Updated February 26, 2019 05:25:54The term Afex is a brand name used to describe the payments systems that have been developed by a consortium of banks and payments companies for use by online retailers and online merchants.

The term is used to refer to a payment system that allows payments to be processed without having to access an intermediary.

Afex payments systems are currently used by more than 100 online retailers in India and are widely adopted in countries such as Brazil, Argentina, Indonesia, Malaysia, Mexico, Nigeria and Peru.