For Australian companies, the world’s fastest-growing digital opportunities are not only in the obvious places. Brazil and Mexico are often the first stops in Latin America, and South Africa tends to dominate the conversation in Africa.

But beyond these giants, there is a wave of non-obvious markets. In countries like Colombia, Peru, Chile, and Egypt, where consumer spending is climbing at double-digit rates, local payment schemes are rewriting the rules, and Australian innovators have a real chance to lead. 

At EBANX, we aim to give global companies a practical roadmap to thrive in emerging markets. One lesson stands out: success depends not only on where you go, but also on how you let people pay.

Latin America: The non-obvious markets

Consider Colombia, Peru, and Chile. These markets have a combined population of more than 100 million people, and each is shaping its own distinct path in digital commerce.

In Colombia, where the e-commerce market has experienced double-digit growth since 2019, the story is mobile-first and wallet-led. Nequi, the mobile platform by Bancolombia, is used by 3 out of 5 adults (21 million people), particularly among the underbanked and entrepreneurs.

According to data from Statista featured in EBANX’s study Beyond Borders 2025, nearly half of mobile payment users in Colombia don’t own a credit card, highlighting how wallets and account-based transfers are driving financial inclusion.

Global merchants are already seeing results, reporting 33% month-over-month growth in transaction volume via Nequi. Debit cards still matter, but wallets are quickly becoming the dominant way to pay.

Later this month, on September 22, Colombia will launch Bre-B, the instant method that promises to include millions of consumers in the global e-commerce market.

Peru, where the e-commerce market is expected to reach USD 60 billion by 2027, after growing 20% per year, according to data from Payments and Commerce Market Intelligence (PCMI) in Beyond Borders, offers a different mix, blending a strong cash culture with rapid mobile adoption.

Traditional vouchers like PagoEfectivo remain central, but digital wallets, especially Yape by Banco de Crédito del Perú, are now household names.

Trust, simplicity, and QR codes are fueling their rise, and merchants that combine both cash and real-time digital payments are best positioned to capture Peru’s diverse base of online buyers.

Chile, meanwhile, is still card-heavy but evolving. Around 60% of online payments are made with cards, mostly via local rails like Transbank, per PCMI.

Yet shifts are underway: instant transfers and account-based payments are gaining traction, particularly among younger consumers and in verticals like gaming.

For global merchants, supporting local cards remains essential, but preparing for the gradual rise of alternative payment methods is key to staying ahead.

One Australian company that has done this well is Canva. The design platform has grown from a household name in Australia into a global creative engine.

In Latin America, Canva partnered with EBANX to adapt its payment strategy to 11 different markets, including Brazil, Mexico, Colombia, Chile, and Peru, offering the exact local methods consumers prefer.

These solutions include digital wallets, instant payments, as well as credit and debit cards, covering installments and cards from national brands.

Africa: key domestic payment systems leading the way

If Latin America’s story is about diversity across countries, Africa’s is about the rise of key domestic payment systems that now complement global networks.

Nigeria’s Verve, the continent’s largest domestic card scheme, processes millions of transactions every day and is expanding its reach regionally.

In Kenya, M-PESA has become the backbone of the country’s digital economy, enabling everything from P2P transfers to merchant payments and even microloans, with over 50 million active users.

For merchants entering these markets, partnering with key domestic payment systems like Verve and M-PESA is not optional but essential. They unlock immediate scale, local trust, and the infrastructure needed to convert the first transaction into repeat business.

With Africa set to add more people to the consumer class this decade than any region outside Asia, tapping into these key domestic payment systems today means building a foundation for tomorrow’s growth.

These trends in Latin America and Africa were at the center of discussions during the APAC chapter of the EBANX Payments Summit, held in Macao from August 28–30.

The event brought together digital economy leaders from across the APAC region to explore how local payment strategies are powering growth in emerging markets. The Summit now moves to Mexico City, continuing the conversation on how global businesses can scale through the power of local payments.

Lessons for Australian businesses

Australian innovators, from SaaS to gaming to digital retail, are uniquely positioned to seize these opportunities. Our market size at home pushes us to think global from day one, but sustainable expansion means learning to play local abroad. The key lessons from Latin America and Africa are clear:

• Go beyond the obvious. The biggest markets draw the headlines, but the next billion dollars in revenue may come from the next tier down.
  
  
• Lead with payments. Conversion, access, and loyalty in emerging markets hinge on offering the right mix of methods, whether it’s Nequi in Colombia, Yape in Peru, Verve in Nigeria, or Fawry in Egypt.
  
  
• Find the right partners. Local expertise makes the difference between a stalled launch and sustained growth.

At EBANX, we see these trends unfolding daily as we connect global merchants to over 20 emerging markets across Latin America, Africa, and Asia.

And what excites me most is the role Australian companies can play, not as followers, but as pioneers, in building the next chapter of global digital commerce.

The story is bigger than Brazil or South Africa. It is about unlocking opportunity in places the competition has not yet looked, and doing so by meeting people exactly where they are: at the checkout, with the payment method they already trust.