Nov 17, 2020

EBANX and Uber partner on PIX, Brazil’s new payment system

EBANX
Uber
Latin America
Fintech
William Girling
2 min
Latin American fintech unicorn EBANX and ride-hailing app Uber have announced their partnership with PIX, a payment system launched by Brazil Central Bank
Latin American fintech unicorn EBANX and ride-hailing app Uber have announced their partnership with PIX, a payment system launched by Brazil Central Ba...

Latin American fintech unicorn EBANX and ride-hailing app Uber have announced their partnership with PIX, a payment system launched by Brazil Central Bank.

Envisioned and developed as a transformative new experience, PIX can securely facilitate payments and money transfers in seconds between individuals, companies and government organisations at any time of day and any day of the week (including holidays).

Users can initiate the process through several methods, such as using an email address, mobile phone number, QR code, taxpayer ID and more. 

Overall, PIX is conceived as a faster, safer and cheaper method of payment that makes full use of digital technology for the benefit of Brazillian citizens in their daily lives.

A developing partnership

The significance of this new system for Uber and EBANX, whose partnership has been developing for some time, is made apparent by comments from Henrik Nilsmo, CCO of EBANX:

"We truly believe that PIX will be a milestone of financial inclusion in Brazil, bringing millions of Brazilians into the digital economy. We are happy to partner with Uber for this new payment method, offering more options for Brazilians to enjoy their services, and addressing Uber's needs of payments, localization and good user experience through our solutions."

Similarly, Claudia Woods, General Manager for Uber Brazil added, “with the arrival of PIX and given the importance of the Brazilian market for Uber, we want to offer a new payment experience to our millions of users that is aligned with the objective to always provide and think of ways to make life easier through technology. 

“PIX will play an important role as it will be a more modern payment option in our platform and EBANX will give us the necessary tools for processing these payments safely."

Latin American fintech goes from strength to strength

A report from BIS entitled ‘The dawn of fintech in Latin America’ has tracked and researched the emergence of the continent as a rising player in the global financial services market.

“Fintech investment has quickly gained traction, doubling consistently every year since 2016,” it said, with alternative finance proving to be particularly exciting technologically and profitable financially.

This is good news for Latin America’s uneven shares of adults with access to a bank account. However, BIS also cautions that the destabilising effect of this accelerated innovation will need to be countenanced in order to avoid regulatory infractions or even smothering advancement.

“These institutions face a tough balancing act: they need to provide regulatory certainty that lets fintech firms flourish while making sure not to over-regulate and risk stifling innovation. In addition, central banks need to ensure that fintech firms do not pose new or additional risks to financial stability.”

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Jun 17, 2021

Tink partners with Novalnet AG for open banking payments

novelnet
Tink
Fintech
Digitalpayments
2 min
Novalnet AG will collaborate with Tink for the fintech’s payment initiation services

The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.

Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide. 

According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform. 

The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly. 

Novalnet partnership with Tink

By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. 

The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021. 

Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties. 

“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants." 

Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”

He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”

Image credit: Novalnet AG

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