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Prometeo launches its Payment API

Wednesday 9 June 2021 14:08 CET | News

Prometeo, the Open Banking API platform in Latin America, has announced the launch of its Payment API for the LATAM market.

Prometeo is on a mission to create an open and connected financial market in LATAM. The launch of its Payment API enables texchanges using banking infrastructure and API connectivity. The service is a "pay-per-bank" facilitator allowing digital money transfers and automated payments between financial institutions in LATAM, without credit card fees, delays, and complicated manual intervention. 

Prometeo's Payment API is already connected with banks that represent 80% of the market share in Colombia, Perú, and Ecuador. 

With the increased demand for fintech products due to the pandemic, Prometeo is committed to building a huge highway of financial information and payment initiation across financial institutions and LATAM countries to standardize and facilitate payment processes, transactions, and access to information.

By empowering companies through banking API, third-party financial service providers will accelerate their digital transformation strategies while consumers will receive better financial products, too: credit analysis development, bank account validation, centralized bill payments, financial education tools, electronic wallets, and payment tracking.

This product will be developed and the service will extend its reach throughout 2021, with new payment connections, to benefit many LATAM companies. 

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Keywords: Open Banking, API, payment initiation
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Latin America
This article is part of category

Banking & Fintech