EBANX enables Mexican consumers to purchase Weverse products using a local payment method, marking a key step in the growth of K-pop in Latin America
SEOUL, South Korea and CURITIBA, Brazil, April 15, 2025 /PRNewswire/ — Weverse, the global superfan platform under HYBE, is expanding into Latin America for the first time, partnering with EBANX, a global fintech specializing in payments for emerging markets, to offer seamless local payment solutions. Starting in Mexico, fans are now able to purchase official merchandise, watch video on demand (VOD) content, and even send direct messages (DMs) to their favorite artists via Weverse using OXXO Pay, a widely adopted alternative payment method (APM) in the country.
The partnership arrives as Latin America’s passion for K-pop reaches new heights amid Hallyu, or the “Korean Wave,” the global spread of South Korean culture. According to a report from South Korea’s government, K-pop dominated the largest share (34.9%) of Hallyu content in Latin America. In Mexico, the cumulative number of on-demand audio and video streams of K-pop reached 3.5 billion after a staggering growth of 25% in 2023, according to Luminate, a data analytics and insights company.
Local payments unlock global fandom
APMs like OXXO Pay are crucial for consumer accessibility in emerging countries, where only 30% of people use credit or debit cards, according to data from the World Bank Global Findex in EBANX’s study Beyond Borders 2025. For comparison, this rate rises to 85% in high-income markets, with South Korea at 90%. In Mexico, only 26% of people use credit and debit cards, and cash remains the preferred method for 80% of the population, as stated in a study by Banco de México.
For the first time, with EBANX’s integration, K-pop fans in Mexico can access a seamless fan experience on Weverse by purchasing merchandise, exclusive VOD content, and many more, even without a bank account or access to credit, by using OXXO Pay. According to the World Bank database, around half of Mexico’s population is unbanked, and only one in ten consumers has a credit card in the country. Through OXXO Pay, consumers can complete online purchases in cash at OXXO’s convenience stores, a popular local chain.
Weverse’s strategic entry into Latin America
“This partnership marks a milestone for K-pop’s expansion into Latin America and a strategic step for EBANX in the South Korean market,” said Sean Yu, VP of Merchant Success, APAC at EBANX. “We are looking forward to collaborating with Weverse, enabling local payments, and connecting Mexican fans in a seamless and culturally relevant way.“
Recognizing Latin America as a key driver of K-pop’s global growth, HYBE, a global entertainment lifestyle platform company and the home to some of the most iconic K-pop groups, including BTS and SEVENTEEN, ventured into the region by launching HYBE LATIN AMERICA in 2023. “Latin American fans are incredibly passionate about K-pop, and our partnership with EBANX ensures they can access exclusive content and merchandise without payment friction,” noted Joon Choi, President of Weverse.
Future growth potential
According to a study from the International Federation of the Phonographic Industry (IFPI) released last month, Latin America saw a remarkable 22.5% increase in music revenues in 2024, marking the region’s 15th consecutive year of growth. Streaming remained the primary driver, accounting for 87.8% of recorded music revenues. Brazil led the way with a 21.7% rise, making it the fastest-growing market among the global top ten. Meanwhile, Mexico recorded a 15.6% revenue increase, climbing to become the world’s tenth-largest recorded music market.
The partnership between Weverse and EBANX lays the groundwork for broader expansion across Latin America, where K-pop fandoms are rapidly growing. With EBANX’s expertise in local payment ecosystems, including market-specific solutions tailored to regional preferences, Weverse is poised to replicate its success and further strengthen its presence in this high-potential market.
ABOUT WEVERSE
Weverse Company is a global superfan platform whose vision is to innovate the platform business through the expansion of customer experience. In June 2019, Weverse and commerce platform Weverse Shop were launched. Weverse provides content and services optimized for fan activities along with the function of a communication channel between artists and fans. Weverse Shop offers artists’ official merchandise to customers around the world. Weverse is currently operating over 160 communities for K-pop icons such as BTS, SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, NewJeans, BOYNEXTDOOR, TWS, ILLIT, NCT DREAM, NCT WISH, RIIZE, BABYMONSTER, P1Harmony, as well as global artists such as Ariana Grande, Megan Thee Stallion, Dua Lipa, the Kid Laroi, Conan Gray, and Gracie Abrams, reaffirming the platform’s position as the “ultimate global superfan platform”. HYBE (formerly Big Hit Entertainment), the parent company of Weverse Company, has been chosen as one of “The World’s 50 most innovative companies” in 2022 and 2020 by Fast Company, which also highlighted Weverse and Weverse Shop as platforms to lead the establishment of one-stop service within the music industry.
For further information, please visit:
Website: https://weverse.io/
ABOUT EBANX
EBANX is the leading payment 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, EBANX enables global companies to offer hundreds of local payment methods across Latin America, Africa, and Asia. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and consumers alike.
For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx
Media Contact:
Shan Huang
shan.huang@ahgstrategies.com
