YES BANK & EBANX team to facilitate cross-border payments in India

By Gloria Mathias

YES Bank, a private sector bank in India, and EBANX, a global FinTech company specializing in payment solutions, have announced a strategic partnership to process payments in India for the global digital economy.

This collaboration represents a milestone in the digital payments landscape, aimed at streamlining cross-border payment processing and enhancing global commerce opportunities for global merchants and Indian customers in India.

This partnership will leverage EBANX’s extensive global experience and proficiency in cross-border payments alongside YES Bank’s digital prowess to provide global merchants with seamless access to a suite of scalable payment solutions crafted within a business architecture framework and aligned with the latest regulatory guidelines.

The entire proposition is tailored to suit the unique dynamics of the Indian market by offering a comprehensive range of local payment methods, including UPI, cards issued across all locally available networks, recurring payment transactions, and mandate management services.

Ajay Rajan, Country Head – Multinational and International Business Transaction Banking, Government Banking and Knowledge Units, YES BANK, said, “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. 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 and global trade in India.”

Paula Bellizia, President of Global Payments, EBANX, shared, “By combining YES Bank’s strong digital capabilities with our expertise in cross-border payments, we are set to revolutionize 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, it is expected that UPI will also impact cross-border digital commerce for good in India.”

Through payment solutions and a customer-centric approach, YES BANK and EBANX plan to navigate the path of transforming cross-border commerce and driving economic growth in India and beyond.