UK-based fintech Transact365 has launched its Global Payments Platform in Latin America (LATAM), making it one of the largest alternative payment platforms in the region.
The move enables cross-border and local e-commerce transactions through bank transfers and local payment methods such as PIX and Boleto, ensuring that consumers in the region can transact online and that merchants have the ability to ‘to access.
Merchants across the LATAM region will be able to make local currency bank transfers and enable cash and other local cardless payment methods for domestic or cross-border transactions, connecting them with shoppers around the world. Transact365’s payment network in LATAM spans 10 national jurisdictions, including Mexico, Brazil, Colombia, Ecuador, Peru, El Salvador, and Costa Rica.
Using the Transact356 platform, merchants can benefit from B2B and B2C transactions and real-time payment confirmation capabilities, all powered by industry-leading payment solutions technology. Its commitment to security and anti-fraud measures also means that there is a greatly reduced risk of fraud or chargebacks once a transaction has been approved by Transact365.
Since its inception in 2017, Transact365 has built and expanded its coverage of banks in emerging and established markets, implementing commercial agreements and integrating operating systems. To date, Transact365 covers the majority of all LATAM banks, with plans to increase regional coverage in the coming months.
Transact365’s global payment network includes over 380 banks and 180,000 cash pickup locations in a multitude of countries, all accessible through a single integration.
Transact365’s expansion into LATAM is the latest in a series of expansions the global payments platform is preparing in established and emerging markets. Earlier this year, Transact365 was launched in India. High-growth scaling is also operational in Europe, Asia, Australia, North America and Africa.
Dan Fernandez, CEO of Transact365, said, “Our philosophy as a company has always been ‘Think Local, Go Global’, and we are proud to be able to offer our platform to LATAM merchants to facilitate their growth.
“Our launch in Latin America comes at a pivotal time for us at Transact365 – in less than five years since our inception, we are now one of the largest alternative payment platforms in LATAM.
“2022 will be a year of expansion and growth for Transact365. Having recently launched in India and other jurisdictions on the horizon, our mission is to become one of the world’s leading payment service providers with a access to the markets presenting the greatest opportunities for merchants. We look forward to seeing what more we can accomplish this year.”