Mexican fintech Belvo acquired brazilian Skilopay to consolidate its current portfolio of payment solutions and expand its presence in Brazil.
Belvo is an online open banking API solution that enables financial institutions to offer products that align better with their customers’ needs by analyzing their financial data.
Skilopay offers payment services through Pix, an instant payment platform managed by the monetary authority of Brazil. This acquisition comes after Belvo received a license from Mexican authorities to operate as a Payment Transaction Initiator (TPI).
“Our aim is to provide companies with easier ways of receiving, holding and sending money through account-to-account payment rails in Latin America and this acquisition brings us one step closer to achieving that goal,” said Belvo’s General Manager, Albert Morales.
Belvo has over 150 B2B clients in Brazil, Mexico, and Colombia, including large financial institutions, neobanks, lenders and ERP companies.
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