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March 10, 2023

On the wires

PayRetailers Intensifies Deployment of Payment Solutions in Latin America


"PayRetailers accelerates the deployment of its payment solution in Latin America, offering global digital companies more flexible payment solutions and local operating facilities to help them expand their businesses within the region. International expansion is a natural step for global start-ups looking for new markets to boost their revenue. In this sense, Latin America has become one of the biggest bets to accelerate digital commerce worldwide."

November 10, 2022

On the web

Ping Wants to Simplify Global Payments While Helping Latin Americans Embrace Crypto


“If the global pandemic taught us anything, it’s that you could work from anywhere as long as you had a computer and good wireless signal. However, getting paid when you live, say, in Argentina but work for a company on the other side of the world is not so simple. Many fintech startups have taken on this challenge, including Ping . The company was started in 2021 to solve payment challenges in Latin America, where about 70% of the population does not have a traditional bank account . Today, it is a digital payment tool, available on Android, iOS and desktop, facilitating international payments for remote workers, contractors and freelancers in both their local currency and in fiat and cryptocurrency.”

June 24, 2022

On the web

Latin America’s Crypto Conquest is Driven by Consumers Needs

PR Newswire

“The digital payments revolution that began during the pandemic is consolidating and driving Latin American interest in cryptocurrencies. 51% of consumers in the region have already made a transaction with cryptoassets and more than a third say they have made a payment for an everyday purchase with stablecoin, reveals Mastercard’s New Payments Index 2022, a survey conducted between March and April of this year among more than 35,000 people around the world. The New Payments Index annually evaluates consumer behavior concerning emerging payment methods. In its second edition, the study shows that financial innovation -cryptocurrencies, DeFI solutions, blockchain, NFTs- registers significant activity in the region, with consumers eager to learn more about this ecosystem.”

April 27, 2022

On the web

Brazil’s Pix Instant Payments Accelerate Financial Inclusion as an “Instant Economy” Rapidly Rises in Latin America, Per EBANX Beyond Borders Data


“In a region where about half the population still doesn’t have a bank account, new payment types are unlocking the potential of the Latin American market for online merchants as the open banking movement matures there, according to a new Beyond Borders data analysis released by EBANX, the leading payments platform in Latin America that connects global companies to Latin America’s consumers.  Methods such as Pix instant payments and digital wallets have paved the way to a major shift to digital commerce for Latin Americans with an increase of close to 50 percent more e-commerce users last year compared to pre-pandemic years (68% at the end of 2021 vs. 45% prior to the pandemic). This means that more than 150 million people bought online for the first time during the last two years.”

January 11, 2022

On the web

Brazilian Fintech Ebanx Sees Mexico Business Doubling for Second Year


“Brazilian fintech Ebanx expects to double its business in the Mexican market for a second year in a row in 2022 as it pushes further into Latin America’s No. 2 economy, the company’s co-founder told Reuters. Ebanx, which facilitates cross-border payments, is bringing on up to 10 new retailers, opening its first office in the country and expanding its team, Joao del Valle said in an interview on Monday.”

On the wires

Spreedly More Than Doubles Latin American Transaction Volume Year-over-Year

“Spreedly, the provider of the leading Payments Orchestration platform, today announced that transaction volume across Latin America on the Spreedly platform has grown by over 100% year-over-year. As one of the world’s fastest growing e-commerce markets, there is a strong demand for ways to more easily scale payments across the region. In a recent report published by Americas Market Intelligence (AMI) , growth rates for Latin America from 2020 to 2024 are estimated to be between 20% to over 40%.”

January 5, 2022

On the wires

Nuvei Enables International Ecommerce Merchants to Accept Local Payment Methods in Latin America

Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI) the global payment technology partner of thriving brands, has announced today its capability enhancement which enables international merchants to accept local payment methods in 10 Latin American countries in addition to international card schemes and alternative payment methods (APMs). The Company’s newly introduced solution will support local card schemes and alternative payment options, streamlining the setup needed to support local payment methods, while boosting acceptance rates. This includes settlement in local currency, settlement in non-Latin American currencies, regional settlement, or a combination of all three.”

November 15, 2021

On the web

Rappi Hopes to Be Operating As Digital Bank in Colombia by Early 2022, Executive Says


“Delivery mobile application Rappi hopes to get regulatory approval to operate as a digital bank in Colombia in the first quarter of next year, an executive said on Monday. If authorized, the company plans to expand its services as a financial entity through RappiPay, a joint venture with bank Davivienda (DVI_p.CN) , which already offers a credit card and an electronic account.”

September 8, 2021

On the web

Addi Raises $75M to Advance ‘buy Now, Pay Later’ in LatAm, Nearly Triples Valuation


“Buy now, pay later is officially everywhere, and Latin America is no exception. Today, one startup in the region, Addi , is announcing a $75 million extension to its Series B, bringing the total round size to $140 million. In late May, the startup announced it had raised $35 million in an equity round led by Union Square’s Opportunity Fund, and $30 million in debt funding from Architect Capital.”

September 7, 2021

On the web

How the Latin American Market Has Hit the Radar Screen for Major Processors

Digital Transactions

“North American payments processors are focusing lately on bulking up resources in Latin America, largely via acquisition. The latest example is Montreal-based Nuvei Corp., which on Tuesday said it has acquired Paymentez LLC, a 10-year-old payments provider that enables more than 80 payment methods in Mexico as well as 10 countries in South America. Terms of the deal were not announced. The news follows a pair of acquisitions rival processor Paysafe Group Holdings Ltd. has lately executed in the South American market and throws into relief the efforts by established payments firms to seek out high-growth international opportunities.”

August 25, 2021

On the wires

Mercado Livre Announces Acquisition of Kangu, a Latin American Logistics Operator | MercadoLibre, Inc.

“Mercado Livre, Latin America’s leading e-commerce and financial services technology company, has announced its acquisition of Kangu , a Brazilian logistics company that operates in Brazil, Colombia and Mexico. Mercado Livre, which was already a strategic partner, expanded its participation with the acquisition of the entire company. This is consistent with the platform’s strategy of increasing investment across its logistics network to boost efficiency for sellers and offer its thousands of customers the fastest delivery times in Brazil.”

August 20, 2021

On the web

E-commerce Platform Nuvemshop Becomes Brazil’s Latest Unicorn


“Having raised $500 million in its latest funding round, Brazilian e-commerce platform Nuvemshop has become the latest unicorn startup in Brazil, the company said on Tuesday. The funding arrives just five months after Nuvemshop received an investment of 500 million reais ($95.2 million), bringing its 10-month total to $620 million and highlighting how Latin America’s fast-growing e-commerce segment has caught the eye of international investors.”

August 17, 2021

On the web

August 16, 2021

On the wires

Paysafe to Acquire SafetyPay

“Paysafe (NYSE:PSFE) (“the company”), a leading specialized payments platform, today announced that it has signed a definitive agreement to acquire SafetyPay for USD 441 million in an all-cash transaction. SafetyPay is a leading payments platform that enables eCommerce transactions via an unrivalled choice of open banking and eCash solutions, operating primarily in Latin America. For Paysafe, this latest deal strengthens its strategic foothold in Latin America, building on its recently announced acquisition agreement with Peruvian payments platform, PagoEfectivo. Together the two acquisitions set Paysafe up to be the leading open banking and eCash solutions provider in Latin America, one of the world’s fastest-growing online markets.”

August 13, 2021

On the web

SumUp and Visa make alliance to promote digital payments

Payment Media

“SumUp and Visa partnered to promote the digitization and financial inclusion of small businesses and entrepreneurs through access to mPOS and other tools. So far they have reached more than 280 medium and small cities, including Yopal, Tuluá, Riohacha, San Andrés and Quibdó, among others. According to Visa, the consumer prefers the use of cards over cash.”

July 20, 2021

On the wires

BigCommerce and Mercado Libre Partner to Power Cross-Border Ecommerce Growth

BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established brands, today announced a partnership with Mercado Libre (Nasdaq: MELI), the leading ecommerce marketplace in Latin America, to give BigCommerce merchants the ability to sell across Latin America to nearly 133 million unique consumers on Mercado Libre’s Marketplace. It also marks Mercado Libre’s first partnership with a major North American ecommerce platform and complements the company’s recent expansion into the United States.”

July 14, 2021

On the wires

June 30, 2021

On the web

MercadoLibre Is Changing the Way Latin Americans Shop—and Pay


“If MercadoLibre is changing the way Latin Americans shop, investors seem even more excited about how it’s changing the way they pay. Payment volume at MercadoPago , the company’s financial tech arm, increased 75% last year, to $50 billion, as merchants incorporated the ability to pay through smartphone apps or QR codes. The company also more than doubled the portfolio of its lending business. In 2018, Goldman Sachs Group Inc. estimated that 40% of MercadoLibre’s value came from its financial-services arm; today it’s 60%.”

June 3, 2021

On the web

Mexican Payments Network Prosa Seeks Buyer at $1 Bln-plus Valuation -sources


“Mexican payments network Prosa is exploring a sale that could value it at more than $1 billion, people familiar with the matter said on Wednesday. Owned by a consortium of banks including Grupo Financiero Banorte (GFNORTEO.MX) and the local arms of HSBC (HSBA.L) and Banco Santander (SAN.MC) , Prosa provides the infrastructure that facilitates more than half the payments in Mexico. It is also one of the largest payment processors in Latin America, completing around 4.7 billion transactions in 2020.”

June 2, 2021

On the web

Mastercard Details Financial Inclusion Plans for Latin America

Mobile ID World

Mastercard is doubling down on its commitment to financial inclusion. The company has already brought 500 formerly unbanked people into the modern financial ecosystem to fulfill a five-year goal, and is now looking to raise that number to 1 billion people (and 50 million small businesses) before the end of 2025.   To get there, Mastercard is planning to make a major push in Latin America in particular . The financial giant recently launched a new initiative in El Salvador, Guatemala, and Honduras that will seek to bring digital capabilities to 5 million people and 1 million small businesses in the Northern Triangle region.”

June 1, 2021

On the web

Kushki, an Ecuador-based Fintech, Raises $86M to Build Financial Infrastructure in Latam


“Just about every week there’s a blockbuster round coming out of South America, but in certain countries such as Ecuador, things have been more hush hush. However, Kushki , a Quito-based fintech, is bringing attention to the region with today’s announcement of a $86 million Series B and a $600 million valuation…Unlike many other fintechs in Latam that are out to help the unbanked, Kushki works behind the scenes building the tech infrastructure that companies like Nubank use to transfer money. Some of the functionalities they build enable both local and cross-border payment players in credit and debit cards, bank transfers, digital cash, mobile wallets, and other alternative payment methods.”

May 25, 2021

On the web

Unicorn Ebanx Readies IPO Eyeing More Acquisitions in LatAm


“Brazilian unicorn Ebanx SA kicked off preparations for a potential U.S. listing as the fintech moves ahead with an ambitious plan to expand its payment processing solutions across Latin America, including a new platform integrating cross-border and local transactions. The so-called Ebanx One, which combines different payment methods into a single system, pledging to unwrap red tape for both international and local customers in the region, is a major step toward an initial public offering, most likely in the U.S., Chief Executive Officer and co-founder Joao Del Valle said.”

May 17, 2021

On the wires

Mastercard, Mercado Libre, Common Cents Lab, and IDB Join Forces to Improve Financial Resilience Among Entrepreneurs and Gig Workers

“A new initiative in Latin America supported by Mastercard, Mercado Libre, the IDB’s Retirement Savings Laboratory , and Common Cents Lab, a financial behavior research lab at Duke University, seeks to use behavioral science to help entrepreneurs and SMEs in the region make better financial decisions. According to the IDB’s COVID-19 Labor Market Observatory , during the COVID-19 pandemic, more than 31 million people lost their jobs in Latin America, and the United Nations anticipates the worst recession for the region in a century. Small- to medium-sized enterprises (SMEs) and entrepreneurs who are actively working, or those who are deciding to enter the digital economy at this stage, must have sufficient financial resilience to overcome this period and be even better prepared to weather financial shocks.”

May 13, 2021

On the web

March 22, 2021

On the web

Homebrew Backs Higo’s Effort to Become the ‘Venmo for B2B Payments’ in LatAm


“The B2B payments space has been on fire for a while, and the COVID-19 pandemic has only fueled mass adoption of digitizing finances. In regions like Latin America, the need for innovation in the sector is even more paramount than in the United States with so many people still relying on outdated processes. One Mexico City-based startup, Higo.io , is out to transform B2B payments for SMBs (small and medium-sized businesses) in Latin America, starting with its home country.”

March 11, 2021

On the wires

Galileo Financial Technologies Accelerates Expansion and Opens Latin America Headquarters and Innovation Center in México

“Galileo, the API standard for card issuing and digital banking and a leading technology platform subsidiary of Social Finance, Inc. (SoFi), today announced the opening of a Latin America headquarters and innovation center in the iconic Torre Reforma building in Mexico City. The move follows the incorporation of Galileo’s Mexican subsidiary and the initial opening of its first office outside the U.S. in Mexico City last year.”

March 5, 2021

On the web

Arcus Announces Arcus Pay: Payment Track That Converts Points Of Sale Into ATMs


Arcus, the leading fintech platform that makes financial technology possible for everyone, announces the launch of Arcus Pay, a payment track through which a network of 60 thousand retail points of sale will offer Cash-in and Cash-out transactions for consumers of fintechs and neobanks. Arcus Pay allows you to transform physical money into digital money and make cash deposits, cash withdrawals and payment of products in physical stores with money from digital wallets. Companies will be able to provide banking-like services to the underbanked or unbanked population, thus paving the way for financial inclusion.”

February 26, 2021

On the wires

Lightspeed Partners With DLocal to Power Payments for Independent Merchants in Mexico

dLocal , the foremost payment platform connecting global merchants to emerging markets, and Lightspeed (NYSE: LSPD) (TSX: LSPD), a leading provider of cloud-based, omnichannel commerce platforms, today announced a new partnership. The collaboration will allow Lightspeed merchants to accept local payment options across Latin America as the small business market in that region undergoes a rapid digital transformation.”

December 1, 2020

On the web

EBANX Partners with PicPay to Offer New Payment Option in Brazil

The Fintech Times

“EBANX, a Latin American fintech specialised in local payment solutions for global merchants, has partnered with PicPay, the largest digital wallet in number of users in Brazil, to offer a new payment option in the country. International companies that adopt EBANX’s solutions to sell in Brazil through digital payment accounts can now offer PicPay as one of its payment options, expanding their Total Addressable Market in the largest economy in Latin America, and giving access to millions of Brazilians to global products and services.”

November 19, 2020

On the web

Mastercard & Juvo to provide financial services to underbanked consumers in Latin America

Financial IT

Juvo, a pioneer of financial identities for the underbanked, today announced a new partnership with Mastercard. Juvo was accepted into Mastercard’s global fintech startup engagement program, Start Path, last August. Now, Juvo is collaborating with Mastercard’s Latin America and Caribbean (LAC) team to introduce its FiDaaS (Financial Identity as a Service) platform to hundreds of financial institutions across the region. FiDaaS will enable these institutions to confidently serve a much broader base of customers and drive financial inclusion.”

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