International payment service provider, Bexs Pay is partnering with NuPay, a next gen neo banking platform, to facilitate e-commerce payment intermediation.
With this acquisition, Nubank users will be able to process debit payments or pay in up to 24 no-cost EMI (Equated Monthly Installment) from Nubank app, without signing any contract and providing their bank details. This will allow buyers to make purchases immediately.
Sources cite that Nubank customers will be able to access the new payment solution which could be of great help to Brazilian shoppers as stats from NielsenIQ Ebit indicate that 68% of the Brazilian customers bought from international websites in 2021.
For those unaware, Bexs Pay utilizes a cross-border model to connect people and businesses, allowing Brazilians to get international products and services by paying in their own currencies.
Luiz Henrique Didier Jr., CEO of Bexs Pay, said that the partnership will accelerate the number of people accessing international services and products, further facilitating cross-border transactions for masses.
Besides this, store owners will also benefit by this partnership as they will have increased sales volume from customer, and improved operational processes.
In addition, the store owners will require lower working capital due to the next-day settlement facility available in the new payment option. The system will also eliminate intermediaries, chargeback costs and anti-fraud tools.
Retailers already accessing this payment solution in partnership with NuPay include Madesa Móveis, Consul, and Positivo Tecnologia. The payment method will be made accessible to several other retailers in the upcoming months and can be directly incorporated with e-commerce platforms or via an application programming interface (API).
Bexs Pay will also integrate this solution with leading online players across the globe, including French company Worldline.
Apart from this, Nubank is also working on a $650 million credit line to expand its reach in Mexico and Colombia.