Zoop Obtains Payment Institution Licence in Brazil

Zoop, the leading fintech in technology for financial services in the Brazilian B2B market, received authorization from the local Central Bank, to act as a Payment Institution (Instituição de Pagamento (IP)), as an electronic currency issuer (EMI).

The IP license opens up new business prospects for Zoop and strengthens its market position. The company now has direct access to the Brazilian Payment System (SPB) and the Instant Payment System (SPI), which will enable the development of new financial services infrastructure solutions.

With the new endorsement, Zoop intents to expand its product and service offerings, with the aim of empowering its partners with additional resources. The new options include direct bill settlement, Pix as a service - instant payment method, core banking, and innovative services within the scope of open finance, such as ITP as a service.

"By obtaining this license, Zoop will be able to offer more comprehensive and personalized financial solutions to customers and partners, meeting growing market demands. This achievement also strengthens our position as a leader in the B2B financial services sector," says Fabiano Cruz, CEO and founder of the company.

The acquisition of the IP License marks a significant milestone for Zoop, in its tenth year of successful operation.

(Source: PR Newswire)