Worldline and Bexs Pay partner for cross-border remittance in Brazil to bolster online payments

By Edlyn Cardoza

Worldline, a global leader in the payments and transactional services industry, is partnering with Bexs Pay, a leading Brazil-based payment provider, to launch a cross-border remittance product for online payments from Brazil, South America’s most vibrant economy. The product combines Bexs Pay’s wide range of payment methods with Worldline’s ability to process payments without the need for a local entity, making it a powerful solution for international online businesses.

Brazil boasts the largest economy in South America and is a digital powerhouse, thanks in part to the 211 million strong population who spend, on average, more time on the internet (9.1 hrs/day) than their American counterparts (6.3 hrs/day). The country’s e-commerce industry has also experienced double-digit growth rates in recent years, despite political and economic crises, and registered 13.6 billion transactions in the first half of 2021, which totalled $228 billion.

Luiz Henrique Didier Jr. CEO at Bexs said: “Partnering with Worldline will open up the Brazilian market to a great number of big international brands. E-commerce growth in Brazil has proved its digital power in recent times and is at the heart of doing business.”

The Worldline / Bexs Pay cross-border remittance solution has been designed to specifically cater to the needs of global online businesses with no local entity in Brazil, providing them with easier market entry and competitive pricing. This further illustrates the exciting opportunity the strategic partnership between Worldline and Bexs Pay presents – one that will combine Bexs Pay’s expertise of Brazil and extensive knowledge of FX transactions with Worldline’s global reach and expert payment capabilities to the benefit of international merchants.

As a key aspect of the partnership, the product will target a constantly growing market and will help online businesses on a variety of fronts, such as selling goods and services to Brazilian consumers and supporting them with both local card and payment methods. The partnership between Worldline and Bexs Pay will deliver key benefits to customers including:

• A wide range of payment methods including popular payment methods Pix, an instant direct bank transfer launched one year ago by the Central Bank of Brazil, and Boleto, a cash-based payment method that can be used by consumers without a bank account. These payment methods cover a large group of consumers, increasing conversion rates
• Help facilitate local transactions without the need for a local entity
• Offer instalment and recurring payment capability and offer funds remittance out of the region in USD or EUR, controlling the currency value through a smart hedge technology
• Pass on taxation, risk, compliance, and applicable scheme rules
• Support online businesses comply with local rules and taxation requirements

Daniel Passarelli, Executive Managing Director for Latin America Digital Commerce at Worldline, said: “We’re excited to partner with Bexs Pay, further strengthening our offer in Brazil. The underlying market developments and consumer behavior show Brazil is primed for extended growth, making it an interesting opportunity for global online businesses.”

Recently, IBS Intelligence reported that Thunes, a Singapore-headquartered global payments company, announced a partnership with Brazil’s Bexs Banco, a pioneer in international digital payments, to help global businesses and customers make real-time payments to Brazil, including payments to Pix, the instant payment system developed by Brazil’s Central Bank.