BC Regulates The Environment That Enables Pix By Approximation
Weekly news up to Wednesday, 7th of August 2024.
👀 NEWS HIGHLIGHT
The Central Bank published BCB Resolutions No. 406 and 407 detailing the operation of the journey without redirection, the rules of participation and the responsibilities of the institutions involved, as well as establishing new minimum share capital and net worth requirements for institutions that choose to offer this service.
As announced at the beginning of July, this is an improvement that simplifies the payment initiation journey with Pix, making it possible to reduce the number of steps in online payments, as well as making it possible to offer Pix in digital wallets, including for proximity payments, using near-field communication (NFC) technology.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ PayRetailers promove Daniel Moretto a diretor na América Latina.
⭐️ Colombian Paytech Zulu reaches 400 customers in more than 50 countries.
⭐️ Nuvei agrees to acquire licensed Payment Institution in Brazil.
⭐️ Mexico FinTech Stori Raises $212 Million in Equity, Debt.
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BRAZIL
Rede and Itaú Unibanco are launching a new solution that will change in-person Pix transactions. Starting in October, Rede's card machines will accept Pix payments via NFC technology, removing the need for banking app access.
Pluggy, specializing in data collection, classification, and enrichment within the Open Finance framework, has started offering batch payments to its clients. This service allows companies to consolidate all payments to various creditors through a single Pix transaction.
Google Wallet, already popular for storing credit and debit cards, buying transport tickets, and adding documents, now supports Pix payments. This new feature will initially be available to a select group of users and will soon be rolled out to everyone.
Monkey Exchange makes rounds with B3 keeping an eye on book-entry duplicates. Monkey Exchange, which operates a marketplace for advancing receivables from suppliers of large companies, has just raised R$ 67 million in a funding round led by L4, the corporate venture capital fund of B3.
ARGENTINA
MercadoLibre Rally Makes It Latin America’s Most Valuable Firm. Shares of MercadoLibre Inc., the giant Latin American e-commerce and payments firm, soared after second quarter earnings blew past analyst estimates, bucking a rout in technology companies and regional peers.
COLOMBIA
ABC Fund invests €1.1m in Colombia's MiCreditoYa Microfinanciera SAS. The investment will enable MiCreditoYa to expand its loan portfolio, potentially adding 2,500 loans to farmers in Nariño on to its loan book over the next two years.
MEXICO
Dive into this article by Mexico Business featuring an interview with CEO Juan Pablo Ortega to discover how Yuno is revolutionizing the payment industry.
Mexican FinTech Crediko raises $2.5M. This investment will allow Crediko to pivot its business model for the 2024-2025 school year, generating important insights both in its algorithm and model. For the 2025-2026 school year, a significant increase in loan placements, talent acquisition, and product improvement is expected.
In just six months, Nubank managed to triple its deposit business in Mexico. Surpassing some of the traditional banks operating in the country, amidst a rate war initiated by several institutions. A substantial part of this growth is due to the rate war and the yields offered to individuals.
Mexican FinTech Aviva raises $5.5m. The new investment will be used to build out Aviva's product suite, its partnership distribution model, and its network of kiosks in medium and small cities. By the end of the year, it plans to expand to over 50 cities.
A new cross-border payments infrastructure will enable remittances between the US and Mexico via 140 community banks in rural areas. The new corridor is being developed by the Interledger Foundation, an organisation dedicated to the creation of an open, interoperable payment network and the People’s Clearinghouse, which works with community banks and credit unions in Mexico.
DEUNA, the unified platform to simplify global payments, announced a new strategic partnership alliance with Kount, an Equifax Company, the one-stop fraud prevention system.
ECUADOR
Digital Wallet PeiGo now accepts In-Person payments with Visa PeiGo via Google Wallet and Google Pay in Ecuador. This advance highlights the commitment of PeiGo and Minsait Payments to be gateways to banking in Ecuador.