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Noda takes open banking network to Brazil

Source: Noda

Noda is expanding its open banking network to Brazil.

The global open banking and payments provider, Noda, already operates in Europe, the UK and Canada.

Merchants that partner with Noda from any jurisdiction can now access cross-border multichannel payment services, unified reconciliation, single onboarding process, and instant banking and money transfers across Brazil, Europe, the UK and Canada. The expansion enhances the convenience for merchants, enabling them to conduct business seamlessly across different regions.

“Adding Brazil to our list is especially valuable for merchants that aim for global reach,” said Michael Bystrov, Chief Revenue Officer at Noda. “We are committed to doing everything possible to ensure their convenience and success.”

Currently, Brazil is using the Pix network, an IP scheme that enables users - people, companies and government entities - to send and receive money instantly. However, while there are many Pix providers, only few can allow access to European markets. Similarly, European payment providers rarely offer Pix payments across Brazil. Noda is stepping in to bridge this gap.

Meanwhile, open banking payments, which are also provided by Noda, have seen rapid adoption in Europe, offering instant account-to-account transactions without card networks involved. Users can pay via their trusted bank’s interface without having to manually enter lengthy card details.
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With Noda’s advanced Open Banking API, online businesses can easily integrate direct bank payments, offering their customers seamless payments with lower fees. We partner with 16,500 banks across 27 countries, spanning over 30,000 bank branches. Apart from open banking, Noda also assists online merchants with end-user KYC, payment processing, LTV forecasting and UX optimisation.

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