APACPAY, a payments firm headquartered in Singapore, has joined forces with its Brazilian counterpart PagBrasil.
The tie-up will offer customers of APACPAY access to local payment options in Brazil, which is said to account for over 40% of e-commerce revenues in Latin America.
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PagBrasil’s service suite includes payment processing, currency exchange, cross-border money transfers, intermediation and fraud prevention.
Among the solutions provided by the firm are Boleto Flash, PEC Flash, local debit cards, and domestic credit cards.
Meanwhile, APACPAY offers exposure to more than 200 alternative payment methods across the globe.
The firm also addresses security concerns with its risk management service i-RiskCloud.
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By GlobalDataThe risk management too l leverages big data and artificial intelligence to counter fraud.
PagBrasil co-founder and co-CEO Ralf Germer said: “Brazil’s e-commerce market has not ceased to attract international attention in the past few years and is now back at double-digit growth rate.
“However, the market’s particularities in terms of payment methods, as well as the country’s regulatory framework and its overly complex tax system, can restrict market entry.
“This partnership is a logical step towards enabling merchants to expand to Brazil more easily. APACPAY’s extensive merchant network can now efficiently sell in Brazil, offering local payment methods through PagBrasil’s payments platform.”
