Rapyd simplifies connections to Brazilian payment ecosystem
Mobile financial network provider Rapyd is embedding its open development tools with Brazilian processors to support payments in any local method.
London-based Rapyd's fintech-as-a-service model will work with payment providers like Dock and Banco Rendimento, as well as several local partners, to support cash, bank transfers, e-wallets, bill payments, and credit and debit transactions in Brazil through a single integration.
"We believe Brazil is a high-growth market with substantial opportunities to provide comprehensive payment services," Arik Shtilman, CEO of Rapyd, said in a Monday press release.
Payment acceptance, disbursement and issuing capabilities through the integration would support e-commerce, gig economy, digital goods, fintech and B2B markets, Shtilman added.
Brazilian merchants and international businesses will be able to offer customers the ability to pay with Brazil's most popular payment methods through the Rapyd technology, eliminating the need to establish multiple technical integrations.
"Brazil continues to offer an exciting and growing opportunity for investors and fintech innovators," Fred Amaral, general director at Dock, said in the release. The partnership with Rapyd will help "local market players and global entities looking to quickly and efficiently enter the Brazilian market," he added.
The services will include near real-time interbank payments and real-time book transfers for major retail banks such as Itau, Bradesco, Banco de Brasil, Santander, CEF anda Banrisul.
Payments through locally issued credit and debit cards would be accepted through Visa, Mastercard, Elo, Aura and Hipercard. Rapyd's full-stack country service also includes issuing of stored-value white-label wallets and payment accounts.