Euronext-listed payments giant, Worldline announced today that it is partnering with Bexs Pay, one of the leading Brazilian payment firms, to introduce a cross-border remittance product for digital payments from Brazil.
The South American nation is one of the largest economies in the region. With an internet penetration rate of 82.7%, the adoption of digital tools for payments in the country has increased substantially since 2020. Brazil’s e-commerce industry has witnessed double-digit growth in the past few years.
The launch of the recent product by Worldline and Bexs Pay will combine a broad range of payment methods by Bexs Pay with Worldline’s capabilities of payment processing. According to Worldline, the product will increase the volume of online payments in Brazil.
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.”
In an effort to expand its global presence, Worldline recently completed the acquisition of Handelsbanken’s card acquiring activities in the Nordic region. In addition, the payments and transactional services provider developed a strategic collaboration with Eurobank in November 2021 and agreed to acquire 80% of Eurobank Merchant Acquiring activities.
Brazilian Market
Despite economic and political challenges, online businesses are booming in Brazil, thanks to surging demand for e-commerce and digital technologies. The partnership will support online companies in local card and payment methods. Additionally, the collaboration will facilitate local transactions without the need for a local entity.
Luiz Henrique, the 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.”
