Zimpler becomes Certified Payment Institution in Brazil

Finextra

3 days ago

Zimpler, a leading Swedish company in Pay-by-bank solutions, has become a certified Payment Institution (PI) in Brazil, authorized by the Central Bank.
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Now Zimpler is allowed to facilitate payments and other Open Finance ecosystem resources, streamlining the checkout process and reducing friction by allowing direct transactions without redirecting users to bank apps. This movement solidifies Zimpler's plans and structure in Brazil.
'We are thrilled to receive this authorization from the Brazilian Central Bank. The recognition of Zimpler as a payment initiator reinforces our commitment to this local market, which offers a great opportunity for growth and value in a very dynamic and competitive environment', says Johan Strand, CEO of Zimpler.
The authorization, which also allows Zimpler to act as an electronic money institution, strengthens the Open Finance ecosystem in Brazil, one of the most advanced in the world and which now welcomes the leading payments fintech from Sweden. Businesses looking to thrive in the country can now benefit from the Zimpler's seamless payment experience, giving them a competitive edge in a dynamic and fast-moving market.
'This milestone showcases the strength of Swedish innovation and the mutual benefits that come from closer economic collaboration between Sweden and Brazil,' said Andreas Rentner, Trade Commissioner and Country Manager of Business Sweden in Brazil. 'Sweden has long been a leader in financial technology, and we are proud to see companies like Zimpler bring their experience and trusted solutions to contribute to Brazil's dynamic digital economy.'
The Brazilian Open Finance ecosystem has more than 64 million active consents and more than 42 million clients, according to the Open Finance Brasil website. As one of the most innovative markets, it keeps attracting leading fintechs from all over the world. One of them is Zimpler, which has recently become the first payment initiator for Swish, the Swedish equivalent of Pix, revolutionizing Sweden's financial ecosystem and turning the company into one of Europe's leading payments fintechs.
'With our experience powering over 80% of Sweden's population through Swish, we're bringing the same proven technology and approach to Brazil through Pix, one of the most successful real-time payment systems in the world. We're looking forward to helping businesses unlock the full potential of Open Finance in Brazil with seamless, secure payments that drive market growth', Strand added.
The authorization by the Central Bank is another step in strengthening Zimpler's foundation in Brazil, following the opening of its São Paulo office in 2022. The company remains focused on expanding its footprint and deepening its partnerships across key verticals such as iGaming, where it sees strong growth potential.