Shopee receives payment institution authorisation in Brazil

Tuesday 3 May 2022 14:58 CET | News

Singapore-based ecommerce platform Shopee has gotten authorisation from Brazil’s central bank to operate as a payment institution.

SHPP Brasil Payment Institution and Payment Services, controlled by SHPP Brasil, will be able to manage prepaid payment accounts, in which funds must be previously deposited.

Shopee has become one of the most-downloaded ecommerce apps in Brazil, drawing users to its low-cost marketplace from other local companies, according to the press release.

Shopee is an ecommerce platform in Southeast Asia and Taiwan. It is tailored for the region, providing customers with online shopping experience through strong payment and logistical support. The company aims to continually enhance its platform and become the region’s ecommerce destination of choice via ongoing product optimisation and localised user-centred strategies.

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Keywords: ecommerce, marketplace, online shopping, online payments, mobile payments
Categories: Payments & Commerce
Companies: Shopee
Countries: Brazil
This article is part of category

Payments & Commerce


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