said João Del Valle, CEO and Co-founder of EBANX. "For Middle Eastern businesses, now is the time to explore these opportunities and leverage localized payment solutions to expand into emerging markets."
Payment innovations
Consumer demand for real-time, seamless, and cost-effective transactions has made UPI, mobile money, and Pix the leading alternative payment methods for online purchases in India, Kenya, and Brazil, respectively. UPI leads the overall online sales in India, with 55% of the country's market, while mobile money accounts for 48% of Kenya's total e-commerce, and Pix, for 40% of Brazil's online purchases, according to data from PCMI in Beyond Borders.
Features like Pix Automático, set to launch in mid-2025, will unlock new recurring payment use cases and accelerate adoption in Brazil's e-commerce. Beyond Borders' exclusive projections reveal that Pix Automático could generate over USD 30 billion in online recurring payments within two years of its launch, per PCMI. This is a substantial figure, considering this credit card-dominated market vertical currently handles USD 50 billion annually in Brazil. EBANX's study also predicts that the new recurring feature will account for 12% of all Pix's online transaction volume by 2027.
Pix, UPI, and mobile money are also among the fastest-growing payment methods in online sales across emerging markets, expected to accelerate by 35%, 18%, and 16% per year by 2027, in that order. Debit cards are also one of the "game changer payment methods", capturing 32% of the market across emerging economies, and still sustaining a 24% CAGR by 2027.
"Emerging markets are leading the global shift towards real-time payments, with innovations that match their populations' demands for speed and convenience," said the CEO of EBANX. "This results from an irreversible trend in the payments industry: the development of solutions completely adapted to local consumer behavior. And our report shows how this is taking place."
To read EBANX's Beyond Borders 2025 study, access http://bit.ly/EBANXBeyondBorders2025.
ABOUT EBANX
EBANX is the leading payment platform connecting global companies with customers from the fastest-growing digital markets in the world. The company was founded in 2012 in Brazil with the mission of giving people access to buy in international digital commerce. With powerful proprietary technology and infrastructure, combined with in-depth knowledge of the markets where it operates, EBANX enables global businesses to connect with hundreds of payment methods in different countries in Latin America, Africa, and Asia. EBANX goes beyond payments, increasing sales, and fostering seamless purchase experiences for businesses and clients.
For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx
Media Contact:
Shan Huang
shan.huang@ahgstrategies.com
Photo - https://mma.prnewswire.com/media/2613098/Jo_o_Del_Valle_CEO_Co_founder_EBANX.jpg
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