YES BANK, a private sector bank in India, is partnering with EBANX, a global fintech firm providing payment solutions for emerging markets, to offer a suite of scalable payment solutions to merchants.
By collaborating with EBANX, YES BANK hopes to streamline cross-border payment processing and enhance global commerce opportunities for global merchants and customers across India.
This partnership will leverage EBANX’s global experience in cross-border payments alongside YES BANK’s technical ability to offer global merchants seamless access to a suite of scalable payment solutions, crafted within a business architecture framework, as well as aligned with the latest regulatory guidelines.
Ajay Rajan, country head, government, MNC and international business, transaction banking and knowledge units at YES BANK, discussed the importance of this partnership: “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 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, as well as global trade into India.”
Supporting global business expansion into India
YES BANK explained that it has tailored the proposition 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.
It also hopes to enable merchants to tap into one of the world’s most rapidly expanding economies and efficiently navigate its rapidly growing digital payments landscape.
Paula Bellizia, President of Global Payments, EBANX, also commented: “Our partnership with YES BANK is pioneering new pathways for global businesses to seamlessly integrate and thrive within the Indian market.
“Combining YES BANK’s strong digital capabilities with our expertise in cross-border payments, enables us to revolutionise 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, we expect that UPI will also impact cross-border digital commerce for good in India.”
