Monneo Begins Latin American Expansion with Support of PIX in Brazil

In a move that reaffirms the company’s global reach, virtual IBAN and corporate account provider, Monneo, is delighted to announce the launch of its service in Brazil as part of its plans to serve Latin American customers who require payment solutions. Through its launch in Brazil, Monneo’s clients can now send and receive money via the country’s most popular payment channels, including PIX, the electronic payment system currently used by 62% of the nation’s population. The rapidly growing solution, which was first introduced to the country in November 2019, offers Brazilians a genuine alternative to more time-honoured payment systems.

Alongside its support of PIX, Monneo’s expanded service will help clients to execute payments in ways that Brazilians are most accustomed to. The company’s true end-to-end solution provides eCommerce merchants with a viable alternative to a myriad of traditional financial services. What’s more, through the launch, Monneo is now able to give its clients greater access to markets in Latin America for accepting payments on their websites, as well as for paying out content creators, affiliates and contractors. With the company’s service, online merchants can accept several payment methods, including credit cards, as well as platforms popular in the region, such as PIX and PicPay.

Monneo already supports local bank transfers across the Latin American region. With its new launch, the company is now providing online merchants and eCommerce businesses with more local payment methods at their disposal.

In the coming months, Monneo will continue to launch local payment methods in nations within Latin America. Following its launch in Brazil, the company will expand solutions Columbia, Chile and Mexico.

Speaking on the launch, Lili Metodieva, Managing Director of Monneo commented: “We’re very excited to bring PIX pay-ins and pay-outs, as well as other local payment methods to customers doing business in Brazil, as part of our plans to grow our service across all corners of the globe. Our solution will soon help online merchants and eCommerce businesses operating within Latin America to dramatically streamline the local and international payment process.”