YES BANK and EBANX announced a strategic partnership for payment processing in India, for the global digital economy. This collaboration represents a significant milestone in the digital payments landscape, aimed at streamlining cross-border payment processing and enhancing global commerce opportunities for global merchants and Indian customers in India. This partnership will leverage EBANX's extensive global experience and proficiency in cross-border payments alongside YES BANK's digital prowess, to provide global merchants with seamless access to a suite of scalable payment solutions, crafted within an innovative business architecture framework and aligned with the latest regulatory guidelines.

The entire proposition is meticulously tailored to suit the unique dynamics of the Indian market, by offering a comprehensive range of local payment methods, including Unified Payments Interface (UPI), cards issued across all locally available networks, sophisticated recurring payment transactions, along with mandate management services, thereby enabling merchants to tap into one of the world's most rapidly expanding economies and efficiently navigating its rapidly growing digital payments landscape. The partnership announcement comes at a time when EBANX is actively working to reinforce its position in India, following its expansion announcement into Asia last year. India is the second-largest online shopping market, with 350 million people.

As projected by the last Beyond Borders study, the world will see 109 million people being added to the consumer class this year, and India alone will be responsible for one-third of it. And yet, cross-border payments within the digital commerce space represent only 9% of the transactions (PCMI). This strategic partnership, combining technological innovation with regulatory compliance, is poised to create a ripple effect, benefiting not just the two entities but also the wider ecosystem of merchants, consumers, and the digital economy in India and beyond.

Through innovative payment solutions and a customer-centric approach, YES BANK and EBANX are poised to lead the way in transforming cross-border commerce and driving economic growth in India and beyond.