UK-based Open Banking payment provider Noda has expanded its Open Banking network to Brazil to unlock new opportunities for merchants. Merchants that collaborate with Noda from any jurisdiction can now benefit from cross-border multichannel payment services, unified reconciliation, single onboarding process, and instant banking and money transfers across Brazil, Europe, the UK, and Canada (Noda’s operational markets).

The expansion enhances the convenience for merchants, enabling them to conduct business seamlessly across different regions. Officials from Noda said that adding Brazil to their list is valuable for merchants that aim for global reach. They are committed to doing everything possible to ensure their convenience and success.

Increasing access to international money transfers Currently, Brazil is using the Pix network, an IP scheme that enables users - people, companies, and government entities - to send and receive money instantly. However, while there are many Pix providers, only few can allow access to European markets. Similarly, European payment providers rarely offer Pix payments across Brazil.

Noda is stepping in to bridge this gap. Meanwhile, Open Banking payments, which are also provided by Noda, have seen rapid adoption in Europe, offering instant account-to-account transactions without card networks involved. Users can pay via their trusted bank’s interface without having to manually enter lengthy card details.

With Noda's advanced Open Banking API, online businesses can easily integrate direct bank payments, offering their customers seamless payments with lower fees. The company partners with 16,500 banks across 27 countries, spanning over 30,000 bank branches. Apart from Open Banking, Noda also assists online merchants with end-user KYC, payment processing, LTV forecasting, and UX optimisation.

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