Argentine fintech firm Tapi has acquired Mastercard’s Arcus bill payment and cash-handling business in Mexico.
The move highlights the growing momentum around fintech consolidation in the region. The deal, described by Tapi officials as an all-cash transaction, was partially financed through USD 32 million in capital alongside company earnings.
While the transaction amount was not publicly disclosed, the acquisition significantly expands Tapi’s operational reach. It grants the company access to a new network of physical payment locations, including retail chains OXXO and 7-Eleven, and extends its integration with local billers across Mexico. Tapi currently serves regional digital finance firms, including Mercado Pago, DollarApp, and Stori, focusing on recurring payment flows and cash-based transactions.
Mexico's fintech sector enters a consolidation phase
The acquisition aligns with broader trends in Mexico’s financial technology landscape, which is showing signs of maturity. According to techniasia.com, after a period of rapid expansion, the market is now characterised by strategic acquisitions and scaling among established players. The same source reveals that, as of 2024, Mexico is home to 1,004 fintech companies, 803 of which are locally based. Sector revenue grew 31% in the past year, despite the rate of new company formation levelling off. suggesting a shift from market entry toward profitability and consolidation.
The Arcus unit's integration aims to improve Tapi’s hybrid service model that links digital systems with cash-based infrastructure. This approach remains particularly relevant in Mexico, where an estimated 90% of transactions still occur in cash, despite growing digital adoption.
Although cash use in Latin America has dropped in 2024, Mexico continues to show high demand for cash access, especially among unbanked populations and those engaged in informal economic activity.
Tapi anticipates processing more than 270 million transactions across Latin America by the end of the year, with total transaction value projected at USD 5.5 billion.
Regulatory support, mobile penetration, and evolving consumer preferences are all contributing to a shift in payment behaviour. Current forecasts suggest that by 2030, cash may account for less than 17% of payments in the region, with digital methods expected to dominate both e-commerce and point-of-sale channels.
