Singapore-based global payments company Thunes has teamed up with Brazil-based international digital payments platform Bexs Banco to bring real-time payments to Brazil. The partnership brings increased speed and transparency to inbound transactions for Brazilian recipients through Thunes, and the more than 112 million Pix users will receive instant payments and interoperability between Brazilian banks and FinTechs. Pix was developed by Brazil’s Central Bank, and Pix’s contactless payment platform is behind more than 1 billion transactions every month — about nine out of every 10 bank transfers. Faster payments to Airbnb hosts in Brazil from visiting renters who are sending their payment from another part of the world, and we hope further to increase Brazil’s overall trade relations with the world.
Forecasts point to global cross-border transactions reaching $156 trillion in 2022, including about $150 trillion for business-to-business (B2B) transactions. Latin America is expected to take up a significantly larger share of this total in the coming year. Thunes covers more than 16 countries across Latin America, including Argentina, Colombia, Mexico, Peru, and Uruguay. Brazilian-based buy now, pay later (BNPL) startup TruePay announced the end of a Series A funding round that brought in $32 million, which the company plans to use primarily to hire more employees.