PayGoal, Bancard to launch Tokefon in Paraguay

Tokefon represents a solution that uses NFC technology from smartphones to accept contactless payments and is set to boost not only digitalisation in the South American country but also promote financial inclusion.

What does Tokefon do?

With the launch of Tokefon by Bancard, over 70,000 businesses of all sizes will be able to implement contactless payments directly from their smartphones, transforming them into portable POS, without any other expensive infrastructure required. Thus, SMEs, personal ventures, and other local businesses will be able to access practical, simple, low-cost, and secure digital payment solutions to drive financial inclusion. Tokefon can accept debit, credit, and QR card payments, helping small businesses across Paraguay to digitalise, allowing customers to pay cashless and securely.

During the past few years, the launches of solutions for the payment/collection ecosystem in Paraguay was heavily based on consumers but, thanks to the new technology provided by Bancard, merchants can also expand the local digital payments infrastructure and, thus, collect payments easily. By partnering with PayGoal, Bancard simplifies electronic collection of payments without additional investments in a heavy infrastructure.

Argetina-based fintech PayGoal has recently partnered with Paraguay-based acquirer Bancard to launch Tokefon in Paraguay.

What’s next in store for PayGoal and Bancad

Apart from the strategic collaboration with Bancard, PayGoal aims to launch similar product with a different client that also seeks to boost digitalisation and transform the payments infrastructure in Uruguay. In Argentina, PayGoal has been closely working for the past five years with large clients such as Payway and MODO and is currently in a process of full integration with Cybersource by Visa.

At the same time, Bancard is the network that accepts the largest number of local and international brands and provides a series of payment solutions, from softPOS and mPOS services to QR payments, collection, and others.