This is the first time the Lanistar service has been approved for use through Google's proprietary secure payment platform.
Not only will this technology allow the fintech's services to be more and more accessible for users by assuring there will be no restrictions when it comes to making transactions but will also give the app itself more appeal.
Lanistar has been expanding rapidly in Brazil, having gone public in the country in mid-2022. The Lanistar mobile app enables customers to manage and control all of their financial products from one place, with a virtual card to allow purchases to be made online or now via Google Pay.
The app also integrates with regional payment solutions PIX and Boleto, giving Brazilian customers wide-ranging functionality without the need for a physical payment card. This is being done in an effort to minimise the fintech's environmental impact, all while providing convenient payment solutions to users.
Encouraging the use of a virtual card in lieu of a physical card is a bold strategy, but one that Lanistar is adamant will be successful, especially in pushing new and environmentally friendly technologies into the wider financial market. It is a small but efficient way of helping the environment, and one that Lanistar is boldly championing.
Google Pay is a mobile payments service developed by Google to power in-app, online, and in-person contactless purchase on mobile devices, enabling consumers to make payments with Android phones, tablets, or watches.
Officials from Lanistar said that they are a platform that is still new and growing, but Google Pay integration will be transformational for their customer base and raises them to the next level in terms of functionality. They are all about ease of use and this is proof of that.
With an established customer base in Brazil, the immediate roll-out of Google Pay in-market was the logical choice. Lanistar’s plans for 2023 intend to take the company into other LATAM territories, as well as to a variety of other locations around the world, including the USA, Canada, and Europe.
Lanistar was founded in 2019 with the ambition to build a fintech unicorn that challenges the status quo of old-fashioned, traditional banking services.
Using modern technology and working with industry-leading partners, the company is building a platform that provides a total 'AnyMoney' solution for its customers. This will give customers access to all their financial products in one place, from general bank accounts all the way through to cryptocurrency.
Lanistar is not a bank but a payment card provider, operating as an intermediary that offers financial services to end users. Lanistar offers the services of a typical bank account through its banking partner Modulr, but with advanced UI/UX and design to make it easier and more secure than high street banks.
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