albo, Paymentology Partner to Drive Mexico's Digital Finance

Paymentology, a global issuer-side payment processor, has announced a strategic partnership with Mexican neobank Albo to accelerate fintech growth and strengthen its position in personal and business financial services.

Founded in 2016 and headquartered in Mexico City, Albo serves over two million users, offering personal and business accounts, debit cards, payroll services, and savings solutions. Through commercial partners, it also provides credit and cryptocurrency services. In 2023, Albo reported an annual transaction volume of US$6.5 billion and secured US$60 million in credit to drive growth and work toward profitability.

With Paymentology’s advanced payment technology, Albo is expanding its services to small and medium-sized enterprises (SMEs). This includes facilitating payroll management and secure transactions through its digital platform. The commercial accounts have seen significant adoption among SMEs, further solidifying Albo's growing market presence.

Additionally, Albo has introduced 400 reload points across Mexico, enabling users to fund their cards free of charge. “We translate the transactional fabric and connections so businesses can have cards that work seamlessly and process payments almost instantly,” said Alejandro del Río, Regional Director, Paymentology, in an interview with MBN. “We are proud to support Albo in transforming financial services for millions of Mexicans,” he added.

Albo integrates dynamic CVV verification for virtual transactions and 3D Secure (3DS) technology for all payments, bolstered by advanced fraud detection systems. “Our partnership with Paymentology reflects our shared commitment to financial inclusion and advancing Mexico’s digital economy. Together, we aim to make secure and accessible financial solutions available to millions, empowering individuals and businesses alike,” said Ángel Sahagún, Founder and CEO of Albo.

The collaboration comes as Mexico’s digital payments market is projected to grow at nearly 10% annually from 2024 to 2028. Starting in November, Albo will also partner with Mastercard on a new initiative to further promote digital payment adoption nationwide.