LatAm List – Ebanx, a Brazilian payment processing platform, has recently announced the launch of a new digital card for customers.
The platform allows big businesses such as Airbnb and Spotify to process online payments from customers; Ebanx has also recently expanded services to Brazilian e-commerce platforms.
The fintech is expanding its products with a new payment card that will give clients rebates of up to 5% for their purchases. Ebanx reports that 10,000 cards have been released to clients this week on a test basis.
Ebanx is one of the most recent Brazilian fintechs to reach unicorn status following an investment from FTV Capital in 2018 and is now looking to expand operations into other Latin American countries.
Digital payment options and neobanks are continuing to challenge traditional banking in Brazil with over 100 companies now offering digital wallet accounts in Brazil.
Read more on Reuters.