Inter&Co joins Amazon's Payment Service Provider Program

Rhea-AI Summary

Inter&Co, a Brazilian Super App, has joined Amazon's Payment Service Provider (PSP) Program, enabling Brazilian sellers on Amazon US to process payments directly through their Inter accounts. This move enhances Inter's capabilities and supports Brazilian entrepreneurs. With 28 providers in the program, Inter's certification marks a significant achievement. Aloisio Matos, Head of Cross-Border at Inter, emphasized the importance of this milestone amid Brazil's rapid e-commerce growth and digital payment adoption. Inter is positioned to leverage these trends to benefit its users.

Positive

• Inter joins Amazon's PSP Program, enhancing payment options for Brazilian sellers on Amazon US.
• This partnership supports local entrepreneurs, broadening Inter's market opportunity.
• Inter's presence in both the US and Brazil positions it uniquely in the growing e-commerce landscape.

Negative

• None.

Allowing Inter, as a super app, to promote Brazilian entrepreneurs to sell through the largest marketplace in the world

BELO HORIZONTE-MG, Brazil , Nov. 29, 2022 /PRNewswire/ -- Inter&Co (NASDAQ: INTR | B3:INBR32), a leading Brazilian Super App offering a complete range of services in banking, investments, credit, insurance, shopping and remittance-related services, announced that it has joined Amazon's Payment Service Provider (PSP) Program.

The program requires any seller who uses PSP for revenue collecting to work with an Amazon-approved provider. Inter's Brazilian clients - who are sellers with Amazon US -will now be able to receive and send payments directly to their Inter accounts.

Amazon launched the program in March 2021 as part of its ongoing efforts to be the most dependable e-commerce marketplace for customers and retailers around the world. The program aims to enhance the ability to detect, prevent, and take action against potential bad actors while protecting customers from fraud and abuse. As of today, the program currently has 28 providers registered by Amazon worldwide, including Inter.

Aloisio Matos, Head of Cross-Border at Inter, commented, "Becoming a certified provider with Amazon is an important milestone for Inter as we continue supporting our commitment of making our client's lives easier and helping them achieve their financial goals. To make this happen, we have swiftly and successfully implemented significant technical and security developments. We are excited to see this development as it brings benefits and peace of mind to our users."

This new feature highlights Inter's strength as a super app and underscores its commitment to supporting its community by empowering entrepreneurs in their quest to grow.

"Brazil is among the fastest-growing countries globally in terms of e-commerce and the rapid adoption of digital payments, creating a great market opportunity for Inter. Our presence in both US and Brazil uniquely positions us to serve Brazilian Amazon sellers with innovation and quality," concluded Matos. 

About Inter&Co

Inter&Co is the holding company of Inter Group and indirectly holds all of Banco Inter's shares. Inter is a digital bank that simplifies people's lives, where everything is integrated into a single app. Inter offers a complete range of services in banking, investments, credit, insurance, and cross-border services, in addition to a marketplace that brings together the best retailers in Brazil and the United States. Inter&Co is listed on Nasdaq under the ticker INTR.

Contacts:

Grayling
Lucia Domville / Fabiane Goldstein
M +1 646. 824.2856/ +1 945.625.4793
lucia.domville@grayling.com / fabiane.goldstein@grayling.com

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SOURCE Inter

FAQ

What is the significance of Inter joining Amazon's Payment Service Provider Program?

Joining the program allows Brazilian sellers on Amazon US to process payments directly through Inter, enhancing their operational efficiency.

How does Inter's partnership with Amazon benefit Brazilian entrepreneurs?

It provides them with seamless payment solutions, facilitating their growth in the e-commerce space.

When did Amazon launch its Payment Service Provider Program?

The program was launched in March 2021.

What is Inter's stock symbol?

Inter is listed on Nasdaq under the ticker INTR.

How many providers are currently registered in Amazon's PSP Program?

There are currently 28 providers registered in Amazon's PSP Program worldwide.