On The Web

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Global

Brazil launches ‘Pix’ instant payments system, Whatsapp to enter ‘soon’

November 16 2020

• in
• Brazil
• Faster payments

“Brazil’s central bank on Monday launched an instant payments platform that will speed up and simplify transactions, as well as foster financial sector competition and lure in new players such as big techs Facebook Inc and Google. Dubbed “Pix,” the state-owned instant payments system allows consumers and companies to make money transfers 24 hours a […]

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Deals

Brazilian payments firm Conductor raises $150 million, eyes U.S. listing: CEO

November 3 2020

• in
• Brazil

“Backed by investment firm Riverwood Capital and payments processor Visa Inc V.N , Conductor provides payments services and software to companies including fintech businesses and retailers. It has 30 million active users and processes 1.5 billion transactions per year, according to Conductor’s website.”

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Domains

E-Commerce Powerhouse MercadoLibre Eyes Record Brazil Investment

October 15 2020

• in
• Brazil
• Remote Commerce

“E-commerce retailer MercadoLibre Inc. is boosting its bet on Latin America’s largest economy, with plans to invest record amounts in 2021. The region’s most valuable company, which is investing a record 4 billion reais ($716 million) this year in Brazil, plans to beat that number in 2021, said Fernando Yunes, the firm’s country manager for […]

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Global

JPMorgan-Backed Brazil Fintech Plans to Expand in U.S., Mexico

September 22 2020

• in
• Brazil
• Fintech
• Mexico

“FitBank Pagamentos Eletronicos SA, a Brazilian fintech backed by JPMorgan Chase & Co. , plans to open a U.S. office in the first half of 2021. The payment-services firm, which has more than 100 clients in Brazil, is also expecting to start operations in Mexico, Peru and Colombia sometime next year, according to Chief Executive […]

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Global

Brazil Targeting a 2022 Launch for Its CBDC

September 9 2020

• in
• Brazil
• Central bank digital currencies (CBDC)

“Brazil aims to launch a central bank digital currency (CBDC) by 2022, the president of the Central Bank of Brazil has revealed. The CBDC will be part of Brazil’s plan to digitize its payment system, including launching an instant payments system and a competitive Open Banking System.”

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Deals

General Atlantic Leads $300 Million Growth Round for Brazilian Fintech Company

September 3 2020

• in
• Brazil

“Growth-equity firm General Atlantic has led a $300 million funding round for Brazilian financial technology company Neon Pagamentos SA to help foster the company’s continued growth. The latest funding comes not long after the firm helped back the company in a roughly $92 million Series B financing round in 2019 and brings total capital raised […]

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Global

Brazil Will Authorize Payments System Involving WhatsApp If Rules Are Respected, Central Bank Director Says

July 21 2020

• in
• Brazil
• Central Banks

“Brazil’s central bank will authorize a payments system involving Facebook Inc’s ( FB.O ) WhatsApp messaging service, to send money and make payments via chats, as long as all rules are respected, director Joao Manoel Pinho de Mello said on Monday.”

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Deals

J.P. Morgan Buys Stake in Brazilian Fintech FitBank

July 14 2020

• in
• Brazil

“J.P. Morgan bought a minority stake in Brazilian fintech FitBank, its first strategic investment in the payments industry in Latin America. The price was not disclosed. The funds will be used to broaden the portfolio and for international expansion as the firm wants to be a “big financial tech.” In the region, the expansion will […]

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Companies

Facebook, Cielo Ask Brazil’s Antitrust Watchdog to Reverse Decision on Payments Deal

June 30 2020

• in
• Brazil
• Facebook
• WhatsApp

“Facebook Inc and card acquirer Cielo SA have asked Brazil’s antitrust watchdog Cade to reverse the suspension of an agreement they struck paving the way for WhatsApp to roll out a new payments system, according to a document. Both companies argued that their agreement was not exclusive and allowed rival card acquirers to forge deals […]

On The Wires

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Domains

 Western Union Expands International Payment Services in Brazil

August 7 2020

• in
• Brazil
• Cross-border payments

“The Western Union Company, a leader in cross-border, cross-currency money movement and payments, today announced an expansion of services between its Western Union Business Solutions division and Banco SEMEAR in Brazil to offer the WU® GlobalPay for FI platform, the Company’s solution for financial institutions that enables customers to make international payments simply and efficiently.”