30 October, 2020
Visa Acquires YellowPepper; Afterbanks comes to Latam; Fintechs in Colombia grow

#TopNews: Here’s the key stories in digital banking and fintech in Latin America this week

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By Fabiola Seminario

 

Visa acquires YellowPepper

Visa announced a definitive agreement to buy YellowPepper, a Latin American mobile banking and payment solutions fintech, which has created solutions such as Emma in Costa Rica. YellowPepper will facilitate integration with Visa Direct and Visa B2B Connect, real-time and cross-border payment tools.

Afterbanks lands in Latin America

Afterbanks, a fintech owned by Indra, has arrived in Mexico as the first stopping point in its internationalization process in the region. Afterbanks offers alternative instant payment methods and real-time banking details for making credit decisions.

Credit fintechs in Argentina must meet the same standards as banks

Argentine Ffintech credit, non-financial credit card issuers and appliance companies that offer financing must comply with the Financial Entities Law, under new rules on user protection and transparency in interest rates, published by the Argentine Central Bank .

See also: Innovation strategy: BCP targets SMEs and young people

Fintech sector in Colombia grows 200%

Colombia is becoming the new fintech center of attention in Latin America. The country consolidated an increase of up to 200% in funds from said sector, with 1.6 trillion dollars in income reported to the Superintendency of Industry Companies.

GLEIF and Open Future World partner

Global Legal Entity Identifier Foundation (GLEIF) and Open Future World announced a new directory tool to help Open Banking and Open Finance organizations collaborate. It is a directory of open banking and open finance companies, including legal entity identifiers.

See also: Latam fintech investment turns virtual – mostly

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