Kushki is now a payment acquirer in LATAM

Wednesday 11 October 2023 11:53 CET | News

Paytech company Kushki has become the first next-gen merchant acquirer in Latin America and includes primary membership with Visa and Mastercard in Mexico, Chile, Peru, and Colombia.


The company’s new merchant acquiring service is delivered through a single proprietary processing platform, making it one of the largest acquirers in the region by coverage. It is set to make card transactions increasingly accessible while concomitantly standardising and consolidating fragmentation throughout the area. Furthermore, it is set to further improve acceptance rates, overall settlement performance, and underwriting, with Kushki anticipating this to result in a 300% operations growth in the region.

Kushki’s role as a payment acquirer in Latin America

Kushki offers direct connections to primary payment networks, meaning that merchants and other businesses looking to partake in the regional payment ecosystem will be enabled to directly link to and communicate with payment networks and systems in Latin America, free of reliance on additional intermediaries or third-party banking institutions. 

The new model will offer benefits for merchants and customers paying in both physical and online stores, including expedited transactions, increased stability and traceability in transaction processing, and a more tailored service. Through ongoing innovation, Kushki seeks to provide a modern technology platform with a complete understanding of regional payment regulations that new market players require to succeed.

Kushki is now a payment acquirer in LATAM

Up to this point, Latin America-based merchant and payment companies had to depend on one or more local acquirer processors per country, which have usually been operating as monopolies established in the 90s with little incentive to create broader access to the ecosystem or to innovate their legacy infrastructure. This has prompted regional regulators to cooperate with companies like Kushki to open the market and broaden the ecosystem, and 7 years following its founding, the company was approved by regulators in the countries mentioned above as a non-bank entity operating as a merchant acquirer.

When commenting on the announcement, Kushki officials advised that, as the first regional acquirer, the company is to be enabled to make payment innovation more accessible and provide stores and payment service providers with increased control over their transactions.

The press release further highlights that this is another important initiative from Kushki, which launched last year a business division, namely Kushki Mundial, to enable global clients’ access to its payment technologies in the Latin America region from anywhere worldwide, connecting with local alternative payment companies and platforms. What is more, other significant developments include its acquisition of the financial services company Billpocket in Mexico.

Kushki’s offering and mission

Kushki looks to connect Latin America through payments and provide businesses in the area with the technology tools to decrease transaction costs and complexity while bettering acceptance rates and reducing fraud. The company plays a key role in the payment ecosystem, being a non-bank regional aggregator, gateway, and acquirer.

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Keywords: Acquirer, partnership, payments , paytech, transactions , payment processing, settlement, merchants, regulation, fintech
Categories: Payments & Commerce
Companies: Kushki, Mastercard, Visa
Countries: Latin America
This article is part of category

Payments & Commerce






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