Belo Improves B2B Cross-Border Payments with New Web Platform
Digital wallet provider Belo has taken a major step in transforming cross-border transactions for businesses by introducing a user-friendly web platform, as stated in Fintech Global News. The platform’s primary goal is to alleviate the obstacles faced by micro, small, and medium enterprises (SMEs) in Latin America while engaging in international transactions. This development comes as a response to the growing demand for efficient and cost-effective solutions in the B2B payment landscape across borders.
The report by Contxto highlights that the new platform is poised to provide a remedy for the challenges that SMEs commonly encounter in Latin America when navigating international transactions. Companies from 108 nations will now have the opportunity to establish a free account on the Belo platform. This account will grant them the capability to execute transactions using local currencies and even facilitate the transfer of dollars to overseas accounts.
Manuel Beaudroit, the CEO and Co-founder of Belo, emphasized the platform’s commitment to streamlining and expediting the process of sending money abroad. In his statement to the report, he underlined that Belo’s suite of tools is engineered to simplify the complexities of cross-border transactions, thus offering a seamless experience to its users.
The new platform introduces an innovative ACH transfer functionality in conjunction with the existing features that empower businesses to store value and seamlessly conduct transactions related to goods and services. Additionally, Belo has further enriched its service offerings by integrating the Pix payment option, a highly popular method in Brazil. Furthermore, the platform now enables the conversion of corporate funds into stablecoins such as USDC, USDT, and DAI, diversifying the range of transaction choices available to its users.
In another noteworthy update from the FinTech landscape in Latin America, Rextie, a prominent currency exchange platform in Peru, has achieved a significant milestone by securing a strategic investment from the global financial giant, Citi. This investment solidifies Rextie’s status as the pioneering FX FinTech in Latin America to receive backing from a leading global bank. The collaboration between Rextie and Citi is poised to fuse Citi’s cutting-edge FX technology with Rextie’s comprehensive suite of currency exchange services. This move is projected to usher in a new era of innovation and convenience in cross-border currency exchange.
The strides taken by Belo and Rextie underscore the dynamic nature of the financial technology sector in Latin America. As these companies continue to push boundaries, they are reshaping the way businesses and individuals conduct cross-border transactions and manage their financial operations.