Open banking promises to forge new financial ecosystems as data is shared among banks, corporates and consumers. Easier said than done. Banks must be on board. Corporates must be on board. And the technological underpinnings must be in place to connect and transmit information in...
Clara, a Latin American FinTech company, has launched a payment account in Brazil. The new payment account offering complements Clara’s existing range of products, which includes corporate cards and expense management solutions, Reuters reported Tuesday (Nov. 28). With this expansion, clients in Brazil will gain access to...
Latin America is in the midst of a historical digital commerce boom. The region’s market of small- to mid-sized businesses and professionals that offer digital services has grown rapidly, and this transformation is also reshaping the LatAm payments space. This digital growth represents a massive...
The two biggest economies in South America are reportedly working on a common currency. Brazil and Argentina will announce the project this week, the Financial Times (FT) reported Saturday (Jan. 21), noting that the move could someday create the second-biggest currency bloc on the planet. “There...
With a growing amount of investment and commerce appearing to be headed to Latin America over the long term, JPMorgan Chase & Co. reportedly expects to continue growing its financial services offerings in the region. Latin America is benefiting from the nearshoring trend of manufacturing...
Argentina-based FinTech Uala will let its customers in Mexico receive money from abroad in an attempt to capitalize on the burgeoning $60 billion remittances market. The new service will be overseen by ABC Capital, a Mexican bank Uala is in the process of acquiring, Bloomberg...
The pandemic accelerated the digitization of companies’ customer interactions by as much as four years and the share of their digital product offerings by an astounding seven years. As companies across the globe worked double-time to develop digital- and mobile-first platforms to adapt to pandemic-related...
Brazil’s bold steps toward digital adoption and the launch of instant payments network Pix are slowly chipping away at cash. It's why Luis Silva, CEO of payment network provider CloudWalk, tells PYMNTS he and others have high hopes for the burgeoning digital payments market in...
As the world adopts digital payment options at a breakneck pace, Latin American countries have typically lagged in the shift away from cash to alternative payment methods, including digital wallets, QR codes and other contactless payment options. With recent research indicating that economic growth is...
