EBANX advances emerging market infrastructure with Pakistan expansion in motion and native Apple Pay decryption

Following five country launches earlier this year, EBANX prepares operations in Pakistan with local wallets and instant-payment rail integrations, while launching native Apple Pay decryption across Latin America

SINGAPORE, Sept. 24, 2026 /PRNewswire/ -- At its annual Payments Summit, EBANX, a global technology company specializing in payment services for emerging markets, unveiled a new wave of product launches and geographic roadmap expansions, doubling down on its drive to solve payment complexity and unlock merchant growth. Among the new offerings, the company added Pakistan to its operations portfolio for the next semester, and a native decryption architecture for Apple Pay across Latin America and the Caribbean.

The Summit, now in its ninth year, wrapped its APAC chapter in South Korea earlier this month and is running its global edition in Costa Rica through Friday, the 25th.  

"Solving complexity is the very core of what we do. Our expertise is transforming operational challenges into scalable growth for our merchants," said João Del Valle, CEO and Co-founder of EBANX. "This is the underlying logic behind our moves, whether expanding into a new market or delivering advanced technological architecture."

Mobile-first and a double-digit growth opportunity in Pakistan

Following the addition of Thailand, Indonesia, Malaysia, Vietnam, and Türkiye to its footprint in 2026, EBANX is preparing its payment operations in Pakistan for the next semester. The first alternative payment methods (APMs) to be offered are the local wallets JazzCash and Easypaisa, each reporting more than 50 million users. Next will be Raast, Pakistan's rapidly growing national instant-payment rail. Data from the State Bank of Pakistan shows that Raast transaction volume nearly doubled in a year, going from 371.2 million in Q3 FY25 to 742.1 million in Q3 FY26.

EBANX selected the country as its next frontier due to strong merchant demand and structural market complexity. According to World Data Lab (WDL) data analyzed by EBANX, Pakistan's e-commerce spending is projected to grow at an average rate of 22% annually (2026-2030). 

With this high CAGR, the country is on track to more than triple its online market size over the decade. Pakistani Gen Z (ages 15–30 in 2026), especially, is experiencing a massive digital boom. Their spending on Video Gaming, Streaming, and Social Media is projected to grow at 17% annually through 2036—but credit card ownership among this cohort is below 10%.

"Pakistan is a classic mobile-first market where smartphone ownership runs 20 to 40 percentage points ahead of card ownership. This makes local account-based payment methods, bank transfers, and digital wallets the key to winning market share," said Eduardo de Abreu, CPO of EBANX and regional CEO of EBANX Singapore. "This payment fragmentation is challenging for global businesses, but bridging local payment infrastructure with global merchant needs is precisely what we have specialized in for over a decade."

Since its founding in Brazil in 2012, out of the necessity of global brands to connect with consumers and businesses through the Brazilian bank slip Boleto, EBANX has gone global, offering 400+ rails, 200+ payment methods, and processing over 4 million transactions per day. 

Apple Pay: EBANX decrypts in-house, so merchants don't have to

Starting in September, EBANX is rolling out a new operating model for Apple Pay that shifts the entire token decryption layer in-house. Under this setup, EBANX receives and decrypts encrypted Apple Pay tokens directly, managing certificates, security keys, and end-to-end PCI DSS compliance within its own infrastructure rather than requiring merchants to handle decryption.

"The result is less burden for merchants and faster, safer, more seamless transaction flows, with EBANX owning the full end-to-end cardholder journey inside our acquiring stack," explained Abreu. 

Apple Pay is a tokenized digital wallet that uses a debit or credit card as the underlying payment credential. With this new offering, EBANX—the only PSP with local acquiring across all 11 Latin American and Caribbean markets where Apple Pay operates—simplifies merchants' operations while maintaining full end-to-end PCI DSS compliance within its acquiring infrastructure. 

Early production data underscores the model's performance impact: tokenized wallet processing delivered an 11-percentage-point uplift in approval rates compared to non-tokenized card transactions, reaching 94.4%. Average Order Value (AOV) ran 23.5% higher than standard card purchases, reflecting strong alignment with high-intent digital consumers. 

"We have already built a successful partnership with Apple Pay in Brazil. Now, we are taking the most sophisticated version of that architecture across Latin America, from Guatemala to Argentina, for both one-time and recurring transactions," said Del Valle. 

According to Payment and Commerce Market Intelligence (PCMI) data sourced by EBANX, tokenized wallets already represent approximately 25% of e-commerce card volume in Brazil, 20% in Chile, 16% in Mexico, 15% in Colombia, 13% in Argentina, and 9% in Peru.

Payments Summit

Hosted by EBANX, the Payments Summit brings together global leaders across payments and digital commerce to examine high-growth emerging markets. Grounded in real-world merchant case studies, market intelligence, and executive discussions, the forum spotlights the structural trends shaping digital economies across Latin America, Africa, and Asia. In 2026, the program featured an APAC edition in Jeju Island, South Korea, in partnership with Mastercard, alongside a Global edition in Guanacaste, Costa Rica, in partnership with Citi.

ABOUT EBANX

EBANX is the leading technology platform connecting global businesses to the world's fastest-growing digital markets. Founded in 2012 in Brazil, EBANX was built with a mission to expand access to international digital commerce. Leveraging proprietary technology, deep market expertise, and robust infrastructure, the platform enables global businesses to offer hundreds of local payment methods and streamline cross-border payments across Latin America, Africa, and Asia. With a global footprint, it established a technology and regulatory headquarters in Singapore in 2026. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and end users alike.

For further information, please visit:
Website: https://ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx

Media Contact: 
Shan Huang | AHG Strategies
shan.huang@ahgstrategies.com
www.ahgstrategies.com

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EBANX advances emerging market infrastructure with Pakistan expansion in motion and native Apple Pay decryption

• 104 IPF patients enrolled in US and South Korea as global Phase 2 trial progresses toward completion
• Study includes both antifibrotic-treated and untreated patients; top-line data expected in H1 2027
• First-in-class PRS inhibitor being developed as a potential new therapeutic option for IPF

BARCELONA, Spain and SEOUL, South Korea, Sept. 24, 2026 /PRNewswire/ -- Daewoong Pharmaceutical (Co-CEOs Seongsoo Park and Changjae Lee) announced that it presented a poster on the baseline characteristics of all 104 patients enrolled in the global Phase 2 clinical trial of its idiopathic pulmonary fibrosis (IPF) drug candidate 'Bersiporocin (DWN12088)' at the European Respiratory Society (ERS) Congress 2026, held on September 6 (local time) in Barcelona, Spain.

Idiopathic Pulmonary Fibrosis is a disease in which various inflammatory and fibrotic signals interact, leading to excessive production and accumulation of collagen. Bersiporocin, being developed by Daewoong Pharmaceutical, selectively inhibits prolyl-tRNA synthetase (PRS), thereby reducing excessive collagen production associated with fibrosis.

Bersiporocin has a differentiated mechanism of action that targets collagen synthesis downstream of multiple profibrotic signals through PRS inhibition. Based on this distinct mechanism, it is being evaluated both in patients receiving background antifibrotic therapy and in those not receiving such treatment.

This presentation analyzed the baseline clinical and functional characteristics of all IPF patients recruited in South Korea and the United States. Following the presentation of interim enrollment data at KATRDIC 2025, Daewoong Pharmaceutical presented baseline data from the fully enrolled study population for the first time at ERS 2026.

The analysis showed that of the total 104 patients, 55 (52.9%) were from South Korea and 49 (47.1%) from the US. A total of 71 patients (68.3%) were receiving background antifibrotic therapy, while 33 patients (31.7%) were not. Mean forced vital capacity (FVC) was approximately 77% predicted, while mean diffusing capacity of the lungs for carbon monoxide (DLCO) was approximately 51% predicted. Overall, baseline clinical and functional characteristics were generally similar between patients with and without background antifibrotic therapy.

The ongoing global Phase 2 study is a randomized, double-blind, placebo-controlled trial taking place in South Korea and the US. Patients receive either Bersiporocin or a placebo twice daily for 24 weeks, with concomitant use of pirfenidone or nintedanib permitted. The study design reflects real-world IPF treatment settings by including patients both with and without background antifibrotic therapy.

This baseline analysis provides important context for interpreting the Phase 2 efficacy and safety results. Daewoong Pharmaceutical plans to announce top-line Phase 2 results in the first half of 2027.

Meanwhile, Bersiporocin has received Orphan Drug Designation and Fast Track status from the US FDA, as well as Orphan Drug Designation from the European Medicines Agency (EMA), driving its global development forward.

Professor Moo Suk Park of the Department of Pulmonology at Severance Hospital, who participated in the study, said, "This study provides a comprehensive overview of the baseline characteristics of 104 IPF patients enrolled in South Korea and the US. As the study includes patients both with and without background antifibrotic therapy, these baseline data will provide important context for interpreting the efficacy and safety outcomes of Bersiporocin."

Seongsoo Park, CEO of Daewoong Pharmaceutical, stated, "Successfully completing enrollment for the global Phase 2 trial and sharing the full baseline patient profile at ERS 2026 marks a significant milestone in Bersiporocin's development. We will continue to advance the program toward top-line Phase 2 results in H1 2027 and use these findings to inform subsequent global development."

[Reference]

https://drive.google.com/file/d/1XSXImvc5mcgdoSozP_B4BnDlsTW7Pfz_/view 
Link to the poster: 'Baseline Clinical and Functional Spectrum of Idiopathic Pulmonary Fibrosis Patients in a Fully Enrolled Global Phase 2 Trial of the PRS Inhibitor Bersiporocin'

 

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Daewoong Pharmaceutical Presents Baseline Characteristics of 104 Patients in Global Phase 2 Trial for IPF Drug Candidate 'Bersiporocin' at ERS 2026