Inswitch, a Fintech technology company with a focus on embedded solutions for banking and payments, and Mastercard International Incorporated have partnered “to design and deliver digital payment solutions and issuing programs starting with selected countries across LAC.”
Inswitch will “start issuing cards as a Mastercard principal member in Mexico, with plans to expand quickly to key markets in LAC and other regions in the future.”
This collaboration will “allow the company to extend its value proposition by offering digital and physical Mastercard branded cards for a broad range of applications across industries.”
Ronald Alvarenga, Inswitch’s CEO, said:
“Now our clients can issue branded cards to support different use cases: digital wallets, Buy now pay later, supplier payments, working capital for corporate expenses or cash management necessities; among others.”
In addition to the issuing program, Inswitch and Mastercard will work together “to integrate their respective assets and solutions offering an agnostic platform supporting different types of businesses: Business-to-Consumer, Business-to-Business, Consumer-to-Business.”
Through this strong collaboration, Mastercard and Inswitch are positioned “to deliver a robust turnkey solution in several verticals like eCommerce, Retailers, CPGs. Banks, Gig economy among others.”
Inswitch solves two urgent problems “for enterprises moving to the digital world: it provides a varied payment infrastructure to accelerate the transformation to e-commerce; and innovating beyond payments with a full digital wallet and banking platform; allowing any company to build and launch financial services fast, reliable and around the world.”
In addition to offering payments and banking all-in-one platform, and a superior user experience; Inswitch will be “providing Mastercard and its clients strong management tools to manage the business, including reporting, analytics, white label channels, automatic settlements, and reconciliations.”
Pablo Cuaron, Vice President Fintech & Enablers for Mastercard Mexico and Central America, remarked:
“We are very excited to have Inswitch as a Mastercard Issuer in Mexico to integrate issuing capabilities and extend the value proposition to all B2C and B2B clients for Inswitch and Mastercard. Inswitch is a company that combines payments, core banking and issuing products in a single stack, that facilities all companies to develop and launch financial services in multiple markets.”
As noted in the updte, Inswitch is “a global integrated financial technology company that helps companies to rapid activation of digital financial services through its omnichannel 360 Fintech-as-a-Service platform.”
Since 2002, Inswitch has “implemented more than 100 platforms in 30 countries in Latin America and the Caribbean.”
In addition, Inswitch has “processed over USD 9 billion in Total Payment Volume for more than 80 million users.”