Bexs Pay, a pioneer in cross-border transactions, has just sealed yet another partnership to provide Brazilians with easier access to international products and services.
Bexs Pay will, from now on, be responsible for transactions using NuPay, Nubank’s online e-commerce payments solution. This means Bexs Pay will be intermediating payments for Nubank’s 54 million customers.
Bexs Pay is a digital payment provider that employs a cross-border model that connects people and companies in Brazil and around the world. In practical terms, the platform allows Brazilians to consume international products and services and pay using local methods and currency, such as credit cards, boleto and, more recently, Pix and NuPay.
In 2021, Bexs Pay was the first payments provider to integrate Pix into cross-border transactions and is now the first in the international transactions industry to integrate NuPay into its payment checkout. This means Bexs Pay will give Nubank customers access to this additional payment method when purchasing from overseas websites. According to the latest Webshoppers survey from NielsenIQ Ebit, 68% of Brazilian shoppers made purchases on international websites in 2021, clearly demonstrating this market’s potential.
“We are driving an online shopping revolution, giving millions of Nubank customers the ability to go shopping with greater convenience and security. We believe the partnership will drive an increase in the number of people accessing international products and services, further democratizing cross-border transactions”, said Luiz Henrique Didier Jr., Bexs Pay CEO.
Now, Nubank customers using online international platform can make debit payments or pay in up to 24 interest-free installments directly from their Nubank app without having to provide their bank details or sign contracts, which means their purchases are approved instantly. Additionally, NuPay gives people access to a more secure and convenient shopping experience, eliminating the risk of fraud and expanding users’ purchasing power with additional limits.
The major benefit for store owners is the incremental sales volume from the improved experience, higher approval rates and consumers’ increased buying power. There are other advantages as well, such as simplification of operational processes and lower working capital requirements with next-day settlement. The system also eliminates intermediary, antifraud tool and chargeback costs.
Retailers already using this model in partnership with NuPay include heavyweight brands like Consul, Positivo Tecnologia and Madesa Móveis, among others. The solution will be made available to other retailers over the coming months and can be directly integrated into e-commerce platforms or via API. Bexs Pay will integrate this payment method into transactions with global online players, including French company Worldline, Europe’s leading payments provider and the world’s fourth largest. Its digital goods and services portfolio includes Booking, Emirates, Trip.com, KLM, and others.