Google Pay operability will help accelerate virtual payment provider's expansion in Brazilian market
LONDON, Feb. 20, 2023 /PRNewswire/ -- Virtual payment card provider Lanistar has gone live with Google Pay operability to its virtual payment card in Brazil - the fastest growing market for its service. This is the first time the Lanistar service has been approved for use through Google's proprietary secure payment platform.
This represents a significant step for Lanistar. Not only will this technology allow the fintech's services to be more and more accessible for users by assuring there will be no restrictions when it comes to making transactions but will also give the app itself more appeal than ever before.
Jeremy Baber, CEO at Lanistar, stated, "This is a major milestone for Lanistar and its customers, many of whom appreciate the convenience of using Google Pay to make everyday purchases. With speedy and highly secure contactless transactions now fully available to Lanistar users in Brazil, our customers can make the most of our services with minimal stress, which ties in perfectly with Lanistar's goals and priorities for its users."
Lanistar has been expanding rapidly in Brazil in the last few months, having gone public in the country in mid-2022. The Lanistar mobile app enables customers to manage and control all of their financial products from one place, with a virtual card to allow purchases to be made online or now via Google Pay.
The app also integrates with regional payment solutions PIX and Boleto, giving Brazilian customers wide-ranging functionality without the need for a physical payment card. This is being done in an effort to minimise the fintech's environmental impact, all while providing convenient payment solutions to users.
Encouraging the use of a virtual card in lieu of a physical card is a bold strategy, but one that Lanistar is adamant will be successful, especially in pushing new and environmentally friendly technologies into the wider financial market. It is a small but efficient way of helping the environment, and one that Lanistar is boldly championing.
Google Pay is a mobile payments service developed by Google to power in-app, online, and in-person contactless purchase on mobile devices, enabling consumers to make payments with Android phones, tablets or watches.
"We are a platform that is still new and growing, but Google Pay integration will be transformational for our customer base and raises us to the next level in terms of functionality. We are all about ease of use and this is proof of that"
"With an established customer base in Brazil, the immediate roll-out of Google Pay in-market was the logical choice. Our plans for 2023 intend to take the company into other LATAM territories, as well as to a variety of other locations around the world, including the USA, Canada, and Europe," concluded Baber.
Notes to editors
Lanistar was founded in 2019 by entrepreneur Gurhan Kiziloz, whose ambition is to build a fintech unicorn that truly challenges the status quo of old-fashioned, traditional banking services.
Using modern technology and working with industry-leading partners, the Lanistar team is building a platform that provides a total 'AnyMoney' solution for its customers. This will give customers access to all their financial products in one place, from general bank accounts all the way through to cryptocurrency.
Lanistar is not a bank but a payment card provider, operating as an intermediary that offers financial services to end users. Lanistar offers the services of a typical bank account through its banking partner Modulr, but with advanced UI/UX and design to make it easier and more secure than high street banks.
Lanistar Ltd is a registered EMD agent (FRN:902996) of Modulr FS Limited and may distribute and redeem e-money and provide payment services. Modulr FS Limited is authorised by the Financial Conduct Authority ("FCA") under the Electronic Money Regulations 2011 (FRN: 900573) for the issuing of electronic money and to provide payment services. Lanistar Limited ("Lanistar") is currently only carrying our pre-launch marketing in preparation for the future launch of Lanistar branded payment cards ("Cards"). Lanistar is finalising arrangements with various partner firms who are authorised and/or regulated (by the FCA and other overseas regulators) and the Cards will only be launched and go-live when those arrangements are in place.