September 21, 2017
Nuveo, in partnership with Grupo Rendimento, creates Levpay, a new e-commerce payment method
SAO PAULO -- Brazil has the fourth-highest number of Internet users worldwide. There are 140 million users, of whom more than 66 million are gamers. Virtual games that interact with other players around the world are an increasingly common activity for Brazilians, who spent approximately R$1.3 billion in the last year. With this public in mind, Levpay has come to Brazil to facilitate access to numerous stores.
The company is the result of a partnership between Grupo Rendimento and Nuveo. Grupo Rendimento is comprised of the companies Cotação DTVM, Agilitas Soluções de Pagamentos, and Banco Rendimento, which has been in the market for 25 years. In this project the company is responsible for converting and remitting amounts to international businesses, which is one of the Bank's specialties. Nuveo, in turn, is participating in the partnership with expertise in artificial intelligence and machine learning. The company, which is specialized in process automation through artificial intelligence, is a provider to the largest companies in Brazil (domestic and multinational companies), and it recently opened an office in Canada.
"Levpay's objective in Brazil is to provide purchasing power in international stores to consumers who do not have an international credit card. More than 25% of the Brazilian population does not have a bank account, therefore they do not have access to international e-commerce," said the Manager of Product Development and Innovation of Grupo Rendimento, Roger Ades.
On the other end of the process, and providing innovative and complete payment solutions, Levpay seeks to overcome restrictions on this type of international commerce in Brazil, and consequently become part of the growth strategy in the Brazilian market.
For the client, the experience of making a purchase in an international store will be as if he were acquiring a product from a local business. After choosing either a bank deposit or bank payment slip, the client will pay Levpay in reais. Through the services offered by Grupo Rendimento, Levpay will convert the reais into the currency of origin of the e-commerce, and will make the remittance to the seller.
"We thought about all of the stages until we came up with the current model. The entire process was designed to be successful both in terms of the consumer's experience, as well as receipt by our clients. The partnership with Grupo Rendimento in this undertaking is fundamental for us to be able to provide a safe and agile service that will guarantee payment to the international store owner within a certain period," said Christian Ribeiro, CEO of Levpay.