Following this announcement, OpenPayd is set to give its clients and users the possibility to send and receive payments via Pix, the Brazilian real-time payment network.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of users and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry.
As the digital economy’s global nature currently needs robust international infrastructure for businesses with strong development ambitions, OpenPayd provides its users with a global suite of Embedded Finance infrastructure through the use of a single API. Clients will have the capability to embed payments easily, access accounts in several currencies, and leverage foreign exchange solutions into their own platforms, while also moving banking and payments from a cost centre to a revenue generator.
Pix was developed in order to combat the challenges designed by traditional fund transfer methods that are offered by Brazil’s banking sector, which incurred high transfer fees, limitations by settlement time, and restrictions to `working day` operational hours. At the same time, Pix local transactions were made available for customers 24/7 and aimed to be cheaper, while also prioritising the process of being more reliable for businesses and users alike. By enabling access to a large payment rail, the initiative is expected to ensure that users’ transactions can be as wide-reaching and fast as possible.
Throughout this launch, OpenPayd is set to continue to expand its access to local and international payment rails in order to support its strategy of accelerating the overall development and growth of the digital economy. In addition, the company’s clients will have the possibility to send and receive transactions across 190+ countries and territories through a single API, or via the online platform in a secure and efficient manner.
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