Kushki received approval from the Financial Market Commission in Chile (CMF) to operate as a non-bank acquirer in the country. This regulatory clearance represents a significant milestone in the company’s consolidation efforts throughout Latin America.
“The entry of Kushki into the acquiring market is in line with our goal of connecting Latin America with open, modern, and secure payment solutions. We constantly work to find new payment technologies that benefit consumers, continuously diversifying our product and service offerings to meet the needs of high transactional customers while contributing to the development of the financial ecosystem in our country,” said Rodrigo Quijada, Kushki’s Country Manager in Chile.
The company has been experiencing solid growth in Mexico, Perú, and Colombia, and entry into the Chilean market is a key component of Kushki’s broader regional expansion strategy. The pay tech startup now has Ecuador, its home country, in sight.
Kushki’s innovative systems allow businesses to receive payments directly into their local bank accounts, enabling them to expand their operations beyond geographical borders. This interoperability across the markets where Kushki operates offers businesses enhanced convenience and flexibility.
In addition to the announcement, Kushki will implement a 3DS system for a “much more secure transaction with fewer frictions and authentications.” This technology enables tracing the operation from start to finish to preserve security.
In 2022, Kushki achieved remarkable growth of 100% in Latin America and 80% in Chile. The local team in Chile works to drive double-digit growth in the country.