This authorisation allows Zoop to function as a Payment Institution (Instituição de Pagamento (IP)) and serve as an electronic currency issuer (EMI), as officially published in the Official Gazette of The Union. The granted IP license stands to improve Zoop's market standing by providing direct access to the Brazilian Payment System (SPB) and the Instant Payment System (SPI). The development also positions the company to explore new business opportunities and facilitates the creation of innovative financial services infrastructure solutions according to the official press release.
Following this license acquisition, Zoop plans to diversify its product and service portfolio to support its partners with additional resources. The expanded offerings include direct bill settlement, Pix as a service, core banking services, and innovative solutions within the realm of Open Finance, such as ITP as a service.
In the official press release, representatives from Zoop talked about this new licence and highlighted the company's newfound ability to offer more comprehensive and personalised financial solutions to customers and partners.
Zoop's platform offers several APIs covering payments, banking, credit, and advanced SDKs. This approach allows Zoop's clients, including entities such as Nubank, iFood, and Banco Itaú to create, supply, and manage their own financial services brands in a personalised fashion.
Zoop has solidified its presence in the financial market through various projects, including the development of technological infrastructure for the iFood Restaurant Bank, the implementation of payment solutions for Itaú Shop, and the creation of a 'tap-to-pay' solution for Nubank.
In July 2023, Zoop announced the release of the pilot of its new service, the Payment Transaction Initiator, tested by iFood and OLX. At the time of writing, the solution was being tested by ecommerce companies iFood and OLX, and it was presented during the Brazil 2023 E-Commerce Forum.
The ITP was designed to reduce the dropout date of online purchases, as it can decrease the payment procedure, making the experience of customers more efficient and faster. The payment initiator represents Zoop’s first product that is part of the Open Finance ecosystem.
In June 2023, Zoop announced its partnership with Nubank in order to release its new product, NuTap. The new tool was designed to offer Nubank’s PJ clients and customers the capability to receive payments by using credit cards, debit cards, as well as Pix directly from their mobile phones.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now