Success Case Study: Expanding to Colombia with EBANX
A Strategic Expansion into Colombia
In late 2020, an e-learning provider partnered with EBANX to enter Mexico and Uruguay. This move set the stage for impressive growth. Expanding into Brazil and Colombia, the merchant saw a significant boost in Total Payment Volume (TPV).
Discover how Colombia became a pivotal market in their success story!
Colombia: A Strategic Game-Changer
The merchant's journey with EBANX started in Mexico and Uruguay in late 2020, setting the stage for rapid expansion. In 2021, they entered the Brazilian market, doubling their TPV from Q2 to Q3. This success demonstrated the potential for further growth in Latin America.
In Q4 2021, the merchant made a strategic move to expand into Colombia. The impact was immediate and profound:
Q4 2021: Colombia contributed 38% of the TPV increase from Q3 to Q4.
Sustained Growth: By 2023, Colombia consistently accounted for 10% to 12% of the merchant's total TPV.
Colombia's role in the merchant's expansion underscores its long-term viability and growth potential within the Latin American market.
Comparative Performance and TPV Growth
Since the expansion to Colombia, the merchant has seen exponential growth:
2021-2023: The overall TPV across all markets increased fivefold.
Colombia's Contribution: Colombia was responsible for 10% of the additional TPV achieved during this period.
These metrics highlight Colombia's strategic importance and the effectiveness of leveraging EBANX's comprehensive payment solutions to facilitate seamless market entry and growth.
EBANX: Enabling Success in Colombia
The success in Colombia was significantly bolstered by EBANX's tailored payment solutions and market expertise:
Comprehensive Payment Portfolio: Offering diverse payment options that cater to Colombian consumers.
Superior Approval Rates: Ensuring higher transaction approvals through local insights and connections.
Deep Local Connections: Facilitating smoother operations and quicker market penetration with established relationships.
Unlock New Opportunities in Colombia
The impressive growth achieved by our client in Colombia underscores the market's untapped potential. For businesses already operating in Brazil and Mexico, expanding to Colombia offers a unique opportunity to drive significant growth.
Leverage our local expertise, comprehensive payment solutions, and superior approval rates to replicate this success and unlock your growth potential in Colombia.