Payments News

On The Web

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Domains

E-Commerce Powerhouse MercadoLibre Eyes Record Brazil Investment

“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

“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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Deals

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

“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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Deals

J.P. Morgan Buys Stake in Brazilian Fintech FitBank

“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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On The Wires

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Domains

 Western Union Expands International Payment Services in Brazil

“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.”