XTransfer , a B2B cross-border trade payment platform in China, has partnered EBANX , a payment platform for global companies operating LATAM, Africa, and Asia. This collaboration aims to streamline B2B trade payments in Latin America, enhancing the ability of XTransfer's clients, primarily small and medium-sized enterprises (SMEs) engaged in international trade, to efficiently navigate the region's digital economy.

Currently, many businesses and entrepreneurs in emerging markets depend on complex and time-consuming non-digital payment methods for B2B transactions. According to EBANX's annual study, Beyond Borders 2024, typical B2B payments can take up to 14 days to process, involving multiple intermediaries, resulting in low visibility and high fees. Latin America is becoming increasingly significant in the digital economy, presenting opportunities for innovation in B2B payments.

With a growing number of businesses making online purchases—64% in Brazil and 85% in Colombia, as reported by the OECD and UNCTAD—there is a substantial potential to streamline processes and enhance the efficiency of cross-border transactions. EBANX is recognized for its robust payment solutions and market expertise, positioning it to drive transformation in B2B payments in the region. Terms of the deal Under this partnership, EBANX will process payments for XTransfer in five major Latin American markets: Brazil, Chile, Colombia, Mexico, and Peru.

The platform will focus on alternative payment methods such as electronic transfers, bank transfers, e-wallets, cash-based vouchers, and the Brazilian instant payment system Pix. EBANX data indicates that over 75% of B2B transactions on its platform are conducted using alternative payment methods, aligning with regional preferences. This collaboration uses EBANX's local payment method expertise to provide XTransfer's clients with efficient payment solutions, facilitating global businesses' engagement in cross-border trade in Latin America.

The solution XTransfer, in partnership with banks such as JP Morgan, Deutsche Bank, DBS, and local payment institutions like EBANX, offers secure and user-friendly cross-border financial services to SMEs worldwide. The company has established a unified global multi-currency clearing network and an automated anti-money laundering risk control infrastructure focused on SMEs. Founded in 2017 and headquartered in Shanghai, XTransfer has branches in multiple countries and has obtained local payment licenses in various jurisdictions.

The company achieved unicorn status after completing its Series D financing in September 2021. EBANX, founded in 2012 in Brazil, connects global companies with customers in fast-growing digital markets. The platform supports numerous payment methods across Latin America, Africa, and Asia, enhancing sales and purchase experiences for businesses and customers.

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