Bexs Pay, which claims to be a “pioneer” in offering cross-border transactions, has entered a partnership in order to provide Brazilian consumers with convenient access to global products and services.
Bexs Pay will, from now on, be responsible for transfers via NuPay, which is Nubank’s online e-commerce payments service.
As mentioned in the update, this means Bexs Pay will be intermediating payments for Nubank’s 54 million clients.
Bexs Pay is a virtual payment provider that uses a cross-border model that connects consumers and businesses based in Brazil and across the globe.
As explained in the announcement, the platform enables Brazilian consumers to acquire international products and services and pay via local methods and currency, like credit cards, boleto and, more recently, Pix and NuPay.
Last year, Bexs Pay was reportedly the first payments provider to integrate Pix into cross-border transfers and is also the first in the international transactions sector to integrate NuPay into its payment checkout.
This means Bexs Pay will give Nubank clients access to this additional payment method when purchasing from international websites.
According to the Webshoppers survey from NielsenIQ Ebit, around 68% of Brazilian consumers made purchases via global sites in 2021, demonstrating this market’s significant potential.
Luiz Henrique Didier Jr., Bexs Pay CEO, stated:
“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.”
As noted in the update, Nubank clients using online international platform are able to make debit payments or pay in up to 24 interest-free installments via their Nubank app without having to enter their bank details or commit to contracts, which means their purchases are approved immediately.
As mentioned in the announcement,, NuPay gives consumers easy access to a secure and convenient shopping experience, eliminating the risk of fraudulent activities and expanding users’ purchasing power with new limits.
The key benefit for store owners is the incremental sales volume from the enhanced experience, greater approval rates and consumers’ increased purchasing power.
There are various other benefits as well, like simplification of operational processes and lower working capital needs with next-day settlement. The system also eliminates intermediary, antifraud tool and chargeback costs.
Retailers using this model in partnership with NuPay include major brands such as Consul, Positivo Tecnologia and Madesa Móveis.
The solution will reportedly be made available to other retailers in the next few months and can be integrated into digital commerce platforms or through API.
Bexs Pay will integrate this particular payment method into transfers with online players, including French company Worldline, which is one of Europe’s payments providers and the world’s fourth largest.
Its digital goods and services portfolio includes Booking, Emirates, Trip.com, KLM, and others.