Ebury purchases Bexs in international payments expansion


Valentina Vitali
Valentina Vitali
Research Analyst
Valentina is a Research Analyst and passionate about payments and fintech. Valentin enjoys analysing money transfer companies and the market. In her work, Valentina analyses payments data… Read more
  • Ebury, which is backed by the major financial services name Banco Santander, has said that it has purchased the smaller firm Bexs.
  • Bexs operates in the cross-border payments sector and has a wide range of strands to its business, including foreign exchange services.
  • “The acquisition by Ebury will provide access to a portfolio of potential customers across other markets,” said a senior figure at Ebury

Ebury, a provider of corporate banking services to small and medium sized firms with an international money transfer function, has announced that it has purchased the firm Bexs.

Bexs has a number of strands to its business, including Bexs Banco which offers foreign exchange services.

It also offers Bexs Pay, which is a payments provider service.

The arrangement will enable Ebury, which is backed by Banco Santander, to help smaller firms expand their money transfer needs.

It is thought that digital services in particular will benefit.

The company enables payments to take place all across the world – from one country to another.

With Bexs' technology, it will be possible for a company in one nation to sell in another through systems such as online marketplaces.

The e-commerce providers in the original country are then able to take their payment in US dollars.

Alternatively, they can accept it in a different foreign currency.

However, the firm’s technology can be applied to a wide range of different sectors and use cases including social media.

The technology can be applied there to provide income for influencers, for example.

It can also be used in environments where there is a big number of what are known in the industry as “micropayments”, or low-level payments.

Sérgio Rial, the chairman of Ebury, said that Bexs would bring fresh expertise to the company.  

“Bexs is more 'tech' than 'fin', capable of combining globally scalable solutions with in-depth expertise in currency regulation,” he said.

“The acquisition by Ebury will provide access to a portfolio of potential customers across other markets.” 

He also explained that the unusual tech features that the firm had on offer could be brought to different markets – and described some of the possibilities as “almost limitless”.

“In addition, its unique technology and business model for massive payments can be replicated in other geographies. The synergy possibilities are almost limitless,” he said.

To get more details about the world of cross-border payments, just head over to our website’s reviews section and see what you can find out. You may even find your next payments provider!

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