Ualá launches mobile payments in Mexico

Thursday 28 April 2022 10:44 CET | News

Argentina-based Ualá, a mobile payments company, has announced its expansion into merchant services in Mexico.

The company is launching mobile point-of-sales (mPOS) units, allowing small businesses to process payments on site and receive an immediate deposit of the sales in their bank accounts. Businesses will also be able to charge via payment links.

Ualá, which provides a slew of financial services based on a prepaid card managed through a mobile app, expects to invest as much as USD 100 million over the next two years in launching new products and scaling existing operations in Mexico country. 

The company will charge a 2.99% fee per sale for merchants using its mPOS units. Units will cost about USD 17 and can be acquired on the company’s app and website. Ualá was valued at USD 2.5 billion in its latest funding round and launched operations in Colombia earlier in 2022. The startup is also backed by Japanese conglomerate SoftBank Group. 

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Keywords: mobile payments, mPOS, mobile money, startup
Categories: Payments & Commerce
Companies: Ualá
Countries: Mexico
This article is part of category

Payments & Commerce


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