Belvo has acquired Brazilian payment institution Skilopay to further develop its strategic position as a leading account-to-account payments provider in Brazil and Latin America.
Belvo announced today the acquisition of Skilopay, a Brazilian payment institution specializing in payment services through Pix.
Belvo’s first acquisition will enable the company to expand its current portfolio of payment products, which now includes Open Finance payment initiation, to become the most complete account-to-account payments provider in the Brazilian market. Belvo already obtained a Payment Transaction Initiator (ITP) license to initiate payments under the Brazilian Central Bank’s Open Finance regulated framework.
“We are excited to announce the acquisition of Skilopay in Brazil. Thanks to Skilopay’s expertise around Pix payments, we are now able to offer a more complete set of payment solutions to our customers in Brazil. Our aim is to provide companies with easier ways of receiving, holding and sending money through account-to-account payment rails in Latin America and this acquisition brings us one step closer to achieving that goal.”Albert Morales, Belvo’s General Manager in Brazil
“We’re thrilled about this acquisition which demonstrates the tremendous work that Skilopay’s team has put into building our solution and which will be key to help Belvo achieve its mission of bringing more efficiency to the account-to-account payment ecosystem in the region,” said Victor Silva, founder of Skilopay.
Belvo already helps many Brazilian companies accept funds through Open Finance payment initiation with improved conversion and security. Now, this acquisition opens up a wide range of new payment use cases that Belvo is already developing and will be integrating into its platform in the upcoming months. This includes solutions such as instant pay-in and pay-out capabilities through Pix and holding funds in Belvo accounts where payments can be easily received and disbursed.
The company will continue to be focused on its mission to help companies leverage open finance data and payments to build more secure, efficient and inclusive products in Latin America.
Belvo already works with over 150 clients in Brazil, Mexico and Colombia, including large financial institutions, neobanks, lenders and ERP companies. In addition to its ITP license, the company has also obtained an IFPE license, under the Fintech Law in Mexico, enabling it to process account-to-account payments through its platform in the country. Belvo has also recently launched its solution to accept faster PSE payments in Colombia. The company is now uniquely positioned to offer new payment capabilities in the three markets it operates.