A Canadian company that makes it easier for businesses to receive payments with cryptocurrencies has now arrived in Brazil. So, another publicly traded company from around the world is coming to the country with innovative solutions to help stores evolve their relationship with decentralized digital currencies.

Since the start of the pandemic, Brazilians’ relationship with online shopping has only strengthened. A recent study by consultancy NielsenIQ Ebit reports that Brazilian e-commerce saw a 27% increase in 2021 alone.

Mindful of the movement, Nuvei, a company based in Montreal, arrived in Brazil in 2021, after acquiring a local payment company. With technology solutions for global payments, the company hopes to expand its focus across Latin America.

A company that facilitates payments with cryptocurrencies from Canada lands in Brazil and promises expansion

In September 2021, global payments company Nuvei (Nasdaq: NVEI) (TSX: NVEI) announced the purchase of Paymentez. This fintech based in Miami serves all of Latin America and serves online games, mobile applications, among others.

For Rafael Lavezzo, commercial vice president of Nuvei América Latina, the fact that Paymentez had 2,000 companies as clients was essential for the acquisition to be successful. The payment company has thus expanded its operations in Brazil.

The Canadian company facilitates payments with 150 fiat currencies, cryptocurrencies, and intends to further consolidate its position in Brazil, emphasized the vice-president of Nuvei.

“The operation in Brazil consists of offering customers payment solutions with approximately
of 30 different options: cash, bank transfer, bank transfer, PIX, payments by
apps, vouchers and virtual wallets, to name just a few examples.

Companies that hire Nuvei can create their model of payment solutions and methods, using the global network with their own brands. According to the Canadian, its model allows companies to avoid cross-border transactions, which generate a lot of costs in time and money.

With the acquisition of Paymentez, Nuvei hopes to increase its presence in Latin America, offering solutions for gaming, mobility, tourism and cryptocurrency businesses.

This Tuesday (26), the company will be present for the first time at the E-commerce Brazil Forum, at the Transamérica Expo Center, in São Paulo, where it will present its solutions to participants.

“We want to help companies from Asia, Europe and North America reach Brazil and the region”

One of Nuvei’s ambitious plans for Latin America is to help companies that operate in other countries reach this region. Rafael Lavezzo therefore believes that payment systems will benefit more from the arrival of large companies.

“For Latin America, Nuvei intends to develop payment systems and
increasingly integrated and flexible receipts, which can serve as support for
customer expansion projects to other countries in the region or other continents.

Nuvei’s payment partners include cryptocurrency brokers FTX and Crypto.com. Additionally, the company is linked to Riot Games, Avon, Gucci, among other major brands.