Volt has launched in Brazil in a bid to accelerate a global open banking payments revolution targeting a ‘strategic’ growth market.
The open payments fintech has now integrated Brazil’s domestic instant payments network Pix – and established its physical presence in São Paulo.
André Faria, Ex-Adyen VP and Volt founding director, LATAM, commented: “Brazil’s rapidly growing ecommerce market and traditionally underserved customer base has created a landscape ripe for payments innovation.
“A year since its inception, we have seen a stratospheric rise of the Pix platform with unrivalled consumer adoption. By building on this already well-established instant payments network, we are enabling both dometstic and export payments for local and international businesses – whether they have an on-the-ground presence or not – at the speed of now.”
Volt customers can now access Latin America’s largest and fastest growing markets, whilst cutting out the region’s lengthy settlement times (from 28 days to two seconds) and costly card infrastructure, whilst boosting payment conversion rates.
Furthermore, the announcement marks the latest step in Volt’s expansive growth plans in response to rising demand for real-time payments everywhere.
Tom Greenwood, Founder and CEO at Volt, added: “Pix is a shining example of the power of instant payments, creating a huge opportunity for ambitious global merchants. From NPP in Australia to Singapore’s FAST network, real-time payment networks are developing at an unprecedented pace across the globe.
“Our decision to expand into Brazil aligns with our ambition to unite these disparate and often fragmented systems into a single and unified payments interface through which merchants can receive payments account-to-account and in real-time.”