EBANX Expanded Into Pakistan and Updated Apple Pay
The payment provider has launched in Pakistan while deploying a new in-house decryption model for Apple Pay transactions.
Updated on Sept. 24, 2026 in Financial Services
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EBANX has announced its expansion into the Pakistani market and the deployment of a native Apple Pay decryption model across Latin America. The firm is integrating local payment methods to capitalize on high demand in the region.
Why it matters
EBANX implemented in-house Apple Pay decryption to reduce merchant operational burdens and streamline transaction flows. The firm selected Pakistan for its next growth phase due to rising merchant demand and the complexity of the local digital payment market.
EBANX processes over 4 million transactions per day globally. In Pakistan, the State Bank of Pakistan reported Raast transaction volumes of 742.1 million in Q3 FY26, representing a significant increase from 371.2 million in Q3 FY25.
The players
EBANX
Founded in Brazil in 2012, this global financial services firm provides localized payment processing solutions across emerging markets.
State Bank of Pakistan
This is the central bank of Pakistan responsible for regulating the monetary and credit systems of the country.
JazzCash
This is a prominent mobile wallet service in Pakistan that reports more than 50 million registered users.
Easypaisa
This mobile financial service provider operates in Pakistan and reports a user base exceeding 50 million people.
The details
EBANX now manages Apple Pay token decryption internally by handling security keys and certificates within its own infrastructure, a move that delivered a 94.4% approval rate and a 23.5% higher average order value. The company will facilitate Pakistani operations by integrating widely used local platforms like JazzCash, Easypaisa, and Raast.
Timeline
EBANX was founded in Brazil in 2012.
Raast transaction volume reached 371.2 million in Q3 FY25.
Raast transaction volume rose to 742.1 million in Q3 FY26.
The new Apple Pay operating model was rolled out in September 2026.
Operations in Pakistan are scheduled to commence in the next semester.
Market Landscape
EBANX is positioning itself to capture significant market share as Pakistan experiences a projected 22% annual growth in e-commerce spending through 2030. This expansion intensifies the competitive environment among global payment processors targeting high-growth emerging economies.
Consumers in Pakistan may see improved transaction reliability and broader support for digital payments as EBANX integrates local platforms like JazzCash and Easypaisa. Merchants using Apple Pay will benefit from the new in-house decryption model, which aims to reduce operational burdens and increase successful transaction approvals.
The takeaway
EBANX is aggressively targeting Gen Z spending habits and e-commerce growth in emerging markets through localized payment technology. The shift toward in-house token decryption demonstrates a broader industry move to improve approval rates by reducing reliance on external infrastructure.
What happens next
EBANX is scheduled to officially commence its operations in Pakistan during the next semester.
Further reading
For more on the latest trends in global payments, visit our Financial Services section.
More information
Read more about the company and its global payment infrastructure on the EBANX corporate website.
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