MeaWallet announces partnership with Fondeadora

Under this partnership with MeaWallet, Fondeadora seeks to deliver secure digital payment services. According to the official press release, MeaWallet's expertise in card tokenisation has been instrumental in powering Fondeadora's offerings, including MeaWallet’s SDK Push Provisioning to enable Apple Pay, Google Pay, and integration with Mastercard Digital Enablement Service (MDES) through issuer processor Paymentology.

Furthermore, the press release states that in Mexico there is a growing preference for mobile and online banking driven by increasingly digital lifestyles. Despite a substantial unbanked population, 94% of Mexican consumers utilise mobile banking apps or online banking services. Moreover, alternative mobile payment services, independent of traditional bank accounts are popular with 96% of users embracing them, thus highlighting the clear demand for Fondeadora’s digital financial services. 

Tokenisation and Digital Enablement lie at the heart of the MeaWallet and Fondeadora partnership. By replacing sensitive card information with unique digital identifiers, payment tokenisation ensures secure transactions without exposing sensitive data.  

In addition, the integration of Mastercard Digital Enablement Service and MeaWallet's SDK Push provisioning further enhances the efficiency and accessibility of digital payment solutions. Push provisioning streamlines the card issuance process to digital wallets, offering a simplified experience for consumers while facilitating customer acquisition for wallet providers.  

Officials from Fondeadora commented that there is a clear appetite for new digital payment services, yet there are still 65 million people in Mexico who are excluded by conventional banking institutions. Therefore, Fondeadora is on a mission to give people control over their money. 

MeaWallet's mobile and digital payments and mobile wallets provide certified technology in more than 50 countries and more than 200 customers. In close relationships with Amex, Mastercard, Visa, Eftpos and other organisations, it is at the forefront of the mobile payments space.  

Fondeadora is a financial institution based in Mexico that aims to empower individuals and businesses to take control of their finances. Its mobile app seeks to provide a seamless and intuitive user experience, allowing users to open accounts, deposit funds, and manage their money all in one place.