– The tool, which operates 24/7, focuses on international money transfer companies and is also expected to reach e-commerce and digital wallets.
SÃO PAULO, November 6, 2023 /PRNewswire/ — BS2the first Brazilian digital bank (banco digital brasileiro) specialized in businesses, launches a single solution which allows businesses and individuals to have access to real-time international payments and receipts Since Brazil abroad and vice versa, BS2 easy payment
“With the offers that exist on the market today, the cost for the final beneficiary remains very high,” says Rodrigo Moreira, executive director of products at BS2. “Our solution solves the problem of those who want to send money from Brazil abroad, or from abroad to the Brazilian market, but do not want to pay exorbitant amounts to do so. We took advantage of our technological vocation and combined the best of our payment architecture with what the new foreign exchange framework made possible, in a completely innovative solution,” he adds.
In a cross-selling exchange and cash management offerwithin the as a service model, BS2 Easy Pay aims to serve international money transfer companies that have a money transfer service – domestic money transfers from Brazil abroad and vice versa – via a reais account for non-residents, without the need to convert the Real (BRL) currency. The bank can thus credit the amount of the payment directly to the beneficiary’s current account.
For the executive director of exchanges at BS2, Carlos Eduardo Andrade Jr.opening a non-resident account was made easier by the Brazilian exchange rate. “By reducing remittance costs, we are making it easier for fintechs to enter the foreign exchange sector, providing greater efficiency and agility for the operation of these businesses,” he comments. The bank aims to serve e-commerce businesses, marketplaces and digital wallets. “With this we respond to the international and national market, putting into practice the international use of Real (BRL),” he says.
In addition to the facilities already listed, another advantage of BS2 Easy Pay is that it works 24/7, regardless of time zone of the country of sending or destination
According to a World Bank survey, in 2023, the digital remittance market will exceed 50% of the total remittance volume for the first time in history, with a global estimate of transactions. 387 billion US dollars.
“This is the size of the market that the BS2 solution can operate in and with the World Economic Forum’s proposal to reduce the cost of remittances, the global market will attract more and more countries with real-time payments and solutions allowing this, as is currently the case of BS2 Easy Pay”, concludes Andrade Jr.
About BS2
BS2 is a digital bank offering various financial and technology solutions for businesses. It offers a complete self-service platform, with a series of integration possibilities, to automate the financial routine of small and medium-sized businesses in a unified, simple and bureaucracy-free journey.
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SOURCE BS2 Bank
