Pix

Brazil’s Banks Modernizing Core Banking, Payment Services

Retrieved on: 
Wednesday, December 13, 2023

Banks in Brazil are opting for more responsive core banking and payment platforms to fend off increasing market competition, according to a new research report published today by Information Services Group ( ISG ) (Nasdaq: III ), a leading global technology research and advisory firm.

Key Points: 
  • Banks in Brazil are opting for more responsive core banking and payment platforms to fend off increasing market competition, according to a new research report published today by Information Services Group ( ISG ) (Nasdaq: III ), a leading global technology research and advisory firm.
  • Banks are modernizing by migrating their legacy systems to the cloud to gain agility and flexibility and to better meet the needs of their customers, ISG says.
  • “The banking ecosystem is becoming more robust in Brazil with an increasing depth and variety of services,” said Owen Wheatley, lead partner, ISG Banking and Financial Services.
  • The 2023 ISG Provider Lens™ Digital Banking Services report for Brazil evaluates the capabilities of 30 providers across three quadrants: Core Banking Technology and Integration Services, Payment Modernization Technology Services and Banking Business Process as a Service.

Brazil Buy Now Pay Later Business and Investment Report 2023-2030: BNPL Schemes are Expanding their Presence in the Offline Market with Pix Payment Integration - ResearchAndMarkets.com

Retrieved on: 
Friday, November 17, 2023

BNPL payments in Brazil are expected to grow by 21.3% on an annual basis to reach US$6.2 billion in 2023.

Key Points: 
  • BNPL payments in Brazil are expected to grow by 21.3% on an annual basis to reach US$6.2 billion in 2023.
  • BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 13.7% during 2023-2028.
  • The BNPL payment industry in Brazil has recorded strong growth over the last four quarters, supported by increased ecommerce penetration.
  • However, the integration of BNPL schemes with the Pix payment system also ensures that the payment method is available for retail purchases across the country.

Nu Holdings Ltd. Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 14, 2023

Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Third Quarter 2023 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Third Quarter 2023 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • Below are the Q3’23 performance highlights of Nu Holdings Ltd.:
    Customer growth: Nu added 5.4 million customers in Q3’23 and 18.7 million year-over-year (YoY), reaching a total of 89.1 million customers globally by September 30, 2023.
  • Nu is the fourth-largest financial institution by number of customers in the country, according to Brazilian Central Bank data.

Brazil's Pix Revolutionizes Digital Payments Landscape and Inspires LatAm Growth

Retrieved on: 
Wednesday, December 6, 2023

CURITIBA, Brazil, Dec. 6, 2023 /PRNewswire/ -- In Kano, Nigeria, a student hops on a bus to meet friends after school. In Bangalore, India, a business owner refills a prepaid cell phone. In Belo Horizonte, Brazil, a football fan grabs a quick bite outside the stadium while waiting for the game to kick off. Unbeknownst to them, they are all integral players in the ongoing instant payments revolution. People have seamlessly embraced various instant payment methods, with NIP in Nigeria, UPI in India, and Pix in Brazil emerging as the standout choices for their daily transactions.

Key Points: 
  • Projections indicate that this figure will soar to 511.7 billion by 2027, reflecting an impressive compound annual growth rate of 21.3%.
  • "Pix is considered UPI's young brother," says Paula Bellizia, President of Global Payments at EBANX.
  • And just like India inspired Brazil, Pix is now spreading the idea of instant payments across Latin America.
  • In 2020, instant and real-time payments had only a 16% share of digital commerce in Latam.

Brazil Buy Now Pay Later Business and Investment Report 2023: BNPL Payments are Expected to Grow by 21.3% to Reach $6.2 Billion in 2023 - Forecasts to 2028

Retrieved on: 
Thursday, November 16, 2023

BNPL payments in Brazil are expected to grow by 21.3% on an annual basis to reach US$6.2 billion in 2023.

Key Points: 
  • BNPL payments in Brazil are expected to grow by 21.3% on an annual basis to reach US$6.2 billion in 2023.
  • BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 13.7% during 2023-2028.
  • The BNPL Gross Merchandise Value in the Brazil will increase from US$5.1 billion in 2022 to reach US$11.8 billion by 2028.
  • The BNPL payment industry in Brazil has recorded strong growth over the last four quarters, supported by increased ecommerce penetration.

Zoop Receives License from Brazilian Central Bank as Licensed Payment Institution

Retrieved on: 
Wednesday, November 8, 2023

SÃO PAULO, Nov. 8, 2023 /PRNewswire/ -- Zoop, the leading fintech in technology for financial services in the Brazilian B2B market, received authorization from the local Central Bank on Tuesday, October 31, to act as a Payment Institution (Instituição de Pagamento (IP)), as an electronic currency issuer (EMI). The granting of the license was published in the Official Gazette of The Union.

Key Points: 
  • SÃO PAULO, Nov. 8, 2023 /PRNewswire/ -- Zoop, the leading fintech in technology for financial services in the Brazilian B2B market, received authorization from the local Central Bank on Tuesday, October 31, to act as a Payment Institution (Instituição de Pagamento (IP)), as an electronic currency issuer (EMI).
  • The IP license opens up new business prospects for Zoop and strengthens its market position.
  • The company now has direct access to the Brazilian Payment System (SPB) and the Instant Payment System (SPI), which will enable the development of new financial services infrastructure solutions.
  • "By obtaining this license, Zoop will be able to offer more comprehensive and personalized financial solutions to customers and partners, meeting growing market demands.

Pix Will Likely Replace Credit Cards In Brazil

Retrieved on: 
Thursday, November 2, 2023

The latest Pix by the Numbers report covers data through Q3 2023, and shows Pix volume continuing to surge.

Key Points: 
  • The latest Pix by the Numbers report covers data through Q3 2023, and shows Pix volume continuing to surge.
  • Innovation is Driving Pix Growth: Pix Credit, and Cross Border Pix payments are just two examples of how the Brazilian market is finding new ways to leverage Pix.
  • Pix Credit is just one example where financial institutions can earn comparable revenues of a credit product and still settle payments instantly.
  • Credit card networks, processors and issuers in Brazil are all re-positioning their business to figure out ways to stay relevant as Pix continues to surge.

Itaú Unibanco and Inswitch introduce 'Pix no mundo': the innovative solution for cross-border payments in Latin America

Retrieved on: 
Tuesday, October 24, 2023

In August 2023 alone, 3.8 billion transactions were conducted through this system.

Key Points: 
  • In August 2023 alone, 3.8 billion transactions were conducted through this system.
  • This partnership between Banco Itaú and Inswitch is driving the expansion of Pix throughout Latin America, enabling more individuals and businesses to conduct online financial transactions quickly, securely, and efficiently.
  • "Through the launch of Pix no Mundo in collaboration with Banco Itaú, Brazilians living and traveling throughout Latin America can enjoy the payment experience offered by Pix.
  • With Pix no Mundo, the evolution of cross-border payments is a reality, providing convenience, efficiency, and savings to all those involved in the process.

Likewise Introduces Pix - The World's First Personal Entertainment Companion

Retrieved on: 
Thursday, October 5, 2023

BELLEVUE, Wash., Oct. 5, 2023 /PRNewswire/ -- Likewise, the Bill Gates-backed personalized entertainment discovery platform with over 6 million registered users, proudly introduces Pix, the world's first personal entertainment companion. Pix, a free service from Likewise, helps users find their next favorite TV show, movie, book, or podcast. Anyone can send Pix a question by texting (877) TEXTPIX (877-839-8749) or by sending an email to [email protected] and receive entertainment recommendations within seconds. Pix can also answer questions on Likewise.com, in the Likewise mobile app, and even on the Likewise connected TV app, where users can see their watchlist and stream instant recommendations directly on their TV. 

Key Points: 
  • Powered by AI, Pix Solves the Everyday Challenge of Entertainment Content Discovery by Delivering Personalized Picks and Insights for TV Shows, Movies, Books, and Podcasts
    BELLEVUE, Wash., Oct. 5, 2023 /PRNewswire/ -- Likewise , the Bill Gates-backed personalized entertainment discovery platform with over 6 million registered users, proudly introduces Pix , the world's first personal entertainment companion.
  • Anyone can send Pix a question by texting (877) TEXTPIX (877-839-8749) or by sending an email to [email protected] and receive entertainment recommendations within seconds.
  • Likewise is thrilled to introduce Pix, a true personal entertainment companion that is available anytime and anywhere to help all of us find our next favorite TV show, movie, book, or podcast," said Ian Morris, CEO of Likewise.
  • Pix responds to entertainment questions via email, text, connected TV devices, the Likewise mobile App, and on Likewise.com.

Leaders from the U.S. Southern Command, Empresas CMPC and Grupo Mariposa, and the Banco Central do Brasil's Pix initiative are the winners of the 28th BRAVO Business Awards

Retrieved on: 
Wednesday, September 13, 2023

"This year's group of honorees represent leadership, dedication, and outstanding expertise in their field -- all critical to ensuring a more prosperous future for the region," said Susan Segal, President & CEO, Americas Society/Council of the Americas. "They also showcase the importance of elevating the ties between the U.S. and Latin America to advance on our common goals for the sustainable development of the Western Hemisphere."

Key Points: 
  • As the champion behind the groundbreaking initiative, Roberto Campos Neto, Governor, will accept the award on behalf of the Banco Central do Brasil.
  • Empresas CMPC CEO, Francisco Ruiz-Tagle, will be recognized for his dynamic leadership directing the company's growth and industry-leading sustainability practices.
  • The BRAVO Business Awards will be preceded by the Council of the Americas Symposium, Latin America's premier engagement and dialogue platform.
  • Luis Miguel Castillo, Chairman of Grupo Mariposa, will receive the BRAVO Visionary Business Leader of the Year Award.