Disburze, a New York City based Paytech company that is rewiring how business payments are made and Banco Rendimento, one of the leading institutions in Foreign Exchange operations in Brazil announced today the launch of its business-to-business service to Brazil.
The new service enables businesses to seamlessly settle invoices in Brazilian Reais. Disburze also aims to allow Brazilian based businesses to move funds out of Brazil and into its growing payment network around the world in the future.
Nagarajan Rao, CEO of Disburze stated: “We are excited about the partnership with Banco Rendimento. Businesses now have a solution that addresses their pain points when making businesses payments to and out of Brazil. Disburze is helping businesses compete in the global payments landscape by providing real time foreign exchange rates, transparent service levels, and access to emerging market network.”
Roger Ades, Product Director from Banco Rendimento added: “We are very thrilled to start this service with Disburze as it will increase our international payments offerings and simplify the way corporations make their business payments into Brazil. According to Guilherme Quintino, International Manager, this partnership comes as an alignment of Banco Rendimento’s International strategy which also cares for Innovation and Technology attending the needs of a fast changing global marketplace”
Brazil has the world’s seventh largest economy by both nominal GDP and purchasing power parity, as well as the largest national economy in Latin America. Travel & tourism is a growing sector in Brazil and is key to the economy of several regions of the country. The direct contribution of travel & tourism to GDP in 2015 was BRL190.5bn (3.3% of GDP). Brazil also has a growing eCommerce market, which is projected to increase nearly 40% by 2018, surpassing $27 billion in online sales. Disburze is now well positioned to help solve cross border payment problem for businesses in these industries with its enterprise level platform. Disburze offers a seamless enterprise friendly API designed for any enterprise to plug and play without upfront investment and additional resources.