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The future of finance in LatAm & the Caribbean

July 24, 2021

PayPal and Mercado Libre join forces; Samsung Joins Nubi; Financial inclusion in Latam grows

Oct 23, 2020

By Fabiola Seminario
PayPal

#TopNews: The most important news of the week on digital banking and fintech in Latin America

 

PayPal and Mercado Libre join forces in Mexico and Brazil

Mercado Libre and PayPal, two leaders in e-commerce and online payments, integrated their services for Mexico and Brazil. The deal means PayPal will be available as a payment option for merchants in those countries that accept Mercado Pago, and customers will be able to make payments with PayPal within the Mercado Libre marketplace.

Financial inclusion in Latam: 40m people get bank accounts amid Covid-19

About 40 million people in Latin America have been banked in the last five months, according to the latest report from Americas Market Intelligence in association with MasterCard. In the wake of the pandemic, the lack of financial inclusion became more apparent, but it also drove people to “go digital.”

Samsung forms alliance with Nubi

Samsung and the Argentine financial solutions fintech Nubi, have teamed up to provide a pre-installed digital account on the South Korean firm’s mobile devices. Nubi Account, backed by Visa, will allow Samsung customers to finance their smartphone purchase without a credit card.

MAYA Capital will invest US $ 41M in Latam

Venture capital and private equity company MAYA Capital has raised a $41 million fund. With the new resources, the fund aims to expand its portfolio, reaching a maximum of 35 startups.

Klar raises investment round for US $ 15 million

The Mexican Challenger Bank, Klar, has just closed its Series A round for US $ 15 million thanks to the participation of Prosus Ventures and the IFC of the World Bank (WB). The priority, they indicate, is to increase the volume of specialists in the company.

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