Rapyd has announced a partnership with Belvo, the Open Finance data and payments platform in Latin America.
By combining Rapyd’s extensive global payments network with Belvo’s expertise in open banking, the partnership will “enable businesses across Latin America to deliver seamless open finance experiences to their customers.”
This collaboration aims “to empower businesses and developers with unparalleled access to data, payment networks and technologies, streamlining the way they access and interpret data, send, receive, and manage funds in the LATAM market.”
The rise of open banking has “presented a significant opportunity for fintech companies like Rapyd and Belvo to create innovative solutions that cater to the diverse needs of the region.”
Belvo, already “serving over 150 clients in Brazil, Mexico, and Colombia, including large financial institutions, neobanks, lenders and ERP companies, is dedicated to helping companies leverage open finance data and payments to create more secure, efficient, and inclusive products in Latin America.”
Rapyd already “serves some of LATAM’s leading names such as Hotmart, Rappi and Uber, and its unrivaled global payments network allows companies to access a vast array of payment methods, increase their market reach and streamline their financial operations in a seamless and efficient manner.”
Combining both companies’ capabilities will “unlock significant synergies in terms of go-to-market motions as well as product development and solutions for our customers.”
According to a report by Americas Market Intelligence (AMI), the LATAM fintech sector has been “growing at an accelerated pace, with digital payments expected to reach $802 billion by 2025.”
As more consumers opt “for shopping on mobile devices and digital banking gains traction, businesses need to adapt and offer more diverse payment options.”
Rapyd’s comprehensive platform “allows businesses to accept and send payments to virtually anyone—faster, cheaper, and easier.” Rapyd clients see “an average of 196% return on investment within 36 months and spend 70% less time managing payments, according to Forrester.”
With this partnership, Belvo and Rapyd aim “to address the growing demand for digital payments while fostering a culture of fintech innovation in Latin America.”
Jason Kumpf, Rapyd’s Global Head of Partnerships, says:
“In a rapidly evolving fintech landscape, our partnership with Belvo enables us to provide businesses with the tools they need to succeed in the LATAM market. By combining our strengths, we will deliver secure, fast, and innovative payment solutions to drive growth in the region and make the most of the open banking revolution.”
Pablo Viguera, Co-founder and CEO of Belvo, says:
“Joining forces with Rapyd will further strengthen our commitment to helping businesses leverage open finance data and payments in Latin America. We’re excited to collaborate with Rapyd and harness the potential of our combined expertise to redefine fintech in the region.”
As noted in the update, Rapyd’s Partnership Program is designed “to enable our partners to monetize fintech to grow their ARPU while meeting global growth ambitions.”
Rapyd claims it “provides the only fintech partner program with an all-in-one stack of payment and fintech products, marketing resources and user support and resources.”
Rapyd makes it possible “to grow your revenue and platform capabilities to more users, customers and sellers anywhere you do business.”
With offices worldwide, including Tel Aviv, Dubai, London, Iceland, San Francisco, Miami and Singapore, they know “what it takes to make cross-border commerce as easy as being next door. Rapyd simplifies payments so you can focus on building your business.”