Global issuer-processor Paymentology has established a strategic partnership with Mexico-based financial service provider Fondeadora to bring Apple Pay to the country.
Fondeadora claims it has become one of the front-runners in Mexico to offer payments to customers through the Apple Wallet. This payment service allows cardholders to quickly and securely make payments online or in-store with participating merchants that accept the payment type.
Its mobile app allows individuals and corporate clients to save, use and manage their money more efficiently. Through Fondeadora, customers can make payments across Argentina, Colombia, Costa Rica, Brazil, and Peru as well as anywhere else in the world that accepts Apple Pay.
By working with Paymentology’s payment services, Fondeadora can access faster transaction processing, advanced security measures and improved data analytics.
Speaking on the deal, Paymentology regional director LatAm Alejandro Del Rio said, “The digital economy in Mexico has flourished post COVID-19, and with it has come newfound consumer demands around digital ways to pay.
“Our cutting-edge payment technology and Fondeadora’s deep understanding of the needs of Mexican customers, has made us the perfect partners to lead the charge of the rapidly transforming financial services industry in Latin America.”
Fondeadora raised $14m for its Series A funding round in 2021. The round was backed by Portag3, Gradient Ventures and several angel investors.
In other Latin American FinTech news, Mexican unicorn Clara secured $90m in debt funding from Accial Capital.
Clara claims to be Latin America’s end-to-end business spend management company. Its features include locally issued corporate cards, bill pay, financing solutions and more.
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