The US-headquartered financial technology giant, Mastercard has issued an announcement noting its acquisition of Arcus FI to facilitate real-time payment applications across the Latin American region.
Through its latest acquisition, Mastercard will now be able to properly and seamlessly launch its Bill Pay solutions across Latin America.
Arcus is a financial technology platform that enables cash-in and cash-out services for some of the largest retail and financial institutions in the US and Mexico.
With operational presence in New York and Mexico City, Arcus provides different solutions including its flagship service Arcus Pay Network that is now connected with some of the largest retailers in Mexico.
Not long ago, the platform of Arcus obtained an approval from Mexico’s real-time Interbank Electronic Payment System. In addition, the firm has played an major role in the rise of digital payment solutions in Latin America.
“The past year has shown how critical digital solutions are for people and businesses across the region. With the addition of the Arcus team, we will enhance existing payment experiences and create new opportunities to address everyday needs by connecting more people to the digital economy,” said Laura Cruz, the Division President for Mexico and Central America at Mastercard.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.