Global fintech Ebury has partnered with real-time global payment provider Nium to deliver “groundbreaking” global remittance solutions in Brazil.
With an aim to help bolster cross-border payments to-and-from Brazil, Nium and Ebury will enable businesses to send or receive faster and more reliable payments from the country.
Nium’s cross-border payments solution for banks and financial institutions will be integrated into Ebury’s payment flows to enhance speed and efficiency, as well as cost.
The partnership will look to further unlock Brazil’s connection to other emerging markets, which will be supported by Nium’s payment network that supports over 100 currencies in more than 190 countries.
The announcement follows regulatory approval of Ebury’s acquisition of Brazilian fintech Bexs, which includes the businesses Bexs Banco (foreign exchange) and Bexs Pay (payments) in October 2023. The institution is known as Ebury Bank in Brazil.
Luiz Henrique Didier Jr., Executive Director at Ebury Bank in Brazil, said: “Our mission is to connect Brazilian consumers to the world and the world to Brazil’s consumer ecosystem. And the best way to do this is to use high-technology solutions and global coverage, such as those offered by Nium, which bring security and effectiveness to transactions.
“This is a game changer for us. The product demos gave our team a lot of confidence and the technological integration process was seamless and conclusive, reflecting a great start for the partnership.”
Ebury and Nium’s latest venture builds on the duo’s existing partnership in Europe, in which the London-based fintech leverages Nium’s global payments infrastructure to send international supplier and payroll payments around the world.
Building on its global customer base and breadth of coverage across APAC, the US and EMEA, Nium is focused on LATAM as a strategic growth market. The fintech has been operating in the region for several years but marked its formal entry with the opening of a local office in Sao Paulo in August 2023.
