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News

Ebury and Nium expand partnership

Thursday 22 February 2024 11:41 CET | News

Ebury has expanded its partnership with Nium, a real-time payments provider, aiming to deliver a global remittance service in Brazil. 

The announcement comes after the regulatory approval of Ebury's acquisition of Brazilian fintech Bexs, which includes the businesses Bexs Banco (foreign exchange) and Bexs Pay (payments). The institution is known as Ebury Bank in Brazil, reflecting the local FX banking license held in the country. 

According to the press release, Nium and Ebury are set to enable businesses to send or receive reliable and affordable cross-border payments to and from Brazil. This builds on the companies’ existing partnership in Europe, in which UK-based fintech Ebury leverages Nium's global payments infrastructure to send international supplier and payroll payments worldwide.

Ebury has expanded its partnership with Nium, a real-time payments provider, aiming to deliver a global remittance service in Brazil.

Nium's cross-border payment solution for banks and financial institutions will join Ebury's payment system, increasing speed, efficiency, and cost of international business transactions. This partnership is expected to expand Brazil's reach into new markets. Nium's network covers more than 100 currencies and more than 190 countries, with real-time payouts available in 100 of them.  

Ebury's mission is to connect Brazilian consumers to the world and the world to Brazil's consumer ecosystem. Using technology solutions and global coverage, such as those offered by Nium, brings security and effectiveness to transactions. 

Brazil's digital economy 

Brazil's digital payments market is projected to grow to a total transaction value of USD 170 billion in 2024. Government statistics indicate there are over 21 million SMEs in Brazil today, with a total estimated population of over 215 million people. 

Brazil has the 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. 

Nium stated that expanding its 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. 

About Ebury 

Ebury is a global fintech specialising in international payments, FX solutions and risk management tools, primarily targeted at SMEs. Its offering comprises products in over 130 currencies in both large markets and emerging economies, as well as international cash management, foreign trade and FX risk management strategies. The company also offers API solutions for fintechs, agrotechs and digital platforms in the cross-border universe. In 2023, Ebury obtained approval from the Central Bank of Brazil for the acquisition of the Bexs Group, including Bexs Banco (FX) and Bexs Pay (cross-border payments).   

About Nium 

Nium's mission is to build the real-time global payments infrastructure. With the onset of the on-demand economy, its single platform for global payments and card issuing is shaping how banks, fintechs, and businesses everywhere disburse and collect funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which are in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. The company holds regulatory licenses and authorisations in more than 40 countries, enabling onboarding, rapid integration, and compliance.

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Keywords: partnership, cross-border payments, real-time payments, financial services, SMEs
Categories: Payments & Commerce
Companies: Ebury, Nium
Countries: Brazil
This article is part of category

Payments & Commerce

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Ebury

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