This week, we’re glad to be shedding some more light on the ever-changing world of eCommerce and business in Brazil, especially now that we have some really special news for our users living and trading there.
The Special News
First things first, we here at Unlimint are proud to announce that we have successfully taken three new payment methods live this week.
- Deposit Express
To summarize, these three methods mean that users and consumers can use our platform for direct bank transfers, cash, desktop and mobile payments to companies situated in Brazil.
Those that are looking to make/take payments using Boleto, Deposit Express or Loterica will be able to do so for transactions of anything from 4-15,000 BRL. The introduction of these settlement options opens up the way for retailers to cater to a substantial segment of Brazil’s population.
So, how does a solution like Boleto work? Whenever a user wants to make a payment using Boleto, all they need to do is select the option and provide some of their personal information. That can include:
- Full name
- CPF (Customer’s personal identification number)
- Shipping ZIP code
After doing so, they’ll be able to generate a voucher, which they can print out in order to settle in their bank, or in any participating store.
Diving Into Brazil
Despite being home to more than 214 million people, there is a huge gap between those that are banked vs unbanked; with one in three people not having any kind of bank account.
That’s 45-55 million people making payments either directly with cash, or one of these payment apps, which represents a staggering amount of money – 800 billion BRL a year according to Instituto Locomotiva.
This is where having a system like Unlimint’s global-to-local one comes really in handy, no matter what kind of business you run.
Boleto, for example, is one of the largest online economic solutions in operation in Brazil, and throughout LATAM; being responsible for 50 million transactions a month.
Unlimint and Boleto
For businesses that live and thrive online, this is a massive financial opportunity. Especially considering that those that are unbanked consist of self-employed professionals, small-scale entrepreneurs among others.
Considering the fact that solutions like Boleto, Deposit Express and Loterica are also targetting a population that is increasingly active online via desktop and mobile. Being able to open the door wide for these companies is really exciting for us.
And we hope it’s going to pique your interest too!