CloudWalk Announces US Launch with Jim.com
CloudWalk, owner of InfinitePay, has announced its expansion into the U.S. with the launch of Jim.com, targeting entrepreneurs in New York, Austin, and San Francisco. The app combines AI, Tap to Pay, and instant payments to enhance financial management and liquidity for small businesses.
Rio de Janeiro, April 2024 – CloudWalk, Inc., owner of the InfinitePay financial services platform in Brazil, announced its official entry into the United States, marking the beginning of its global expansion. The announcement was made by Luis Silva, CEO and founder of the Brazilian unicorn, during the keynote speech on the Main Stage of Web Summit Rio.
Named Jim.com, the application will initially focus on New York, Austin, and San Francisco. Jim.com is designed for individual entrepreneurs or businesses with a maximum of two or three employees, bringing together three major trends in the payments market.
The first is Artificial Intelligence, through an assistant that helps with daily financial decisions. The second is Tap to Pay, a technology that transforms smartphones into payment terminals and has been growing exponentially in various markets. Finally, instant payments, which in Brazil are dominated by Pix, allow payment to instantly reach the seller's account.
Interested parties can now register on the website to join the list of first customers. Instant payment technology represents a revolution in cash flow management for entrepreneurs. With more liquidity and greater control over funds, entrepreneurs can access more resources for purchasing supplies and negotiating with suppliers.
"In the past, entrepreneurs in Brazil would receive card payments, but the money could take days or even months to reach the account for installment payments. This changed with the popularization of Pix in Brazil, and we’ve seen similar developments in major economies like China and India," says Luis. In the United States, according to CloudWalk's CEO, this reality is different.
The instant payments movement is relatively recent in the U.S., spurred by changes in the macroeconomic landscape, such as rising interest rates and inflation, which have encouraged the adoption of financial technologies. FedNow, a Federal Reserve initiative similar to Pix, was launched last year in the United States but has yet to gain traction. "In Brazil, everyone is accustomed to using Pix, QR Codes, and receiving money in seconds. In the U.S., they’re just beginning to experience this," says Luis.
"We believe Jim.com brings together cutting-edge technology along with our experience as a fintech addressing the challenges of entrepreneurship in a Latin American country. This is our advantage in a market that, while highly competitive, is ten times larger than Brazil in transaction volume."
Jim.com has been released to an initial group of merchants who are testing the tool, and it will soon be available to the general public. To join the waiting list, simply access the link.
