Openpay expands into Colombia with BBVA to boost e-commerce

LatamList – Openpay, a Mexican payment platform, recently arrived in Colombia to become the “e-commerce ally to businesses”. The platform allows SMEs to process payments online while respecting social distancing measures during the pandemic.

“In the last five years, e-commerce in Colombia grew by 25%, however, many companies still are not active on these channels,” said Nicolás Rodriguez, Country Manager at OpenPay.

Rodriguez added that Openpay expects to achieve a 5% market share within its first year in the country.

Openpay’s solutions can be used with online stores, subscription payments, mobile apps, marketplaces, and transfers. There is also an option for companies that do not have a website or an app.

With COVID-19 greatly affecting the innovation capacity of companies across the globe, companies are adopting new ways of working within the permitted guidelines. Openpay was acquired by BBVA in 2016, which is also transforming itself to become a “smart organization”, capable of anticipating and adapting to the changes in our global society.

“We now have a unique opportunity to rethink and redesign the way we work. Not just methods, but talent management in general: how we attract and retain talent, and how we can conceive talent in the most decentralized way, not pinned on certain physical locations,” said Ricardo Forcano, Global Head of Engineering and Organization at BBVA.

 The company has incorporated new initiatives as a result:

  • 95% of employees are working from home
  • Remote operation of the BBVA call center
  • Financial grace periods for clients, providers, and financial operators
  • A $360K donation to food relief efforts during the pandemic
  • Remote digital learning to aid employees in remote working.

These measures will be in place for the foreseeable future until employees return to offices after lockdown.

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