Monday, May 20, 2024
spot_img
HomeBusinessEconomyFinTech Transact365 brings platform to Latam

FinTech Transact365 brings platform to Latam

By PYMNTS

UK FinTech Transact365 has launched its payments platform in Latin America, a move the company says makes it one of the region’s largest alternative finance platforms.

As Fintech & Finance News reported Thursday, February 17, the move allows for cross-border and local eCommerce transactions using local payment methods like PIX and Boleto, letting consumers make online transactions and giving merchants access to them.

Read more: Transact365 Brings Cross-Border Payments to India

The launch follows the FinTech’s rollout last month of cross-border payments in India. As PYMNTS reported at the time, that solution lets merchants access Indian markets without forming local payment partnerships or setting up a company in India, thus accessing a customer base of more than 1 billion people.

Latin American merchants can make bank transfers in local currencies and enable cash and non-card local payment methods for domestic and cross-border transactions. Transact365’s Latin American payment network includes Mexico, Brazil, Colombia, Ecuador, Peru, El Salvador and Costa Rica.

The company says its platform lets merchants benefit from B2B and B2C transactions and real-time payment confirmation capabilities, with “significantly reduced risk” of fraud or chargebacks once a Transact365 approves a transaction.

“Our ethos as a business has always been ‘Think Local, Go Global,’ and we are proud to be able to bring our platform to merchants across LATAM to help facilitate their growth,” said Dan Fernandez, the company’s chief executive officer. “Our launch in Latin America comes at a pivotal time for us at Transact365 – in less than five years since being founded, we are now one of the largest alternative payments platform in LATAM.”

Learn more: Payments Orchestration Smooths LatAm’s Path to Digital Commerce Hub

This year could be a pivotal one for digital payments in the region, Spreedly vice president of solution and success Daniel Scagnelli told PYMNTS last month. He noted his company’s business in Latin America grew 100 percent between 2020 and 2021.

“There are markets or pockets of markets around the world where folks might be worried about pandemic recovery and how it impacts digital commerce, whereas in Latin America, the rocket ship has left the launch bay, and it is moving,” he said.

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

APEC GDP expands to 3.5 percent in 2023: Uncertainties loom large

By the APEC Policy Support Unit AREQUIPA, Peru - APEC’s gross domestic product grew by 3.5 percent in 2023 compared to 2.6 percent in 2022....

Global News

On the inauguration of president Lai Ching-te and vice president Hs iao Bi-khim of the Republic of China (Taiwan) – May 20, 2024

By Jin-Ling Chen, Director General Taipei Economic and Cultural Office in Toronto TORONTO, Canada - The following is a statement from Jin-Ling Chen, Director General, Taipei...