Luxembourg / São Paulo, June 14, 2017. PrimeiroPay, a leading payment provider headquartered in Luxembourg, announces today the launch of two cutting-edge Foreign Exchange products in Brazil: PPay next-day and PPay next-day plus to address Foreign Exchange challenges of global merchants.
“International Merchants that want to reach 100% of the market of local payment methods and local credit cards have to process in the domestic currency”, explains Felipe Serrão Country Manager for Brazil.
However, processing in domestic currency may present additional challenges as the Brazilian Real has experienced an average variance of 1.50% per day in the past years. Merchants that receive funds abroad face a high risk of losing a significant part of their profit margin.
Acquirers in Brazil settle funds only 30 days after the transaction was authorized. PrimeiroPay’s PPay next-day solution enables merchants to receive processed transactions the very next day for an extra charge of 1.99%.
And with PrimeiroPay’s Ppay next-day plus solution, the merchant has a guaranteed exchange rate that is valid for the upcoming 24hours removing all the FX fluctuation risks.
“Based on this rate the merchant can re-price their products on the website and will have zero Foreign Exchange Risk”, explains Tim Werner, Managing Director at PrimeiroPay.
He adds, “We have piloted this solution for more than five months and received very positive feedback from our customers. It creates the maximum of transparency and helps the merchant to keep their margin at the same level, independent of the currency the transaction is being processed in.”
PrimeiroPay’s innovative solution is available from today on for all merchants. Recent statistics indicate that Foreign Exchange vulnerability in Brazil is a significant impact on the overall margins of companies selling into Brazil.