Bnext, a Spain based neo-bank that has raised over €22 million in funding, has partnered with Rapyd, a Fintech as a Service company, to expand services across Latin America. According to a release, Bnext customers will be able to make deposits into their accounts at 30,000 locations across Mexico – the first country where it will launch. Later, Bnext will expand interbank deposits via Rapyd’s payments network. Rapyd’s platform will allow cash collection using their payments infrastructure. The cash deposits can be easily made at all Rapyd Point of Sale systems throughout Mexico.
“Rapyd is well-suited to support Bnext as they continue to expand their operations and active users in Mexico and Latin America given the multi-country reach of our network. One differentiator of our partnership program is speed to market, we’re proud that our first service option with Bnext was deployed in less than a month,” commented Sarel Tal, VP EMEA for Rapyd. “ This is a powerful partnership in one of the most promising markets for banking services in Latin America, and we are thrilled with the opportunity to improve payment experiences for Bnext’s customers in Mexico.”
Bnext says by leveraging the Rapyd platform it can rapidly expand across different geographies without having to integrate complex solutions.
Cristian Huertas, Country Manager Mexico for Bnext, stated:
“Mexico is the first country in our international expansion strategy, and we needed to partner with a company that offered the payment service locally and had a global presence and support for expansion to additional countries,” said Cristian Huertas, Country Manager Mexico for Bnext. “Thanks to our partnership with Rapyd, Bnext will be able to offer our customers a better and more reliable experience through a single API, a single contract, and a single reconciliation.”
The Rapyd platform aims to bring together 900-plus payment methods in over 100 countries. Rapyd’s investors include Stripe, General Catalyst, Oak FT, Tiger Global, Durable Capital, Target Global, and TaL Capital.