Transfeera Joins PayRetailers To Expand Business Payments Services In Latin America
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PayRetailers, a payments processor in Latin America and Africa has announced the acquisition of payments FinTech platform Transfeera. The deal received approval from both the Administrative Council for Economic Defense (CADE) and Brazil’s central bank (BCB).
The companies revealed that the acquisition is part of PayRetailers’ plan to grow its presence in Brazil. This is coming after PayRetailers received a payment institution license from BCB in April.
PayRetailers Acquires Transfeera To Expand Payment Solutions
PayRetailers revealed that the deal would allow the firm to directly access Pix, a popular payment system in Brazil, which enables users to transfer money instantly in Brazilian real.
The acquisition is expected to strengthen PayRetailers’ regulatory and risk management structures in Brazil, while also expanding opportunities in open banking.
Founded in 2017, Transfeera provides platform and technology solutions for payment processing and bank data validation. The company brings over 500 new clients, helping PayRetailers achieve its goal of increasing its services to Brazilian businesses in the coming year.
Fernando Nunes, Transfeera’s co-founder and Chief Executive Officer, stated that the acquisition gives them access to various payment methods across Latin America and Africa. He added that this is possible through a single API in over 20 countries.
Nunes revealed that this strengthen Transfeera’s competitive position in the market. He added that together, the two companies plan to speed up technological innovation and offer secure and efficient solutions to meet market needs.
This acquisition is seen as part of a larger trend in Brazil’s expanding digital payments ecosystem. Recently, PayRetailers focused on improving its services in Brazil, with a specific emphasis on Pix, which is used by 77% of the country’s residents.
PayRetailers Expands Reach In Latin America And Africa
Pix’s use continues to grow, with cross-border payment platform dLocal becoming a certified payment service provider in Brazil the previous month. dLocal can now enable Pix payments directly within the open finance ecosystem, removing the need to redirect users to bank apps.
According to the company, this certification allows dLocal to simplify the checkout process when Pix payments are used, improving merchant conversion rates.
In another example, last month, Peru’s B89 teamed up with PagBrasil, which develops cross-border solutions for the Pix payment system. This partnership also aims to streamline Pix transactions, adding to the growing momentum of digital payments in Brazil.
The rise of platforms like Pix and the expanding network of certified payment service providers are reshaping Brazil’s payment landscape, benefiting businesses and consumers alike. These developments align with PayRetailers’ goal to broaden its reach in Latin America and Africa, increasing its role in the global payments ecosystem.
