Inswitch, a fintech technology company with focus on embedded solutions for banking and payments, and Mastercard International Incorporated have partnered to design and deliver digital payment solutions and issuing programs starting with selected countries across LAC.
Inswitch will start issuing cards as a Mastercard principal member in Mexico, with plans to expand quickly to key markets in LAC and other regions in the future. This collaboration will allow the company to extend its value proposition by offering digital and physical Mastercard branded cards for a broad range of applications across industries: "Now our clients can issue branded cards to support different use cases: digital wallets, Buy now pay later, supplier payments, working capital for corporate expenses or cash management necessities; among others.”, said Ronald Alvarenga, Inswitch’s CEO.
In addition to the issuing program, Inswitch and Mastercard will work together to integrate their respective assets and solutions offering an agnostic platform supporting different types of businesses: Business-to-Consumer, Business-to-Business, Consumer-to-Business. Through this strong collaboration, Mastercard and Inswitch are position to deliver a robust turnkey solution in several verticals like eCommerce, Retailers, CPGs. Banks, Gig economy among others.
Inswitch solves two urgent problems for enterprises moving to the digital world: it provides a varied payment infrastructure to accelerate the transformation to e-commerce; and innovating beyond payments with a full digital wallet and banking platform; allowing any company to build and launch financial services fast, reliable and around the world. In addition to offering payments and banking all-in-one platform, and a superior user experience; Inswitch will be providing Mastercard and its clients strong management tools to manage the business, including reporting, analytics, white label channels, automatic settlements, and reconciliations.
“We are very excited to have Inswitch as a Mastercard Issuer in Mexico to integrate issuing capabilities and extend the value proposition to all B2C and B2B clients for Inswitch and Mastercard. Inswitch is a company that combines payments, core banking and issuing products in a single stack, that facilities all companies to develop and launch financial services in multiple markets'' said Pablo Cuaron, Vice President Fintech & Enablers for Mastercard Mexico and Central America.
Inswitch, a leader in embedded financial technologies focused on banking and payment solutions; and Fpay, the digital payments solution of Falabella group, have announced that they are working together in projects that enhance their payment capabilities in Peru, with the purpose of expanding rapidly to new key markets across LATAM.
Inswitch secure, fast, and easy-to-use, on-/off-ramp payment rails avoid the restrictions and issues presented by the legacy financial system and allow users to easily cash out fiat money that do not take days to settle.
The partnership between Binance Pay and Inswitch will provide millions of LATAM merchants with intriguing options in crypto space, allowing them to increase revenue by accepting crypto, and enable all companies with a new way to service payments.