A new chapter in LATAM Fintech
Rapyd has announced a partnership with Belvo, the leading Open Finance data and payment platform in Latin America. By combining Rapyd’s extensive global payments network with Belvo’s open banking expertise, the partnership will enable businesses across Latin America to deliver seamless open financial experiences to their customers. This collaboration aims to provide businesses and developers with unparalleled access to data, payment networks and technologies, and streamline the way they access and interpret data, send, receive and manage funds in the LATAM market.
The rise of open banking has provided a significant opportunity for fintech companies such as Rapyd and Belvo to create innovative solutions that meet the diverse needs of the region. Already serving over 150 customers in Brazil, Mexico and Colombia, including major financial institutions, neobanks, lenders and ERP companies, Belvo is dedicated to helping companies leverage open financial data and payments to create more secure, efficient and inclusive products on Latin America. Rapyd already serves some of LATAM’s leading names such as Hotmart, Rappi and Uber, and its unrivaled global payment network allows businesses to access a wide range of payment methods, increase market reach and streamline their financial operations in a seamless and efficient manner. Combining both companies’ best-in-class capabilities will unlock significant synergies in terms of market movements, 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 choose to shop on mobile devices and digital banking gains traction, companies must adapt and offer more varied payment options. Rapyd’s comprehensive platform allows businesses to accept and send payments to virtually anyone – faster, cheaper and easier. Rapyd customers 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 meet the growing demand for digital payments while promoting 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 with Rapyd will further strengthen our commitment to helping businesses leverage open financial data and payments in Latin America. We are excited to partner with Rapyd and leverage the potential of our combined expertise to redefine fintech in the region.”
