How B2B Pay openes up the Brazilian market to foreign companies (Sponsored)
Summary
Ecommerce companies and other exporters have been struggling with doing business in Brazil due to the complexities of Brazilian capital controls. B2B Pay has now developed a unique product to help foreign companies to solve this problem using virtual banking technology. Aside from the maze of administrative burdens required for registering a business in order to open a local bank account, sending money outside of Brazil is extremely difficult and expensive due to capital controls in place. Currency can also be converted from BRL to either EUR or USD and then sent to any account in the world at the mid-market exchange rate. The fintech startup successfully took part in the Barclays Techstars and Nordea Banking Accelerator to develop its product.
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