Belvo acquires Brazilian institution Skilopay to boost its payments service

By Delisha Fernandes

Belvo, has announced the acquisition of Skilopay, a Brazilian payment institution specializing in payment services through Pix.

The company’s first acquisition will enable it to expand its current portfolio of payment products, including Open Finance payment initiation, to become the most complete account-to-account payments provider in the Brazilian market

Albert Morales, Belvo’s General Manager in Brazil, said, “We are excited to announce the acquisition of Skilopay in Brazil. Thanks to Skilopay’s expertise around Pix payments, we can now offer our customers a complete set of payment solutions in Brazil. Our aim is to provide companies with easier ways of receiving, holding and sending money through account-to-account payment rails in Latin America. This acquisition brings us one step closer to achieving that goal.”

Belvo helps many Brazilian companies accept funds through Open Finance payment initiation with improved conversion and security. This acquisition opens a wide range of new payment use cases that Belvo is already developing and will integrate into its platform in the upcoming months.

This includes solutions such as instant pay-in and pay-out capabilities through Pix and holding funds in Belvo accounts where payments can be easily received and disbursed.

Victor Silva, founder of Skilopay, said, “We’re thrilled about this acquisition which demonstrates the tremendous work that Skilopay’s team has put into building our solution and which will be key to help Belvo achieve its mission of bringing more efficiency to the account-to-account payment ecosystem in the region,”

The company will continue to be focused on its mission to help companies leverage open finance data and payments to build more secure, efficient and inclusive products in Latin America.