LatAm open finance platform Belvo acquires Brazilian paytech Skilopay
Open finance data and payments platform Belvo has acquired Brazilian paytech Skilopay, marking its first acquisition.
Belvo acquires Skilopay
The deal, for an undisclosed sum, will see Belvo expand its portfolio of payment products and become “the most complete” account-to-account (A2A) payments provider in the country, it claims.
Belvo has already obtained a Payment Transaction Initiator (ITP) licence to initiate payments under the Brazilian Central Bank’s Open Finance regulated framework.
Its customers will be able to send and receive payments through Pix, an instant payment methodology developed by the Banco Central de Brasil (BCB, the Brazilian Central Bank).
Belvo says the acquisition opens up “a wide range” of new payment use cases that it is already developing and will be integrating into its platform in the upcoming months, such as instant pay-in and pay-out capabilities through Pix and holding funds in Belvo accounts.
Albert Morales, Belvo general manager in Brazil, says: “Thanks to Skilopay’s expertise around Pix payments, we are now able to offer a more complete set of payment solutions to our customers in Brazil.”
Belvo works with more than 150 financial institutions across Latin America, in Brazil, Mexico and Colombia. It addition to its ITP licence, the company has also obtained an IFPE licence, under the Fintech Law in Mexico, and has recently launched its solution to accept faster PSE (a bank transfer payment solution) payments in Colombia.
