Kushki, a payments technology company in Latin America, unveiled its next-generation merchant acquiring service. Kushki is the first non-bank merchant acquirer in the region.
Previously, merchants in Latin America had to navigate a system reliant on multiple local acquirer processors. These processors often lacked incentives for innovation and broader market access. Regulatory changes in the region have now allowed companies like Kushki to operate differently, with approvals in Mexico, Chile, Peru, and Colombia.
“We invite businesses to use it widely, either directly or build a payment company on top of us. As the first regional acquirer, we will be able to make payment innovation more accessible and give stores and payment services providers more control over their transactions.” said Aron Schwarzkopf, co-founder and CEO of Kushki.
While the broader market faces challenges with transaction speeds and processing stability due to economic fluctuations, Kushki’s new service offers a potential solution by providing direct connections to primary payment networks and bypassing intermediaries.
Read more at newswire.com
