In a corporate statement, the Brazilian financial institution Treviso announced that it has selected Nanopay Corporation as its technology provider to allow automatic international payments, both for the company’s staff and its business partners.
This trade association will allow remittances to be sent to ten different countries. The company plans to expand this network so that, in future stages of development, they can cover more than 150 countries.
Trevis has been operating in the foreign exchange market (also known as Forex) since 1999. Currently, the company has more than 200 partners throughout Brazil and allows the sending of money for business reasons, as well as prepaid cards that they handle multiple currencies for their clients.
Treviso currently serves its clients via telephone, email, or online applications. The partnership with Nanopay will enable it to scale its white-label service, allowing Treviso customers to complete their international payments online, improve their production line, and enhance the customer experience.
Wilson Nagem, CEO of Treviso, commented that ‘a self-service portal for international payments is something that we have yet to see in Brazil. We believe it will be a real differentiator in the market. ’ The executive highlighted the experience that has been working with the nanopay team. “We look forward to capitalizing on all the technology it has to offer in its upcoming releases.”
Founded in 2013, Nanopay is a global payments company with its headquarters in Toronto, Canada. The company offers payments to businesses and liquidity to management products. The company’s long-term goal is to digitize money for banks and offer an infrastructure that enables what is known as the Digital Central Bank.
The Nanopay platform uses a hybrid blockchain technology that combines the characteristics of this technology with conventional databases. The main differentiator is that the nanopay blockchain has an ideal centralizer, both for domestic payments and abroad. For this reason, company executives claim that the Nanopay platform is secure, reliable, and easy to use. Also, the payments used by the system are fast, traceable, and inexpensive.
Carlos García, the VP in Payment Operations at Nanopay, mentioned that the company’s technology will allow Treviso to improve the experience of these user segments beyond competing now with the expansion of service and opening a new market channel. In Brazil as well as Canada, the home country of nanopay, the country’s financial services are mostly concentrated by a few banks. Lack of competition causes small businesses and individual customers to be poorly served.
The association with Treviso represents the first step for the expansion of Nanopay in Brazil, a country that represents one of the best market opportunities in Latin America. Nanopay is also the first foreign company to join ABRACAM, the Brazilian association for forex brokers, banks, and financial institutions that specialize in currency exchange and international money transactions.
Laurence Cooke, the founder, and CEO of Nanopay Corporation commented on the group’s expansion that: “As we continue to expand across multiple geographies, it is clear that the need for more secure, ubiquitous and faster payments is common worldwide. Our technology is a differentiator and, as a result, we offer one of the most scalable and secure platforms on the planet. ”