Inswitch And Nequi Announced A Strategic Partnership
Weekly news up to Wednesday, 31st of July 2024.
👀 NEWS HIGHLIGHT
Google Wallet, an app where you can register credit and debit cards, buy transport tickets and even add documents, now it will also do payments by Pix.
Once available, a special section in the Google Wallet will appear, giving you the option to do payments or transfers via Pix, using keys or QR Code. The user will then need to register their bank and provide their CPF, so that they can make payments with it.
It will be possible to register different bank accounts in the Google Wallet and, when making the transfer or payment, the selection can be made for the money to leave the account that the user desires.
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Pix by proximity will be accepted in Rede machines.
⭐️ Lemfi expands into Mexico and Brazil.
⭐️ Lift Lab resumes innovation projects for the Brazillian financial system.
⭐️ Flexible pay startup Payflow raises €6 million to expand in its markets.
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BRAZIL
Brazilian FinTech company Delend has received the IP/ITP license from the Central Bank of Brazil. With this authorization, the startup can now integrate into the BC agenda and operate as a payment institution, specifically as a payment transaction initiator, integrating into the Open Finance ecosystem and initiating payments via Pix.
Fintechs IP4Y and Zro Bank Authorized by Central Bank to Operate as Payment Institutions in Brazil. The license is in the form of an electronic money issuer.
alt.bank migrates card operations to Pismo. The fintech chose Pismo's cloud-native platform to boost its operations and expand the range of services available to its customers via the Visa credentials.
Pluggy, specializing in data collection, classification, and enrichment within the Open Finance framework, has started offering batch payments to its clients. This service allows companies to consolidate all payments to various creditors through a single Pix transaction.
COLOMBIA
Colombian Fintechs Nequi and Bold Expand Financial Services for Migrant Population. Under this scenario, digital platforms such as Nequi and Bold extended their financial services to this migrant population, as another step towards financial inclusion for these people, who contributed US$529.1 million in direct and indirect taxes in 2023.
ABC Fund invests €1.1m in Colombia's MiCreditoYa Microfinanciera SAS. The EUR€1.1m investment in MiCreditoYa from the ABC Fund will enable MiCreditoYa to expand its loan portfolio, potentially adding 2,500 loans to farmers in Nariño on to its loan book over the next two years.
MEXICO
Dive into the article by Mexico Business featuring an interview with CEO, Juan Pablo Ortega, to discover how Yuno is revolutionizing the payment industry.
Brazilian instant payments fintech Caliza has raised $8.5 million in a pre-Series A round led by Initialized Capital. Caliza will use the funds to expand its operations, doubling its workforce in Brazil, and to launch operations in Mexico.
Digitt Secures US$50M From CoVenture to Help Prime Borrowers in Mexico Pay Off Predatory Credit Card Debt. The Facility will help expand Digitt's existing debt refinancing product, expand its product offering and deepen the company's relationship with its growing customer base.
EL SALVADOR
Inswitch and Nequi announced a strategic partnership. This collaboration aims to strengthen and address the financial needs of Salvadorans, particularly those who are unbanked.
CHILE
Klap partners with fintech R2 to finance 7,000 SMEs in two years. The strategic alliance will facilitate access to credit for small and medium-sized enterprises, using advanced technology and data analysis to promote financial inclusion.
Paytech Kushki has officially entered the in-person payment solutions business with the launch of its POS (Point of Sale) system in Chile. With this new product, the company aims to enhance its offerings and provide national businesses with the capability to process physical transactions.
MOVERS & SHAKERS
PayRetailers, a Spanish payment processing company focused on Latin America, has just promoted Brazilian Daniel Moretto to Director for the region. He will be responsible for leading the company's operations in Brazil and six other countries—Chile, Colombia, Costa Rica, Ecuador, Mexico, and Peru.