Prometeo has become Latin America’s first company to offer Account-to-Account (A2A) payments. The fintech is the largest Open Banking platform in Latin America.
The company provides a single point of access to information and transactions, and its goal is to create the financial services infrastructure of the future.
The A2A payments solution solves issues that are associated with traditional payment methods. Through a ready-to-use widget, customers can embed bank account payments into their digital channels. The company shared in detail how this process works:
“When paying, users can select their country, financial institution, and log in with their bank account credentials to confirm the payment. Then the payment goes directly from their bank account to the merchants bank account through Prometeo’s API infrastructure: there are no intermediaries, which makes the user’s purchasing experience fast and with no chargeback costs.”
Ximena Aleman, co-founder and co-CEO of Prometeo, shared some insights on the launching of this product:
“We believe that payment infrastructure is the natural next step for Open Banking in the region. With our A2A payment solution, we are completely changing the paradigm for digital payments, allowing our customers to turn their own bank accounts into their payment gateways.
This service is already available in Colombia, Peru, and Uruguay and will soon expand to Mexico and Chile.
Read more on Prometeo’s blog.