San Diego, CA, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Tesoro Enterprises, Inc. (OTCMKT: TSNP) announced today that HUMBL, LLC (“HUMBL”) and Bexs Bank (“Bexs”) have agreed to a joint venture to expand their digital customer and merchant services divisions between the United States and Latin America, reducing payment costs and processing speeds for customers across these gateways.
Headquartered in São Paulo, Brazil, Bexs is specialized in integrating local payments processing and FX transactions for global businesses and processing an estimated $7.6 Billion per year in international transactions. Through a unique API Platform, Bexs’ solution provides the collection of Brazilian currency via local payment methods, helping companies to connect with customers in the digital world.
HUMBL, a US-based global payments network, that was recently named a Forbes Startup to Watch in 2020, is launching a HUMBL® mobile wallet and HUMBL Hubs® contactless merchant software platform to reduce the time and costs of sending, receiving and exchanging money.
“Despite the rapid consumer adoption of mobile applications like Uber, Tik Tok and Instagram in Brazil, the vertical of domestic and cross-border payments remains a core element of friction for Brazilian consumers and merchants that needs more mobile applications like HUMBL®” said Luiz Henrique Didier Jr., CEO of Bexs Bank.
“There are a variety of complex financial and payment systems that still require 210 million Brazilians to do things in-person or through multi-step banking processes that can be delivered more simply via HUMBL® and HUMBL Hubs™ software, powered by Bexs leading digital payment and foreign exchange engines.”
The partnership will utilize the full technology stack of HUMBL products including the HUMBL® and HUMBL Hubs® applications, to deliver faster, less expensive payment and financial services gateways between the USA and Latin America.
“What we have discovered in the Latin American market, is that both domestic and cross-border transactions are unnecessarily complex”, said Michele Rivera, Vice President of Global Partnerships for HUMBL. “We’re proud to be working on these high-speed rail solutions with Bexs who is a recognized leader in banking and foreign exchange solutions for Latin America.”
About Bexs Bank
Licensed by the Central Bank of Brazil, Bexs Bank facilitates international payments and remittances by connecting companies and people from Brazil to the world. Bexs is a global leader in international online payments, allowing millions of Brazilians to purchase goods and technology from around the world via its digital platforms (APIs).
The mission of HUMBL® and HUMBL Hubs™ is to deliver high quality, low cost digital payments and financial services. The HUMBL network was designed to support vertical markets such as government, banking, wireless and merchants in locations like Latin America, Caribbean, Asia and Africa who are seeking to migrate to digital payment and financial technologies, to help reduce costs and improve settlement speeds for customers.
The HUMBL® Mobile App delivers borderless transactions, by integrating multiple currencies, payment methods, banks, blockchain and financial services providers into one-click for the customer. HUMBL® provides greater access and portability than US only mobile wallet providers, such as Venmo® and Zelle®.
For those customers without a smartphone, HUMBL Hubs™ will allow participating merchants to deliver contactless payments, text ordering and money services across the full pyramid of end-users in these markets.
“We didn’t build HUMBL for the 350 million digital customers using PayPal®, but for the 7 billion people for whom money has a totally different set of global pathways, technology access points and cost structures,” according to the CEO of HUMBL, Brian Foote.
The HUMBL corporate website features global brand videos, product tours, market research, white papers and network architecture at www.HUMBLpay.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.