Worldline and Bexs Pay announce partnership for cross-border remittance in Brazil to bolster online payments
Card-not-present transactions hit $48.5 billion in the first half of 2021 in Brazil, where internet penetration rate rockets to 82.7%
Bezons, 14 December 2021 – Worldline [Euronext: WLN], a global leader in the payments and transactional services industry, is partnering with Bexs Pay, a leading Brazil-based payment provider, to launch a cross-border remittance product for online payments from Brazil, South America’s most vibrant economy. The product combines Bexs Pay’s wide range of payment methods with Worldline’s ability to process payments without the need for a local entity, making it a powerful solution for international online businesses.
Brazil boasts the largest economy in South America and is a digital powerhouse, thanks in part to the 211 million strong population who spend, on average, more time on the internet (9.1 hrs/day) than their American counterparts (6.3 hrs/day). The country’s e-commerce industry has also experienced double-digit growth rates in recent years, despite political and economic crises, and registered 13.6 billion transactions in the first half of 2021, which totalled $228 billion.
Luiz Henrique Didier Jr. CEO at Bexs said: “Partnering with Worldline will open up the Brazilian market to a great number of big international brands. E-commerce growth in Brazil has proved its digital power in recent times and is at the heart of doing business.”
The Worldline / Bexs Pay cross-border remittance solution has been designed to specifically cater to the needs of global online businesses with no local entity in Brazil, providing them with easier market entry and competitive pricing. This further illustrates the exciting opportunity the strategic partnership between Worldline and Bexs Pay presents – one that will combine Bexs Pay’s expertise of Brazil and extensive knowledge of FX transactions with Worldline’s global reach and expert payment capabilities to the benefit of international merchants.
As a key aspect of the partnership, the product will target a constantly growing market and will help online businesses on a variety of fronts, such as selling goods and services to Brazilian consumers and supporting them with both local card and payment methods. The partnership between Worldline and Bexs Pay will deliver key benefits to customers including:
- A wide range of payment methods including popular payment methods Pix, an instant direct bank transfer launched one year ago by the Central Bank of Brazil, and Boleto, a cash-based payment method that can be used by consumers without a bank account. These payment methods cover a large group of consumers, increasing conversion rates
- Help facilitate local transactions without the need for a local entity
- Offer instalment and recurring payment capability and offer funds remittance out of the region in USD or EUR, controlling the currency value through a smart hedge technology
- Pass on taxation, risk, compliance and applicable scheme rules
- Support online businesses comply with local rules and taxation requirements
Daniel Passarelli, Executive Managing Director for Latin America Digital Commerce at Worldline, said: “We’re excited to partner with Bexs Pay, further strengthening our offer in Brazil.
The underlying market developments and consumer behavior show Brazil is primed for extended growth, making it an interesting opportunity for global online businesses.”
ABOUT BEXS PAY:
Bexs Pay is a cross-border payment service provider for international businesses. Through our API platform, our solution provides a unique combination of online payments, mass payouts and FX transactions for digital companies looking to process payments locally in Brazil, receiving or sending payments, without requiring a local entity. Our goal is to bring innovation and technology to facilitate, through a local payment processing, access to global goods and services for Brazilians, enabling international online businesses to reach more than 200 million people. Bexs Pay PSP platform is connected with Bexs Bank, allowing our partners to control FX in real time with no undesired outcomes on their settlements. www.bexs.com.br/en
Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2020 Worldline generated a proforma revenue of 4.8 billion euros. worldline.com
T +43 1 71701 6524
T +33 (0)7 72 25 96 04
Bexs PR Cristiane Nascimento
T +55 97609-0550