Payment Solutions to Grow in Latin America in 2023
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Payment Solutions to Grow in Latin America in 2023

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Thu, 03/02/2023 - 09:03

New technologies are revolutionizing many industries and in 2023, payment solutions are expected to hit a record in Latin America. People are increasingly making use of cards and countries are starting to attract more open perspectives on payment solutions. 


This and more in your weekly roundup! 


2023 to Bring Many Possibilities for Payment Solutions

A study by Kushki and Americas Market Intelligence suggests that 2023 will be a record year for new payment solutions in Latin America. The use of cash in the region has fallen to 36%, while credit cards are positioned as the primary means of electronic payment, representing 50% of e-commerce transactions and 20% of payments at a point of sale. Mexico is attracting more international non-bank acquirers, which suggests a more open perspective on payment solutions.

Klar Obtains Fintech License From Mexican Authorities

Klar Pago, Klar’s fintech division, obtained its fintech approval license from Mexican authorities. This license will allow the company to expand its operations in the country and offer its customers a wide range of financial services. With this license, Klar Pago acquires a competitive advantage as only 35 fintechs in Mexico are regulated. 

Energy Infrastructure: Focal Point of State-Sponsored Cyberattacks

As countries seek to reduce their reliance on Russian energy, the World Economic Forum (WEF) has reported that Russia has responded by launching state-sponsored cyberattacks targeting the energy infrastructure of those countries. This is expected to become an even more pressing issue as countries accelerate their transition toward sustainable energy, highlighting the need for increased cyber resilience.

Tudi Selects ThetaRay to Monitor Domestic Payments in Mexico

As Mexico's financial system faces increased scrutiny from regulators seeking to combat financial crimes, such as money laundering, Tudi, a mobile financial services company, has taken proactive measures to comply with new Fintech oversight standards. In partnership with ThetaRay, Tudi is leveraging its SaaS anti-money laundering (AML) solution to monitor, detect and flag transactions that may be suspected of financial crime. By adopting this technology, Tudi aims to position itself as a trusted and secure payment service platform for its users. 

Apple Watch to Take on Diabetes Management

Apple is developing a blood glucose monitor to track glucose levels without having to prick the skin for blood. The solution will be offered as part of Apple Watch’s capabilities.

The Power of the Payroll 

Carlos Ramírez, CEO and Founder, Pulpi, shares some insights on the future of payroll and its likely transformation. “You are about to find out where the payroll is headed and its impact on the traditional pay pattern, representing a new mechanism for financial wellness and education.” 

Photo by:   pixabay

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