Gr4vy, a cloud-native payments company, has announced new partnerships with Boku and EBANX to quickly give merchants access to local payment methods in new geographies. These partnerships will fuel international growth and revenue while reducing risk, resource burden and the overall total cost of ownership.
Merchants can now access billions of emerging market consumers across Africa, Asia, Latin America, and the Middle East. Importantly, this comes at a time when the transaction value of digital commerce in Latin America is projected to increase 73 per cent, and payment revenue in APAC is forecasted to reach $935billion by 2025.
“Until now, merchants have had to build individual integrations for each new local payment method they wish to support in each new market they enter. At Gr4vy, we wanted to make it easy for merchants to expand their payments strategy into new markets,” said John Lunn, Founder and CEO of Gr4vy. “Bringing these new partnerships to the Gr4vy platform means merchants can now easily offer localised payment methods and services in new geographies, without writing code or the need for large developer teams.”
Through its partnership with EBANX, a payments platform that works with large global brands such as Shein, Amazon, Shopee and Uber, Gr4vy merchants now have access to one of the biggest user-bases in Latin America (an estimated 100 million customers by the end of 2022). EBANX and Gr4vy will enable merchants to increase revenue in the fast-growth region with an end-to-end local payment solution that meets local consumer payment preferences, including debit and credit cards, bank transfers, and digital wallets.
With Gr4vy’s Boku connector, merchants can access its M1ST Payments Network, consisting of 350+ local mobile payment methods, including popular app-based payments such as Alipay, WeChatPay, GrabPay, and ShopeePay, as well as ubiquitous SIM-based payments that can place charges against any mobile phone bill in the world. Merchants will be able to access customers in over 91 countries across Asia, Europe, Latin America, the Middle East and Africa.
Gr4vy’s cloud-native infrastructure platform modernises payment orchestration. The only payment orchestration platform (POP) built natively in the Cloud, Gr4vy’s platform empowers merchants to manage payment methods, services and transactions while eliminating single points of failure and shared infrastructure risks. Gr4vy can also spin up an Edge to any instance and deploy it where needed, regardless of location, to help merchants meet regional data privacy and protection regulations.