Zimpler Extends Footprints into Latin America

Zimpler, a Sweden-based fintech, has announced that it will expand its operations to Latin America.

The company has established its Latin America headquarters in São Paulo, catering to the growing local and regional markets. Zimpler plans to introduce their instant payments solution in the country later in 2022 and are already planning their next market expansion.

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The company – which currently operates in eight European countries with offices in Sweden and Malta – expands beyond Europe for the first time. A recent study conducted by Zimpler showed that nearly half of all online consumers (47%) in Brazil reported giving up on an online purchase, due to issues with the ecommerce payment processes. This is a gap in the Brazilian market that Zimpler fills, thanks to their account-to-account payments.

Zimpler's instant payment solution for the Brazilian market will be based on the Brazilian central bank's PIX technology. The amalgamation of PIX and Zimpler's solutions will simplify the transaction chain by optimising the end-user journey. Zimpler will enable instant settlement towards the retailers, thus reducing the reliance on cards and associated transaction fees.

(Source: The Paypers)