This week, Open Payment Technologies launched Kuady, a digital wallet app. Designed to accelerate financial inclusion and transform how merchants and users manage their money, Kuady launched in Peru and Chile – giving global organizations access to these markets with seamless cross-border transactions – with further LatAm countries being added monthly. Expansion into Africa and Europe is planned to follow.
Operating under an Electronic Money Transmission Services license granted by the Isle of Man Financial Services Authority, Kuady will act as a payment service processor for merchants and offer an e-wallet app for customers. It provides chargeback protection and features to boost customer acquisition, retention, and activation. The digital wallet provides merchants with instant payouts for their customers. This feature provides a solution for individuals who struggle to access their funds and offers its users deposit options such as cards, online bank transfers, and cash.
“At Kuady, we are dedicated to fostering a sense of community that simplifies financial management, and we see Kuady as a beacon for business growth and longevity,” said Lorenzo Pellegrino, CEO. “Our digital wallet is intuitive, secure, and accessible to all, enabling us to promote financial inclusion and empower individuals and businesses.
“Seamless, secure transactions are crucial for everyday life, and our innovative platform is designed to be a one-stop solution for every financial need. With Kuady, we can realize our vision of advancing financial inclusion and giving individuals and businesses the tools they need to thrive in a global economy. It is the partner in your pocket for merchants and users alike.”
Pellegrino has almost 20 years of senior management experience. He most recently was chief operations and digital officer at PayRetailers. He was also CEO of Skrill and NETELLER, heading their digital wallets business and a marketing affiliate services company, Income Access, which are part of the Paysafe Group Plc. He devised Paysafe’s IPO on the New York Stock Exchange in 2021.
Prior to this role, Pellegrino was the executive vice president for digital development for Optimal Payments Plc from 2012 to 2015, where he led the company’s go-to-market strategy for the NETELLER wallet business and acquisition of Skrill. He spearheaded the company’s effort to integrate both wallet businesses, which the company said led to significant operational efficiencies and margin optimization. Before joining Optimal Payments, he held various executive-level positions at Skrill (previously known as Moneybookers) and led their business development efforts in the United States.
