A large number of companies want to act as fintechs and offer digital portfolios. This demand leads paySmart to forecast
growth of 70% in 2021
Brazilians handled more than R$ 2 trillion in payments with credit, debit and prepaid cards in 2020, according to data from the Brazilian Association of Credit Card Companies and Services (Abecs), while e-commerce grew more than 30% in relation to to 2019, with total expenses R$ 435.6 billion.
The pandemic accelerated the migration to electronic means of payment and many companies realized that plugging financial services into their products could be advantageous, whether via physical cards, digital cards or PIX.
The growth of the card market, mainly due to the demand for electronic commerce, has favored the business of paySmart, fintech that works to connect companies to the payment ecosystem and allows any company to become a digital bank. In 2021, its forecast is to grow 70%, as a result of the increase in the number of customers and the volume of current customer transactions - both driven by the expressive increase in electronic payment transactions and the increase in the number of fintechs in Brazil.
“Our projection is to almost double revenue this year, due to a significant increase in the customer base, the number of transactions and the expansion of our offer”, says Daniel Oliveira, paySmart's CEO, stressing that the forecasts reflect the demand from companies that are incorporating solutions to act as a digital bank or that intend to carry out transactions that, originally, were the competence of traditional banks. "Several customers have begun to see advantages in offering financial services to their users," he notes.
One of the factors that companies demand is having a light, flexible and cloud-based platform. Comprised of a set of APIs and microservices, the paySmart platform, for example, allows an increasing number of businesses to join the payment system with agility, security and affordable costs for companies of various sizes, including those who are still does not work with any flag. Even those who do not yet have an application or digital wallet platform, can use the services of paySmart and set up an operation practically from scratch - quickly, simply and safely.
“Many companies tell us about the difficulty of integrating their operation with traditional processors, in projects that took many months or even years to be implemented. PaySmart takes a different approach, with lightness and simplicity and usually does onboarding in a fraction of that time. We have several clients that went live in 30 days ”, says Daniel Oliveira. Such simplicity, he observes, provides the agility that businesses demand today, whether with physical cards, virtual cards or BaaS banking services (“Banking as a Service”).
