Brazil Super App Inter acquires FinTech Usend
Super Brazilian Inter app announcement Tuesday (January 25) that it received authorizations in the United States and Brazil to buy Usend, an American FinTech.
Inter provides both financial and non-financial services to its customers, while Usend’s digital money transfer platform allows users to send international transactions to more than 60 destination countries.
Additionally, the FinTech offers a US digital account for individuals and businesses to make US dollar transfers. Depending on the version, it processes payments from many international platforms in Brazil, including Payoneer, Google, Airbnb, Hotmart, Taboola, Udemy and more.
The acquisition will allow Inter to strengthen and strengthen its position among American FinTechs and add new products and services. The company plans to roll out Inter’s Super App capabilities to US customers, including its marketplace and cashback.
According to the statement, the business integration will help create a new platform offering financial and other types of services to immigrant customers living abroad, Brazilian customers who want to access international products and residents. Americans who wish to use it.
“Our digital account will allow the customer to purchase their flight ticket, transfer US dollars to the international account and pay for their expenses while traveling, all in one app,” Inter CEO said. Joao Vitor Menin says in the ad. “And these are just the first steps. Our planning includes an international account for US residents which is expected to launch in the second half of the year.
The idea of a “super app” has gained traction lately, and PayPal jumped on the bandwagon late last year with its own app, which promised a new “connected economy” to bridge the gaps. shortcomings.
See also: PayPal’s new super app positioned to deliver next-level connected experience
PayPal President and CEO Dan Schulman told PYMNTS that the result will be a lot less need for “40 or 50 apps” on his phone, thanks to the consolidation of various things that people need.