Paysecure Enters Brazilian Market Embraces Pix Payments
Paysecure’s expansion strategy includes the acquisition of a local Brazilian company, a move that signifies the company’s commitment to establishing a strong foothold in the region. While details of the acquisition remain undisclosed, Paysecure has also forged a significant partnership with a local fintech firm, setting the stage for its market entry. This dual approach underscores Paysecure’s ambition to facilitate the global expansion of its existing clientele into Brazil’s burgeoning market, as well as to assist Brazilian businesses in reaching international markets.
The digital payments sector in Brazil is witnessing rapid growth, driven by the rise of e-commerce, mobile payments, and contactless transactions. With digital wallets gaining popularity among Brazilian consumers, the total transaction value in the digital payments market is projected to hit USD 170.10 billion in 2024, with an expected growth rate of 10.51% annually, culminating in USD 253.70 billion by 2028. PIX, in particular, has seen a 14% increase in usage between January 2020 and November 2022, with 71% of the Brazilian population utilizing the service by January 2022.
Paysecure, known for its comprehensive suite of payment processing tools, including an orchestration platform and a User Trust Score, offers a one-stop solution for businesses. The company facilitates integration with various Payment Service Providers (PSPs) and acquirers across multiple industries. Through its recent collaborations, including a notable partnership with Quickbit in October 2023, Paysecure continues to enhance its service offerings, emphasizing its role as a leading global payment company in the ever-evolving digital transaction space.
