Monneo begins LatAm expansion with the support of PIX in Brazil

By Edlyn Cardoza

Through its launch in Brazil, Monneo’s clients can now send and receive money via the country’s most popular payment channels, including PIX, the electronic payment system currently used by 62% of the nation’s population. The rapidly growing solution, first introduced to the country in November 2019, offers Brazilians a genuine alternative to more time-honoured payment systems.

Alongside its support of PIX, Monneo’s expanded service will help clients to execute payments in ways that Brazilians are most accustomed to. The company’s true end-to-end solution provides e-commerce merchants with a viable alternative to a myriad of traditional financial services.

What’s more, through the launch, Monneo can now give its clients greater access to markets in Latin America for accepting payments on their websites and paying out content creators, affiliates, and contractors. With the company’s service, online merchants can accept several payment methods, including credit cards and platforms popular in the region, such as PIX and PicPay.

Monneo already supports local bank transfers across the Latin American region. With its new launch, the company provides online merchants and e-commerce businesses with more local payment methods at their disposal.

Monneo will continue to launch local payment methods in nations within Latin America in the coming months. Following its launch in Brazil, the company will expand solutions to Columbia, Chile, and Mexico.

Speaking on the launch, Lili Metodieva, Managing Director of Monneo, said: “We’re very excited to bring PIX pay-ins and pay-outs, as well as other local payment methods to customers doing business in Brazil, as part of our plans to grow our service across all corners of the globe. Our solution will soon help online merchants and eCommerce businesses operating within Latin America to dramatically streamline the local and international payment process.”

Recently, IBS Intelligence reported that Monneo, a virtual IBAN and corporate account provider, has partnered with a global leader in money transfer services to expand its local banking network.