Paysecure to expand in LATAM

Wednesday 31 January 2024 09:46 CET | News

UK-based payment company Paysecure has announced its expansion into the Latin American market, with a primary focus on Brazil. 


The company is expanding its payment offerings by introducing PIX, a popular payment method used in Brazil. This addition will provide businesses in Brazil access to secure and real-time payment options, boosting their overall transaction efficiency. 

Paysecure is a gateway for online transactions which has a comprehensive suite of products, including payment processing, an orchestration platform, an in-house User Trust Score, and over 200 payment methods. The company is set to broaden its footprint in Brazil through an acquisition of a local company. Although the details of the acquisition are currently confidential, this move underlines Paysecure's commitment to strengthening its presence in key markets and expanding its global influence. 

According to Paysecure’s officials, Brazil will mark an important chapter for the company’s business revenue trajectory. Its debut in the country will be facilitated by an important partnership with a fintech company. Therefore, Paysecure is confident that this move will allow the expansion of its current global customers into a rapidly evolving market, while also helping local operators to venture into international markets with ease.

Digital payments market in Brazil

The digital payments market in Brazil is currently experiencing a surge in growth, driven by the increasing adoption of ecommerce and mobile payments, as well as the rise of contactless payments. Moreover, digital wallets and mobile payment apps such as PayPal, Venmo, and Cash App have become increasingly popular among consumers, allowing for easy and secure transactions. 

According to a report, the total transaction value in the digital payments market is projected to reach USD 170.10 billion in 2024, with an annual growth rate of 10.51% resulting in a projected total amount of USD 253.70 billion by 2028.

As for PIX payments specifically, some statistics show that from January 2020 to November 2022, it increased by 14 %. Moreover, by January 2022, it was already used by 71% of the population in Brazil. The last reports from the Brazilian Central Bank showed that Pix generated a monthly volume of USD 100 million of funds transferred. 

Although it has more features, such as Pix Troco (receive changes after purchases) and Pix Saque (cash withdrawal), it allows transfers between bank accounts within seconds, at any time or day. It is practical, fast, safe, and accessible to people, while it enables all wallets that use QR Codes to be interoperable. This means that transfers and payments are allowed from one e-wallet to another in real-time, 24/7.

Paysecure previous developments

Paysecure is a trusted global payment company that provides a comprehensive suite of products to facilitate easy and optimised online transactions. Their suite of products includes payment processing, an orchestration platform, and a User Trust Score. In addition, Paysecure specialises in offering a one-stop-shop solution for businesses, enabling integration with Payment Service Providers (PSPs) and acquirers across diverse industries, such as iGaming, ecommerce, Forex, sports, betting, and more.

Moreover, with a single payment gateway integration, Paysecure offers both B2B and B2C entities the flexibility to access diverse payment methods and swift payouts, accelerate transaction speeds, and reduce fraud and chargebacks.

To expand its suite of services, Paysecure had multiple collaborations and developments in the last couple of months, covering several different geographic areas around the world. In October 2023, Quickbit announced a partnership with Paysecure, a collaboration through which Quickbit get access to Paysecure’s advanced and secure payment platform for analysing payment routes to drive traffic through their network of merchants, and to raise transaction volumes and revenues. 

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Keywords: expansion, digital payments, PIX, transactions , ecommerce
Categories: Payments & Commerce
Companies: Paysecure
Countries: Brazil
This article is part of category

Payments & Commerce


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