Payments

Rapyd enters Brazil with localized payments platform

  • The UK fintech as a service company is expanding internationally.
  • Brazil offers a big opportunity for fintech firms.
close

Email a Friend

Rapyd enters Brazil with localized payments platform

Local payments infrastructure company Rapyd is launching an integrated solution in Brazil.

The launch: 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.

  • The London-based company has partnered with Brazilian payment providers like Dock, Banco Rendimento, and other partners in building out its local offering.
  • Rapyd’s launch of its Brazilian platform supports cash, bank transfers, ewallets, bill payments, and debit and credit card transactions and issuing in Brazil.
  • Rapyd offers near real-time interbank payments through TED and real-time book transfers for major retail banks like Itau, Bradesco, Banco do Brasil, Santander, CEF and Banrisul. 
  • Its capabilities include local issued credit and debit cards via Visa, Mastercard, Elo, Aura, Hipercard.
  • Rapyd clients can offer their customers cardless ATM withdrawals through Banco 24 Horas and e-Gift Cards for providers such as Uber, Xbox, and Google Play. 

International expansion: Rapyd announced its first full-stack country offering in Singapore in 2019 and plans to make new announcements in Asia, Europe and the Americas in 2020. 

Brazil: Brazil is becoming an increasingly popular stop when fintech firms expand internationally.

  • Brazil is the largest economy in South America.
  • Over 60 percent of the population shops online and 44 percent transacts cross-border.
  • Nearly 55 million Brazilians don’t have a bank account at all.
  • Brazil’s Nubank is the largest challenger bank in the world.

“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,” said Arik Shtilman, CEO of Rapyd.

“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 recently raised $120 million and is valued over $1 billion, according to TechCrunch.

  • Investors include Stripe, General Catalyst, Oak FT, and Tiger Global.

0 comments on “Rapyd enters Brazil with localized payments platform”

Payments, Podcasts

Payoneer’s Charles Rosenblatt: ‘We found a way to play on both sides of the market’

  • Charles Rosenblatt has a long career in payments.
  • Joining Payoneer recently as chief strategy officer, he joins us to discuss the company's progress and future plans.
Zachary Miller | September 14, 2020
Payments

Ant Group files to go public in what could be the largest IPO in history

  • China's Ant Group has filed for a massive dual listing in Shanghai and Hong Kong.
  • The payments firm has expanding into banking, insurance and investing via third parties.
Zoe Murphy | August 26, 2020
Payments, Podcasts

WePay’s Jennifer Parker: ‘We’re seeing inspiring early pivots with software firms and marketplaces’

  • WePay provides payment APIs to ISVs and marketplaces.
  • CRO Jennifer Parker joins us on the podcast to discuss initiatives she's leading during the crisis.
Zachary Miller | August 06, 2020
Payments, Podcasts

Afterpay’s Laura Nadler on the new loyalty program and expansion plans in the U.S.

  • Afterpay is one of the fastest growing buy now, pay later firms in the world.
  • The US CFO joins us to talk about levers for that growth and the fintech's priorities for 2020 and beyond.
Zachary Miller | August 04, 2020
Payments

Mastercard partners with Microsoft to accelerate innovation across payments

  • Financial inclusion is a big theme for both firms.
  • Microsoft's Azure cloud environment will provide the infrastructure for Mastercard's partners' inclusion products and services.
Zoe Murphy | July 28, 2020
More Articles