Zimpler, a fintech company born in Sweden, established its LatAm headquarters in São Paulo, catering to the growing local and regional markets. The paytech – which currently operates in eight European countries with offices in Sweden and Malta – expands beyond Europe for the first time.
Zimpler is a mobile payment method developed in Sweden. The company was originally founded to simplify mobile payments. Shoppers link their cards to Zimpler and for returning shoppers, they only need to submit their phone number to receive a verification code to proceed with payments.
“Zimpler’s ambition is to shape Open Banking in Latin America, and I am glad to finally be able to announce that we’re taking the first step towards that by establishing our LatAm headquarters in São Paulo. I believe that with our products – and the advantages they have over the current solutions available – we can start transforming the market.
“Our study shows that in the first half of 2022, the cost of failed online transactions in Brazil was R$1.3 billion – potentially more. However, the real cost for retailers is individuals who are less likely to return to e-commerce sites following a bad experience. Any friction in online payments systems not only adds to retailers’ costs but also reduces their revenues.”
Johan Strand, CEO of Zimpler
A recent study conducted by the paytech showed “that nearly half of all online consumers (47%) in Brazil reported giving up on an online purchase, due to issues with the e-commerce payment processes.” This is “a gap in the Brazilian market that Zimpler fills, thanks to their seamless and secure account-to-account payments.”