Jeeves and Bexs Launch Brazil's First Fully Digital B2B Payment Platform

Published 5 months ago

In a significant technological leap, Jeeves, a global expense management and cross-border payments platform, has forged a strategic alliance with Bexs, a leading bank in the field of FX and digital payments. Together, they have launched Brazil’s first-ever fully digital self-service cross-border Business-to-Business (B2B) payment platform.

Streamlining Cross-Border Payments

This groundbreaking platform eradicates the outdated manual processes previously required to send money from Brazil to international destinations such as the USA or Europe. The cumbersome procedures of FX contracts and extended invoice payments, often involving multiple calls and emails with FX providers, have now been replaced with a swift and streamlined digital solution.

Rapid and Secure Transactions

The new platform enables businesses to execute transactions digitally within just 24 hours, adhering fully to the Central Bank of Brazil’s security standards. This drastic reduction in transaction time allows finance teams to concentrate on more important tasks. The platform, which is integrated with Bexs’ FX-as-a-Service solution via an API, ensures all international transactions can be conducted entirely digitally.

Bridging the Global Business Gap

Luiz Henrique Didier Jr., CEO of Bexs, spoke of the bank’s aspiration to broaden and simplify access for Brazilian companies to global goods and services. He highlighted the benefits of digital solutions in facilitating seamless transactions, optimizing processes, and eliminating potential obstacles that could hinder a company’s operations.

Competitive Rates and Swift Transfers

The platform also offers competitive FX rates, which not only expedite fund transfers but also optimize margins on transactions. Dileep Thazhmon, CEO of Jeeves, underscored the uniqueness of their new solution in terms of digital experience, and its capability to aid Brazilian companies in their business deals by simplifying and speeding up currency conversion.

Expanding Reach in Latin America

With this innovative solution, Jeeves, which entered the Brazilian market in 2022, is not just serving startups and early-stage companies, but also aims to target medium and large-sized companies. The American fintech firm, which commenced operations in Mexico, views Brazil as a significant opportunity to broaden its business in Latin America.