The company projects it will process around $400 million in payments this year in the five countries in which it operate.

FINLAC, a joint effort by the IDB, IDB Invest and IDB Lab, serves as a one-stop shop for advancing financial inclusion, supporting governments, accompanying firms, and igniting innovation in developing and implementing effective policies, reforms and business practices to create inclusive financial markets in the region.

Latin American fintech Clara has launched a payment account in Brazil that it expects will help it reach $1.23 billion in transactions in 2024.

International payments in rising markets company EBANX has been authorized by the Central Bank of Brazil to offer a payment initiator service via Brazil’s instant payment platform Pix. 

Colombia is looking to minimize the use of cash in the country and boost the financial inclusion of its most vulnerable citizens.

EasyCash has become the first mobile payment application for Wallet Factory that was made to align with the Egyptian interoperability market standards for QR code-based digital payments and acceptance.

Brazil’s central bank has authorized testing of payments via Facebook Inc’s messaging service WhatsApp in the country easing an outright ban on the service imposed last month.