Apax Global Payment & Technologies Ltd. this month opened an office in Panama City to better provide card-processing services and electronic-payment products for merchants in the Latin American and Caribbean market, according to the United Kingdom-based provider of payment products. The office focuses on offering payment services to merchants selling mostly digital goods online in Latin America, says Apax. "Within the last five years we have seen a steadily increasing demand for our products, especially from online merchants of various industries. Panama and Costa Rica have become a hub for those merchants," says Peter Arnold, Apax CEO. "It is a logical step for Apax to open an office in that region," he says.