On The Web

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Global

Brazil’s Central Bank Caps Prepaid Card Interchange Fees; Fintech Stocks Fall

September 27 2022

• in
• Brazil

“Brazil’s central bank on Monday said it would set a 0.7% limit for interchange fees for prepaid cards, which are offered by fintechs in free digital accounts, in a setback for the booming sector in Latin America’s largest economy. The central bank had put the issue out for public consultation last year, but its proposal […]

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Global

Brazil’s Central Bank Chief Predicts End of Credit Cards

August 16 2022

• in
• Brazil

“Brazil’s central bank chief Roberto Campos Neto on Friday said he believes credit cards will cease to exist soon due to the growth of the open finance system, through which clients authorize financial data sharing with different institutions. Open finance is a central bank project that has been implemented in phases since 2021…Speaking at an […]

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Global

Brazil Banks Do Not Lose Money With Pix, Says Central Bank

August 12 2022

• in
• Brazil

“Brazil’s central bank chief Roberto Campos Neto said on Thursday it is not true that banks lose money with the Pix instant payment system, launched by policymakers in late 2020. Speaking at an event hosted by Brazil’s banking lobby group Febraban, he acknowledged Pix affected revenues to some degree, since in the past banks charged […]

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Global

Pix is Now Second Payment Type in e-Commerce (Brazil)

August 8 2022

• in
• Brazil

“The use of Pix in Brazil’s major online stores has again reached an all-time high level, and now the instant-payment system created by the Central Bank shares with boleto, a banking bar-coded bill for cash payments, the second position among the most available payment methods in e-commerce, according to Gmattos’s most recent payment study. The […]

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Global

Brazilians Are Adopting Digital Payments Faster Than Anyone Else — What Lessons Can We Learn?

June 6 2022

• in
• Brazil

“Digital payments are driving a profound change in Brazil’s banking sector. Over the past 10 years, a silent revolution in Brazil has led to increased competition, more financial inclusion and lower banking fees…Since the beginning of the COVID-19 pandemic, around 16 million people have been enfranchised into the Brazilian financial system. In fact, the increased migration to online services during this […]

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Global

Crypto Is Now Accepted By One Of Brazil’s Leading Real Estate Companies

May 26 2022

• in
• Brazil

“Leading Brazilian real estate developer Gafisa has begun accepting crypto for property sales. According to Gafisa’s backrooms, bitcoin is ideal for real estate development businesses since it eliminates middlemen, a frequent practice in the property development market. The company’s decision to accept bitcoin was based on the technology’s ability to generate new prospects for innovation […]

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Global

Stellar Joins Hands with Mercado Brazil to Develop CBDC for Central Bank of Brazil

May 26 2022

• in
• Brazil

“One of the largest crypto exchanges in Latin America, Mercado Bitcoin and the Stellar Development Foundation (SDF), have joined hands to explore use cases and develop a minimum viable product (MVP) for a central bank digital currency (CBDC) by the Central Bank of Brazil (Bacen). The announcement of the partnership was made with regards to […]

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Global

Brazilians Are Adopting Digital Payments Faster Than Anyone Else — What Lessons Can We Learn?

May 19 2022

• in
• Brazil

“Digital payments are driving a profound change in Brazil’s banking sector. Over the past 10 years, a silent revolution in Brazil has led to increased competition, more financial inclusion and lower banking fees. The explosion of digital payments in Brazil has created an innovative financial ecosystem that works for ordinary people. This progress is the result of a combination […]

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Global

Brazil’s Pix Instant Payments Accelerate Financial Inclusion as an “Instant Economy” Rapidly Rises in Latin America, Per EBANX Beyond Borders Data

April 27 2022

• in
• Brazil
• Latin America

“In a region where about half the population still doesn’t have a bank account, new payment types are unlocking the potential of the Latin American market for online merchants as the open banking movement matures there, according to a new Beyond Borders data analysis released by EBANX, the leading payments platform in Latin America that […]

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Companies

Meta suffers setback with WhatsApp business payments in Brazil

April 20 2022

• in
• Brazil
• WhatsApp

“Meta’s long-awaited plan to allow users to send money to businesses via messaging app WhatsApp in Brazil has been hit by clashes with potential payments partners, marking the latest blow to the tech giant’s sprawling ecommerce ambitions. WhatsApp had aimed to launch a payments-to-merchant (p2m) function in Latin America’s most populous country late last year, […]