Ebury, the fintech company specializing in transactions for SMEs, has announced an expanded partnership with Nium, a leader in real-time global payments. The partnership follows Ebury's regulatory approval of its acquisition of Brazilian fintech Bexs in October 2023, which includes Bexs Banco and Bexs Pay. Operating under the name Ebury Bank in Brazil, the institution reflects the local FX banking license held in the country.

Integration of Nium's Cross-Border Payments Solution with Ebury

Together, Nium and Ebury aim to facilitate fast, reliable, and affordable cross-border payments to and from Brazil, leveraging Nium's global payments infrastructure. This collaboration builds upon their existing partnership in Europe, where Ebury utilizes Nium's infrastructure for international supplier and payroll payments.

Luiz Henrique Didier Jr., the Executive Director at Ebury Bank in Brazil, expressed enthusiasm for the partnership: “Our mission is to connect Brazilian consumers to the world and the world to Brazil’s consumer ecosystem. And the best way to do this is to use high-technology solutions and global coverage, such as those offered by Nium.”

Nium's cross-border payments solution will be integrated into Ebury's payment flows to enhance the speed, efficiency, and cost-effectiveness of international transactions. Additionally, the partnership will extend Brazil's connectivity to new emerging markets. Nium's payment network currently supports payouts in over 100 currencies to more than 190 countries, with 100 of them in real-time.

Brazil's Digital Payment Market Potential and Innovation Leadership

Nium, focusing on LATAM as a strategic growth market, marked its formal entry into the region with the opening of a local office in Sao Paulo in August 2023. The partnership with Ebury represents Nium's first bank partnership in Brazil.

Brazil's digital payments market is projected to reach a total transaction value of US $170 billion in 2024, with over 21 million SMEs and an estimated population of over 215 million people, according to government statistics.

Christina Hutchinson, the General Manager of Brazil and the Head of Business Development of LATAM at Nium, highlighted the potential for Brazil to lead in digital payment innovation. She emphasized the significance of the partnership in providing more affordable and efficient payment solutions for Brazil's underbanked SMEs and consumers.