Rapyd partners with Belvo

Wednesday 10 May 2023 14:37 CET | News

Rapyd has partnered with Belvo, a Latin America-based Open Finance data and payments platform.

By combining Rapyd’s global payments network with Belvo’s expertise in Open Banking, the partnership will enable businesses across Latin America to deliver Open Finance experiences to their customers. This collaboration aims to empower businesses and developers with access to data, payment networks and technologies, streamlining the way they access and interpret data, send, receive, and manage funds in the LATAM market.

Rapyd partners with Belvo, a Latin America-based Open Finance data and payments platform.

The rise of Open Banking has presented a significant opportunity for fintech companies like Rapyd and Belvo to create innovative solutions that cater to the diverse needs of the region. Belvo, already serving over 150 clients in Brazil, Mexico, and Colombia, including large financial institutions, neobanks, lenders, and ERP companies, is dedicated to helping companies leverage Open Finance data and payments to create more secure, efficient, and inclusive products in Latin America.

Combining both companies’ capabilities will unlock significant synergies in terms of go-to-market motions as well as product development and solutions for our customers.

Addressing the growing demand for digital payments

According to a report by Americas Market Intelligence (AMI), the LATAM fintech sector has been growing at an accelerated pace, with digital payments expected to reach USD 802 billion by 2025. As more consumers opt for shopping on mobile devices and digital banking gains traction, businesses need to adapt and offer more diverse payment options. With this partnership, Belvo and Rapyd aim to address the growing demand for digital payments while fostering a culture of fintech innovation in Latin America.

The partnership between Rapyd and Belvo will enable businesses in Latin America to offer a wider range of digital payment options to their customers, including bank transfers, credit and debit cards, and e-wallets. This will help businesses to meet the evolving needs and expectations of consumers, who increasingly demand fast and convenient payment options. Additionally, Rapyd's platform offers multi-currency support, enabling businesses to accept payments in local currencies, further enhancing the appeal of digital payments for consumers across the region.

Belvo’s recent partnerships

Belvo has established several partnerships with other fintech companies and institutions. One of its notable partnerships is with Visa. Through this collaboration, Belvo has integrated with Visa's APIs, enabling its clients to access Visa's network of merchants and payment providers. This integration has expanded Belvo's capabilities in the region, allowing it to offer more payment options and services to businesses and developers. This has contributed to the growth of the fintech ecosystem in Latin America, enabling businesses to serve their customers better and drive economic growth in the region.

Another important partnership for Belvo is with Latin American fintech unicorn Nubank. The partnership with Belvo has enabled Nubank to expand its offerings, providing customers with access to a broader range of financial services.

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Keywords: partnership, Open Finance, data, payments , Open Banking
Categories: Banking & Fintech
Companies: Belvo, Rapyd
Countries: Latin America
This article is part of category

Banking & Fintech




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