- The new service, which will be developed by a set of collaborative partnerships with various providers, will be aimed at Brazilian merchants who want an all in one solution
- The list of partners includes Dock, a tech firm, and Banco Redimento
- “We believe Brazil is a high-growth market with substantial opportunities to provide comprehensive payment services”, said Rapyd’s CEO
Fintech leader Rapyd has announced that it will work alongside a group of new partners in the South American nation of Brazil.
The new offer will focus on a range of services, including cash transactions as well as bill payments.
It will benefit merchants in the country, who will be able to accept payment methods which are highly valued by Brazil’s public.
Given the integrated, all in one nature of the new solution, the firms will be able to do this without having to go through a technical process for each one.
One of the partners in question is Banco Rendimento, which offers payment solutions and international money transfer capabilities.
The other major partner is Dock, which was described in the money transfer press as a banking-as-a-service technology firm.
A range of other local institutions will also be involved.
In a statement, Arik Shtilman – who serves as the CEO of Rapyd – said that there were many different “use cases” on offer for the new solution in the Brazilian economy.
“We believe Brazil is a high-growth market with substantial opportunities to provide comprehensive payment services”, he said.
“These include acceptance, disbursement, and issuing capabilities that support a variety of use cases in e-commerce, gig economy, digital goods, fintech, and B2B markets”, he added.
He also emphasised the fact that his firm’s offer was “full-stack”.
“Our full-stack Fintech as a Service offering provides both domestic and international companies that are doing business in Brazil”, he explained.
“It opens up a new way to reach out to a much larger pool of customers who are using alternative local payment methods”, he added.
Rapyd has a base in Brazil and employs some staff there.
It is widely considered by the market to be a recognised institution, and it does business in areas such as e-wallet white labelling too.
It recently had a fundraising round which raised $180m altogether.
On Dock’s part, Fred Amaral – who serves as its general director – said that the firm was “proud” of its new-found partnership with Rapyd.
“Brazil continues to offer an exciting and growing opportunity for all investors, and fintech innovators”, he said.
“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”, he added.
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