Yuno Brings Smart Routing to Payments Process
Weekly news up to Wednesday, 13th of October 2024.
👀 NEWS HIGHLIGHT
Digital bank PicPay is offering access to Brazil’s Pix instant payment system via WhatsApp.
The new artificial intelligence (AI)-powered offering, is made possible by PicPay’s partnerships with WhatsApp owner Meta and Microsoft.
“Unlike traditional chatbot assistants, PicPay’s GenAI, developed in-house and powered by Microsoft Azure OpenAI Service, can instantly recognize Pix keys in a variety of contexts, such as complex conversations, audio messages, or even photos and screenshots containing multiple pieces of information,” the company said in a news release provided to PYMNTS.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Payment Orchestration: Addressing Critical Challenges in Digital Commerce.
⭐️ Stay raises $2.6M to expand private pension offerings in Brazil.
⭐️ Pix on WhatsApp: see how AI works that reads and listens to messages to schedule transfers.
⭐️ Nubank reaches 100 million customers in Brazil.
Stay Updated on the Go. Join my new Telegram channel for daily updates and real-time breaking news. Stay informed and connect with industry enthusiasts —subscribe now!
BRAZIL
B89 and PagBrasil join forces to expand Pix in Latin America. This collaboration enables B89 to offer Pix International to merchants in Panama, Colombia, Peru, Bolivia, Paraguay, Venezuela, and Ecuador, allowing Brazilian citizens to pay in reais at a fixed exchange rate.
Brazilian FinTech Tako emerges from stealth with sizable seed round led by a16z and Ribbit Capital. Tako launched its product in 2023, with CEO Fernando Gadotti noting the company processed tens of millions in payroll while operating in stealth. He also said the company plans to expand as it grows into building more features like instant payments.
ARGENTINA
MercadoLibre misses third-quarter profit expectations on logistics, credit costs. MercadoLibre reported a 35% rise in Q3 revenue to $5.3 billion, in line with forecasts, but its net profit rose only 11%, missing estimates due to increased logistics and credit costs.
Argentina’s Ualá reaches $2.75 billion valuation in new funding. The Argentine neobank has raised $300 million from investors at a valuation of $2.75 billion, the latest funding haul for one of the most valuable startups in Latin America.
COLOMBIA
Yuno launches Smart Routing, a revolutionary payment solution leveraging proprietary data and intelligent algorithms, reinforcing its leadership in payment orchestration and commitment to empowering merchants with seamless, intelligent tech.