Ebury, a FinTech specializing in transactions SMEs has broadened its alliance with Nium, a leader in real-time global payments.
This collaboration is set to introduce an innovative global remittance service in Brazil, marking a significant milestone following the regulatory nod to Ebury’s acquisition of the Brazilian FinTech Bexs. This acquisition encompasses Bexs Banco, focused on foreign exchange, and Bexs Pay, dedicated to payments, now operating under the banner of Ebury Bank in Brazil.
The partnership aims to empower businesses with the capability to execute fast, reliable, and cost-effective cross-border payments to and from Brazil. This initiative is a continuation of Ebury and Nium’s existing partnership in Europe, where Ebury, based in London, utilizes Nium’s expansive global payments infrastructure for international supplier and payroll payments.
Ebury, leveraging its significant presence in the FinTech sector, specializes in facilitating transactions for SMEs, enhancing their global trade capabilities. Nium, on the other hand, excels in providing real-time global payment solutions, supporting payouts in over 100 currencies to more than 190 countries, including 100 in real-time. Through this partnership, Nium’s bulk cross-border payment solutions will be integrated with Ebury’s extensive payment flows, aiming to revolutionize the efficiency, speed, and cost of international transactions for businesses.
This collaboration is anticipated to bolster Brazil’s connectivity to emerging markets, previously inaccessible. By combining high-technology solutions and global coverage, such as those offered by Nium, the partnership aims to introduce security and effectiveness into transactions, thereby significantly benefiting the Brazilian market.
Nium’s strategic focus on Latin America, marked by its formal entry into the region with a new office in Sao Paulo in August 2023, underscores its commitment to enhancing digital payment solutions in Brazil. This partnership represents Nium’s inaugural bank partnership in Brazil, poised to catalyze digital payment innovation and address the challenges faced by businesses and individuals in international transactions.
“Ebury Bank in Brazil’s Executive Director, Luiz Henrique Didier Jr., said, “Our mission is to connect Brazilian consumers to the world and the world to Brazil’s consumer ecosystem. And the best way to do this is to use high-technology solutions and global coverage, such as those offered by Nium, which bring security and effectiveness to transactions. This is a game changer for us. The product demos gave our team a lot of confidence and the technological integration process was seamless and conclusive, reflecting a great start for the partnership.”
Christina Hutchinson, General Manager, Brazil and Head of Business Development, LATAM at Nium, expressed her enthusiasm, stating, “Brazil has tremendous potential to set a global example in digital payment innovation. But today, businesses and individuals here continue to face costly hidden fees, significant delays, and uncertainty every time they send or receive international payments via traditional wires or legacy banking systems.
“We are thrilled to expand our existing collaboration with Ebury in Europe to help Brazil’s underbanked SME and consumer population access more affordable and efficient ways to send and receive money. This is another great example of how cutting-edge cross-border payment solutions are having a meaningful impact on the lives of millions of people around the world.”
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