Fully integrated local-payments infrastructure enables businesses locally and around the world to easily connect to or expand in the Brazilian market by accepting and disbursing any local payment type with one simple integration
São Paulo and London, 9 March 2020 – Rapyd, a global Fintech as a Service company, announced today that it has partnered with major Brazilian payment providers, including Dock, a banking as a service technology company, Banco Rendimento, and other local partners to support cash, bank transfers, ewallets, bill payments, debit and credit card transactions and issuing in Brazil through a single integration. Local and global businesses can now leverage Rapyd’s all-in-one solution to quickly offer the expanding variety of local payment methods without having to build complex infrastructure.
Brazil is the largest economy in Latin America and represents a tremendous opportunity for cross-border and local ecommerce growth. Over 60% of the population shops online1 and 44% transacts cross-border2. However, the majority of cards issued in Brazil are unable to make cross-border purchases and nearly 55 million Brazilians don’t have a bank account at all3. These factors are driving strong demand for ewallets, cash, and other alternative payment methods. Rapyd seeks to meet this demand by providing businesses with a single source for all the payment options consumers prefer through the Rapyd Global Payments Network.
Arik Shtilman, CEO of Rapyd, stated “We believe Brazil is a high-growth market with substantial opportunities to provide comprehensive payment services, including acceptance, disbursement, and issuing capabilities that support a variety of use cases in e-commerce, gig economy, digital goods, fintech, and B2B markets. Our full-stack Fintech as a Service offering provides both domestic and international companies that are doing business in Brazil with a way to reach out to a much larger pool of customers who are using alternative local payment methods.” Rapyd is considered a Payment Institution in Brazil and has local employees to assist domestic and international clients with collection and disbursement capabilities. Rapyd also gives companies access to white-label ewallets and local card issuing.
Through Rapyd’s full-stack offering the company seeks to support Brazil’s fintech and commerce ecosystem for both in-country and cross-border expansion. Brazilian merchants and international businesses will now be able to offer their customers the ability to pay with Brazil’s most popular payment methods, without the need to do multiple technical integrations. “Brazil continues to offer an exciting and growing opportunity for all investors, and fintech innovators. We are proud to partner with Rapyd to provide technology services for financial and payments capabilities to both local market players and global entities looking to quickly and efficiently enter the Brazilian market,” said Fred Amaral, General Director at Dock.
“Rapyd has relationships with major global players in ecommerce and the gig economy, it makes sense for us to provide the same capabilities for those companies in Brazil that we offer internationally. Leading global enterprises work with us because we can accelerate their time to market and integrate fintech into their applications while removing the complexities of managing product, compliance and operations,” stated Helcio Nobre, Chief Product Officer at Rapyd.
Full Stack capabilities offered in Brazil Include:
Near real-time interbank payments through TED and real-time book transfers for major retail banks such as Itau, Bradesco, Banco do Brasil, Santander, CEF and Banrisul.
Voucher and OTC cash payments via Boleto Bancario, Lotericas and major retail banks
Local issued credit and debit cards via Visa, Mastercard, Elo, Aura, Hipercard
Bill & Airtime payments for major utility and telecom providers
e-Gift Cards for providers such as Uber, Xbox, GooglePlay and others
Cardless ATM withdrawals through Banco 24 Horas.
Near real-time bank transfers and real-time book transfers for major retail banks, payouts, cash out, cardless ATMs and push to card.
- Card issuing:
- Local wallet and companion cards domestically issued for corporates and individuals.
- Digital Wallets and Payment Accounts
- Issuing of stored valued white-label wallets and payment accounts.
Rapyd announced it’s first full-stack country offering in Singapore in 2019 and will be making new announcements in Asia, Europe and the Americas in 2020. Visit www.rapyd.net/brazil to learn more.
Rapyd does for fintech what the cloud did for IT. They built the world’s largest local payments network to power frictionless global commerce. Innovative ecommerce companies, technology firms and marketplaces use their Fintech-as-a-Service platforms: Collect, Disburse, Wallet and Issuing to seamlessly integrate payment capabilities into their applications. The Rapyd Global Payments Network covers 900+ locally preferred payment methods, including bank transfers, ewallets and cash in more than 100 countries. Now businesses can open new markets, create new fintech applications, and reach four billion consumers worldwide without thinking about infrastructure or regulations. Investors include Stripe, General Catalyst, Oak FT, Tiger Global, Durable Capital, Target Global, and TaL Capital. For more information, visit www.rapyd.net
- Statista ibid
- Nielsen Cross-Border Connected Consumer Study
- Central Bank of Brazil