Inswitch introduces CLABE payment processing, simplifying transactions for over 4M Mexican merchants

Inswitch provides the optimal choice for SPEI, having processed payments since 2020, offering both in and out modalities, and providing now the ability to generate virtual CLABE accounts for individual users.

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Our payment stack keeps growing, now with the launch of CLABE payment processing in Mexico for all our customers. This is big news for over 4 million merchants in the country who will now have access to this feature, which has been specifically designed to simplify payments and make transactions faster and more secure.

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But…what is CLABE, and how does it work?

CLABE stands for the Spanish term “Clave Bancaria Estandarizada”, which is a standardized bank account number format used in Mexico. The CLABE format includes the bank code, branch code, and account number, which are used to uniquely identify each bank account in the country. By using CLABE, payments can be easily and securely transferred between banks, without the need for manual intervention or processing.

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With CLABE, Mexican merchants can now accept payments in a more streamlined way, without the need for traditional payment processing methods that can be slow, expensive, and prone to errors. By integrating CLABE into their existing payment systems, businesses can enjoy faster transaction processing times, reduced costs, and improved security, all of which can help them to better serve their customers and grow their businesses.

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Are you looking to boost your revenue by offering new payment methods for your business or company? Our team of sales experts can help you find the right payment solutions to meet your needs. Whether you're looking to accept payments online, in-person, or via mobile devices, we have the expertise and technology to make it happen. Contact us today and start maximizing your earnings!

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