Belvo is the first Open Finance player in the Brazilian market to give access to historical receivables data from point-of-sale (POS). This solution will help B2B lenders and ERPs develop new financial solutions for retail businesses.
The retail market in Brazil, which in 2021 amounted to 27% of its GDP, is one of the largest sectors of the economy and is highly dependent on credit. And although there are plenty of credit solutions for individuals, businesses struggle to get the same level of variety or flexibility.
The core reason behind this is the lack of quality data. Brazil’s 140 million individual consumers generate a tonne of data points, which allows for accurate credit modeling in the personal finance sector. Businesses, on the other hand, numbering just over 5 million, produce both fewer data and of lower quality. Put simply, commercial lenders in Brazil have to make risky decisions because they just don’t have the right data.
But thanks to Belvo, that’s all about to change.
Introducing Receivables, a new data aggregation product from Belvo
With Receivables, lenders will be able to gain access to the physical point-of-sale (POS) devices that process transactions, which unlocks numerous possibilities in terms of getting high-volume and high-quality data for underwriting businesses.
Belvo is developing integrations to connect the main acquirers in Brazil – which are the financial institutions responsible to enable merchants to process payment card transactions.
Thanks to this, Belvo is eliminating the operational burden of maintaining connections with different acquires and creating a one-stop-shop to consume receivable data from multiple sources across the Brazilian market.
Our solution will initially provide access to two types of data: “accounts”, which returns an aggregated view of receivables data, and “transactions”, which display every transaction processed through a POS device.
The first acquirers available within this new product are Rede and Getnet. Very soon, we’ll also integrate Cielo, PagSeguro, MercadoPago, and Stone.
Who can benefit from POS data?
This product has two principal use cases: B2B lending and receivables conciliation.
By accessing historical transactional receivables data, B2B or commercial lenders will have a new data source to feed into their underwriting models.
This data will provide lenders with more accurate information about key economic factors of the businesses they lend to, such as their average sales tickets, and the average number of sales.
By retrieving receivables transactional data and sales insights from every transaction made through a POS machine, ERPs gain granularity about every operation between retailers and acquirers. With this aggregated data, they can improve their product offerings for retail businesses and SMEs, by helping them better control their sales performance and verifying fees charged by acquirers.
You can already start retrieving Receivables data directly in our sandbox environment – check it out!