A Canadian company that facilitates payments with cryptocurrencies arrives in Brazil

A Canadian company that makes it easy for businesses to receive payments in cryptocurrency is now coming to Brazil. In this way, another listed 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 internet shopping has only grown. A recent study by consulting firm NielsenIQ Ebit reports that Brazilian e-commerce saw a 27% increase in 2021 alone.

Aware of the movement, Nuvei, a Montreal-based company, arrived in Brazil in 2021, having acquired a local payment company. With technology solutions for global payments, the company hopes to expand its focus throughout Latin America.

A company that facilitates payments with cryptocurrencies from Canada arrives in Brazil and promises to expand

In September 2021, global payments company Nuvei (Nasdaq: NVEI) (TSX: NVEI) announced the purchase of Paymentez. This Miami-based fintech serves all of Latin America and offers online games, mobile apps, and other companies.

For Rafael Lavezzo, commercial vice president of Nuvei América Latina, the fact that Paymentez has 2,000 corporate customers was fundamental to the acquisition’s success. In this way, the payment company has extended its operations to Brazil.

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

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

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

With the acquisition of Paymentez, Nuvei hopes to grow 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 Brazil E-commerce Forum, at the Transamérica Expo Center, in São Paulo, where it will present its solutions to the participants.

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

One of Nuvei’s ambitious plans for Latin America is to help companies operating in other countries reach this region. In this way, Rafael Lavezzo believes that payment systems will have more advantages with newcomers from large companies.

“For Latin America, Nuvei intends to develop payment systems and
increasingly integrated and flexible receipts that can be used as support
customer expansion plans to other countries in the region or other continents.

Among Nuvei’s payment partners are cryptocurrency exchanges FTX and Crypto.com. Additionally, the company is tied to Riot Games, Avon, Gucci, among other top brands.

Megan Schneider

"Typical zombieaholic. General twitter fanatic. Food fanatic. Gamer. Unapologetic analyst."

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