On The Web

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Global

SumUp and Visa make alliance to promote digital payments

August 13 2021

• in
• Latin America

“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 […]

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Domains

MercadoLibre Is Changing the Way Latin Americans Shop—and Pay

June 30 2021

• in
• Latin America
• Remote Commerce

“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 […]

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Deals

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

June 3 2021

• in
• Latin America
• Mexico

“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 […]

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Companies

Mastercard Details Financial Inclusion Plans for Latin America

June 2 2021

• in
• Financial Inclusion
• Latin America
• Mastercard

“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, […]

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Deals

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

June 1 2021

• in
• Latin America

“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 […]

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Deals

Unicorn Ebanx Readies IPO Eyeing More Acquisitions in LatAm

May 25 2021

• in
• Latin America

“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 […]

On The Wires

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Deals

Paysafe to Acquire SafetyPay

August 16 2021

• in
• Latin America

“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 […]

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Global

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

July 20 2021

• in
• Latin America

“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 […]

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Global

Citi Latin America Announces Rollout of the Citi Digital Account

July 14 2021

• in
• Latin America

“Citi Treasury and Trade Solutions (TTS) Latin America today announced a successful launch of the Citi Digital Account. Citi Digital Account leverages innovative digital capabilities using Citi’s award-winning CitiDirect BE® Digital Onboarding, Electronic Signatures, and Digital Product Activations.”

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Global

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

May 17 2021

• in
• Latin America

“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 , […]