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Paytech Iniciador receives authorisation to operate as a payment initiator in Brazil

September 6, 2023
Por
Danylo Martins
Danylo Martins
Jornalista, fundador e publisher do Finsiders
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Finsiders
There are currently 24 institutions authorised to act as payment initiators; on the 30th, Santander joined the group.
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Iniciador, a platform specialising in payment initiation and Open Finance, is able to operate as a payment transaction initiator (ITP) and aggregate data in the ecosystem. This means that the fintech has completed all the necessary regulatory and technological steps. The official announcement by the Open Finance Brasil structure is imminent.

This brings to 24 the number of institutions authorised to act as ITPs within the Open Finance framework. On the 30th, Santander also joined this list, which includes large banks, fintechs, neobanks and co-operatives.


"Initiation is the new payment standard for Pix, but today it only happens within large banks," says Marcelo Martins (pictured), CEO and co-founder of Iniciador, who recently also took a seat on the Open Finance deliberative council.


Founded in December 2021, the fintech company has built a SaaS platform that allows any company, regulated or not, to offer the start-up experience. Its client portfolio includes names such as BRBCard (Banco de Brasília's card area), Finnet, Klavi, Akropoli, Trio, U4C, Fintask, PoolPay and Pay2B, among others.  

For the coming months, Iniciador says it will continue to invest in innovation and technology. Among the focuses are the viability of variable recurring payments (VRP) and the journey without redirection. The fintech will also expand its product portfolio to aggregate financial data via Open Finance.

Scenario

In the year to 31 August, the modality totalled more than R$ 350 million in more than 1 million transactions, according to data from the Central Bank (BC). Last month, the total volume was close to R$80 million, an increase of more than 22 per cent compared to July.

In a recent interview with the Fintechs Brasil portal, Marcelo projected that ITP transactions should reach 20 per cent of Pix transactions by the end of 2024. The modality will gain momentum when features such as untargeted journeys and recurring payments are implemented.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Iniciador, a platform specialising in payment initiation and Open Finance, is able to operate as a payment transaction initiator (ITP) and aggregate data in the ecosystem. This means that the fintech has completed all the necessary regulatory and technological steps. The official announcement by the Open Finance Brasil structure is imminent.

This brings to 24 the number of institutions authorised to act as ITPs within the Open Finance framework. On the 30th, Santander also joined this list, which includes large banks, fintechs, neobanks and co-operatives.


"Initiation is the new payment standard for Pix, but today it only happens within large banks," says Marcelo Martins (pictured), CEO and co-founder of Iniciador, who recently also took a seat on the Open Finance deliberative council.


Founded in December 2021, the fintech company has built a SaaS platform that allows any company, regulated or not, to offer the start-up experience. Its client portfolio includes names such as BRBCard (Banco de Brasília's card area), Finnet, Klavi, Akropoli, Trio, U4C, Fintask, PoolPay and Pay2B, among others.  

For the coming months, Iniciador says it will continue to invest in innovation and technology. Among the focuses are the viability of variable recurring payments (VRP) and the journey without redirection. The fintech will also expand its product portfolio to aggregate financial data via Open Finance.

Scenario

In the year to 31 August, the modality totalled more than R$ 350 million in more than 1 million transactions, according to data from the Central Bank (BC). Last month, the total volume was close to R$80 million, an increase of more than 22 per cent compared to July.

In a recent interview with the Fintechs Brasil portal, Marcelo projected that ITP transactions should reach 20 per cent of Pix transactions by the end of 2024. The modality will gain momentum when features such as untargeted journeys and recurring payments are implemented.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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