(MENAFN- EIN Presswire) Zro Bank facilitates payments for foreign companies wishing to operate in Brazil
Zro Bank's Pix as a Service has received over 50 million payments from retailers, e-commerce companies and, especially, gaming and sports betting organizations
The sports betting and gaming markets grew substantially with the arrival of PIX, which made it easier to send and receive BRL payments previously made with a credit card across Brazil.” - Edísio Pereira Neto, CEO of Zro BankRECIFE, PERNAMBUCO, BRAZIL, February 6, 2023 /einpresswire.com / -- zro bank , the first multi-currency digital bank with blockchain technology in Brazil, has just reached its first billion BRL in Pix as a Service (PaaS) transactions for institutional clients. Launched in August 2022, the service has received 50 million payments mainly from gaming and sports betting organizations. With twelve national and international partnerships established since then, Zro Bank is preparing to dive deep into these two industries, which, together, should transact more than BRL 25 billion in Brazil in 2023.
“The sports betting and gaming markets grew substantially with the arrival of PIX, which made it easier to send and receive BRL payments previously made with a credit card across Brazil. But, at the same time, it has come with the great challenge for banks to have the technological structure to support the millions of payments processed with confirmations in a few seconds,” explains Edísio Pereira Neto, CEO of Zro Bank. In 2023, the projection is to reach more than BRL 10 billion in volume with over 500 million transactions. In the sports betting market, for example, each Pix transaction operated by Zro has an average ticket of BRL 20.
Zro Bank filed an application with Bacen to operate as an authorized payment institution. Now, it also facilitates payments for foreign companies wishing to operate in Brazil following eFX regulations and planning to integrate the crypto market with the games market, with strategic partnerships focusing on the world of tokenization.
The technology works as a multibank gateway, integrating its own API with that of four other traditional banks for instant payments and receipts with dynamic QR Code generation. These banks offer 100% liquidity 24x7, so that customers do not have any problems during peaks, which can exceed more than 30,000 PIX transactions per minute.
In addition to high availability, Zro Bank also invested in automating currency exchange deals for foreign companies and in generating customizable reports with automatic reconciliation to make life easier for the finance department of companies that need to operate in hyperscale. According to Edísio, the combination of these facilities makes the fintech's solution one of the most complete in the Brazilian market. Prepared to attract foreign clients, the fintech firm will attend ICE London 2023, one of the largest games fairs in the world. It will be held in the capital of England between the 7th and 9th of February.
Sérgio Massa, chief operating officer at Zro Bank, says that there have been talks with new betting sites, game developers, and retailers and e-commerce corporations registering to start operations: 'We think strategically about how to serve these players with low cost and high availability. We have reduced our fees by up to 50% and innovated not only with a multibank gateway, but with APIs for accepting cryptocurrencies as payment and automated currency exchange deals, which ensures lawfulness and less risk exposure for operations conducted by foreign companies,” the executive says. Of the twelve current partners, three are international and one offers end customers payment in cryptocurrencies.
In November 2021, the Crypto as a Service solution was released. It consists of customized APIs for other fintech firms wishing to offer cryptocurrency purchase, sale or custody within their websites and applications. This innovation earned Zro Bank an award in the 2022 edition of Banking Transformation, one of the main awards in the financial sector, in the Best Solution for Financial Marketplaces category. Besides, it topped the Top Scale Up Brazil Ranking of 100 Open Startups.
About Zro Bank:
Launched in September 2020 as the first digital bank in northeastern Brazil (based in Recife), Zro Bank is the first cryptobank or multicurrency bank in the country. This means that, in addition to the traditional services of a bank, clients can, in the same account, pay and receive in BRL or crypto assets, always with immediate liquidity.
Zro Bank was the first institution in Brazil to implement, with VISA, bitcoin cashbacks for transactions concluded in its card, further developing the client retention/points industry in the country.
Featuring among the five largest fintech firms in Brazil in the 100 Open Startups ranking of 2020, it was appointed, in 2021, as one of the most promising finance startups by the 100 Startups to Watch ranking.
More than one million downloads of app have been completed on the App Store and Google Play.Marcelo Dias
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