Galileo, an API standard for card issuing, virtual card solutions and digital banking, is aiding Argentina based Fintech Ualá’s expansion into Mexico.
Moving into Mexico is Ualá’s first expansion outside its home country. Ualá is a Fintech with a mission to bring Latin American financial services into the 21st century. By incorporating an App and an international Mastercard, it seeks to provide services to the unbanked by offering cheaper and more convenient services than any other alternative. It was founded by the Argentine entrepreneur Pierpaolo Barbieri and launched in October 2017 and currently claims more than 2.5 million cards issued.
Ualá is now available throughout Mexico, for anyone over 18, in iOS and Android, the Ualá card can be topped up through SPEI transfers or cash deposits in more than 14,000 stores nationwide and used to make purchases using contactless, chip and offline PIN technology. The Udalá account also enables customers to conduct transactions, such as transferring and receiving money and withdrawing cash from ATMs.
Galileo helped Ualá’s expansion into Mexico by providing access to its suite of APIs. Galileo is directly connected to Mastercard MX to support real-time authorization for Ualá transactions and provides backend processing services for Ualá.
“Ualá has received global recognition and investment from some of the world’s biggest investors for good reason,” said Galileo In-Country Manager for Mexico Tory Jackson. “The company has revolutionized financial services in Argentina, and Galileo is honored to help facilitate Ualá’s expansion into Mexico. With Galileo providing processing services, Ualá can focus on what it does best: innovative payments and creating a financially inclusive environment for all.”
Andrea Arrebola, head of payments of Ualá, said that Mexico is a huge step forward for their company and they are “privileged” to have an established partner with Galileo.