Nium has announced a partnership with BS2, a digital bank in Brazil specialising in fintech solutions for businesses. BS2 will use Nium’s Global FX product to lower FX costs and provide more real-time payouts between Brazil and popular trading corridors with China and the UAE.
BS2 will also join Nium’s network of partner banks, acting as Nium’s Brazilian Real (BRL) Correspondent Bank and assisting real-time payment settlement for cross-border transfers from Brazil’s Instant Payment Network, PIX.
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Alex Johnson, Chief Payments Officer, Nium, said: “BS2 is both a valued client and strategic partner, solving our needs for real-time settlement in Brazil, but also providing their customers with access to transparent, competitive foreign exchange rates. This collaboration solidifies our commitment to building enduring partnerships in Latin America that help growing businesses expand their global footprint, while increasing competitiveness.”
Nium’s network is comprised of global banks, national banks and payment service providers, to provide a versatile payment product suite
As a Nium bank partner, BS2 will allow Nium to add stability and redundancy to its network, adding more capabilities for real-time transfers to and from Brazil.
Carlos Eduardo Tavares Jr, Exchange Executive Director at BS2, commented: “This partnership makes our global foreign exchange programs stronger, providing the competitive rates our customers in the e-commerce and marketplace sectors demand. Nium’s global payment solutions are unmatched and together with our reach into Brazil, we look forward to offering mutually beneficial products that lower costs of money transfers and open up more opportunities for local and global businesses.”
Christina Hutchinson, VP of Business Development, Nium, added: “BS2 is a huge win for the LATAM region. Not only are we better poised to support companies in Brazil, but we are also enabling businesses to pay out to Brazil in real-time.”
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