EBANX Solution for Shared Economy
Have a top-performing payments partner for shared economy business models in rising economies
Manage your transactions from pay-ins (receiving payments from customers) to payouts (paying your contractors or gig workers). Cover all your business payment flows and operations with EBANX's superior performance.
Trusted by global sharing economy platforms:
With a superior performance payments platform to enhance P2P connections within your shared economy business
+0.2 ppt average uplift in approval rates
based on unique user and/or order level for our global shared economy merchants in a one-year period.*
-0.5 ppt of average decrease in chargeback rates
for our global shared economy merchants in a one year period.*
*Data collected between 2021 and 2022. It may vary according to the country.
EBANX is ready to empower shared economy businesses, including: shared transportation, space, financial, food, health-care, knowledge & education, task service, items and goods, and other shared segments.
Our platform delivers maximum availability and it is equipped with superior features to optimize your contractors (producers, creators, gig-workers, etc.) end-user experiences:
Account Card Updates
Complete reconciliation - including payments, chargebacks and refunds information
Automatic recurring billing and PCI DSS compliant tokenization
Partnerships with multiple local acquirers in each country where we operate
Fast and guaranteed settlement in merchant's currency
Clear Dashboard and on-demand analytic reports
The trillion dollar global sharing economy market
Expected to reach USD 1.5 trillion in 2024
Growing at a CAGR of 31.9% for the forecast period of 2019 to 2024
Source: BCC Research - 2020
The shared economy (or gig economy) is booming worldwide, including in Latin America and Africa. The Latin American ride-hailing and food delivery market, for example, is expected to reach USD 10.2 billion by the end of 2022 and increase more than 22% compared to 2021, according to AMI.
There are, however, some challenges to increase sales and attract and retain high performance contractors. Visa conducted a survey with 2,326 gig workers from several countries in Latin America, Europe, North America, and Asia, and found that 46% of the respondents would like to get paid faster, while 77% said that there are times when they urgently needed their money. Also, 9 out of 10 respondents are likely to sign up for instant payments.
Besides the above mentioned context, EBANX is also ready to tackle other challenges faced by shared economy business models such as:
Settling funds outside the origin market
Streamlining reconciliation payments
Having detailed payment information and traceability
Automating payments management (generation, confirmation, chargeback and refunds)
Monitoring risky customers/transactions
Reducing costs with fixed FX rate (+ tax efficiency)
Decreasing operational overhead of mass payout processes
Performing and controlling micropayment confirmations
Payout contractors fast and consistently
Offering contractors' preferred payment methods and pay them in local currencies
Manage recurring payments
Automated billing and invoicing
Handling of all billing-related support queries
Ensure tools and mechanisms to reduce churn
Ensure tools and mechanisms for the best approval rates
Receive payments from customers and pay your contractors seamlessly through
Increase your revenue by receiving payments from customers with superior performance. ave access to more than 100 payment methods - including credit & debit cards, digital wallets, instant payments, cash & voucher payments, and bank transfers - in 18 countries (within Latin America and Africa) and 14 different currencies. all within a single platform with a global settlement network and local support.
Uplift your contractors, producers, gig-workers, or any suppliers' retention and satisfaction rates by paying them locally and with their preferred way in Latin America in a quick and safe way with a 94% average success rate. Relying on traditional payout systems can delay payments due to tax complexity, regulations, currency fluctuation, and other issues. Our Payout solution, however, reduces operational overhead by supporting single and mass payouts, has a streamlined payee onboarding, allows several payment methods - including bank transfers, digital wallets and instant payments, is fully compliant with all local regulations, and confirm payments in under 10 minutes (for alternative payment methods) and up to 2 business days (for bank transfers).
Subscription-based models are common among shared economy businesses. If that it is your case, our innovative platform has solutions with superior performance to grow your subscriber base and reduce consumer attrition with a unified reconciliation in 18 growing economies (in Latin America and Africa), direct connections to all card issuers, tokenization, retry logic, acquirer redundancy, smart routing, automatic card updates, and trusted MID. You can also benefit from EBANX partnership Recurly - the leading subscription management & billing platform.
Boosting conversion rates through a popular digital wallet in Latin America
A global shared transportation merchant was able to uplift its conversion rate by +7ppt with a new product/experience created in collaboration with MercadoPago Connect - a new payment option in Argentina, Uruguay and Chile. The user experience integration and operation was designed under EBANX's expertise.
Growing 600% across 6 Latin American countries within 4 years
After partnering with EBANX in 2018, a multinational shared e-learning platform grew 600%, and it is now present in 6 Latin American countries and accessing +25 local payment methods. This growth was also supported by EBANX local market expertise, by working together to enhance the experience for both creators and end users.
Local and diverse payment methods to let your customers pay and your contractors receive their funds according to their preferences
Expanding economies are highly dependent on alternative payment methods so, through EBANX, you will access more than 100 payments methods for single or recurring transactions, and several options for payouts. This way you will leverage both your customers and contractors satisfaction.
Diverse payment methods from credit (installments available) and debit cards to alternative options such as vouchers, instant payment, digital wallets, and popular local bank transfers.
International, domestic or mixed funds settlement
Local currency availability to charge customers
Multiple, single or partial refunds, wherever it is necessary, for almost every payment method
A smart anti-fraud solution to balance security with performance
Your shared economy business and users need protection when it comes to payments, especially in expanding economies where fraud risks are higher. Therefore, our payment solutions are protected by Shield, our smart ant-fraud solution with:
Machine learning for behavior score
Chargeback guarantee with low rates
Block and trust lists to avoid blocking trusted clients
Robust validation scheme with payment capture to acquirers and banks validation.
Manual Review with EBANX's Fraud Specialists to reduce false declines while preventing fraud
Flexible and convenient integrations
EBANX takes the heavy-lifting of integrations by providing developers support to our merchants so the process can be streamlined. There are different integration options to fit our merchants' business model, capabilities, strategy, and available resources.
Direct API - reverse personalized integration to generate fully transparent checkouts
Payment Link - manually generated payment links to cut the need for complex integrations
Drop-In - complete white-label and customizable checkout with no page redirection
Payment Page - practical and safe checkout page managed by EBANX
Industry Channels - over 15 EBANX partners to be integrated with, including Stripe, Worldpay, Worldline, and Recurly
World-class support to streamline your shared economy operations
Count on a world-class support and local advisory through a dedicated team of experts with reduced response time - less than 24 hours average handling time (SLA). They are also available according to your time-zone and in multiple regions (Latin America, US, Europe and APAC).
Regular planning and analytical meetings
Merchant operational support
Growth and marketing strategies
Close performance monitoring
Identification of opportunities
Roadmap for improvement