The Canadian fintech is further expanding its network in Latin America to offer cross-border payments to eight countries and half a billion people.
Buckzy Paymentsa real-time cross-border payments network, announced that it has extended its payments network to all of Central and South America.
The Buckzy network now covers eight countries in the LATAM region – Argentina, Brazil, Chile, Colombia, Guatemala, Honduras, Mexico and Uruguay. As part of the expansion, Buckzy will also offer virtual account capability in each country’s national currencies, which banks, fintechs and other providers can offer to their customers.
commenting on the news, Abdul Naushad, President and CEO of Buckzy, said, “The pandemic has increased demand for digital financial services around the world, and Latin America is no exception. This region is considered one of the most important in terms of market opportunities with a large percentage of the population currently without access to the digital economy.
“This is a rapidly changing market and our infrastructures and solutions are perfectly suited to neobanks and fintechs looking to innovate in the region, as well as traditional players looking to improve their customer experience,” he said. -he explains. “There is enormous potential to democratize access to financial services in the region and we are now even better placed to support the growing financial services sector.”
Buckzy already provides connectivity to Guatemala and Honduras in Central America. Plans announced today extend the Buckzy network to six additional countries: Argentina, Brazil, Chile, Colombia, Mexico and Uruguay.
“Over the past few years, digital banking in Latin America has experienced extraordinary growth due to changing customer needs, rapidly changing regulatory standards, and expanding technology penetration – for example, according to Statista, some 73% of adults are should have a smartphone in South America by 2025, up from 69% in 2021, transforming the market for financial products and services in the region,” Naushad continued.
“These trends have created a huge opportunity to enhance the banking experience with tailored and personalized solutions for every area of money management. Our extensive payments network and integrated financial infrastructure enable real-time cross-border payments, while enabling traditional banks, financial institutions, neo-banks and fintechs to offer personalized and secure solutions delivered through an ecosystem of services financial institutions and a modern and flexible platform. “, he concluded.
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