Kushki expands as an acquirer in four Latin American countries

Kushki, an Ecuadorian fintech unicorn, embarked on its journey as a payment service provider (PSP) eight years ago. However, in a strategic move last year, the company diversified its business model to incorporate physical payment methods, marking a significant shift in its operations.

This transformation positioned Kushki as the pioneering non-bank regional acquirer in Latin America, a testament to its innovative approach in the fintech industry. Presently, Kushki operates as an acquirer in key Latin American markets such as Colombia, Peru, Mexico, and Chile, solidifying its presence and influence in the region.

Furthermore, the company has obtained licenses from major payment networks like Visa and Mastercard, underscoring its commitment to compliance and partnership with industry leaders.During the Chile Fintech Forum in Santiago, Rodrigo Quijada, Kushki's country manager in Chile, emphasized the significance of this expansion. He outlined that when a customer in Chile engages with Kushki's services, they seamlessly become part of the company's network spanning all operational countries.

This streamlined integration process eliminates the necessity for individual negotiations in each country, simplifying the payment experience for clients and showcasing Kushki's commitment to efficiency and convenience in cross-border transactions.As part of its aggressive growth strategy, Kushki is focusing on expanding "card-present" transactions, enabling users to make payments using physical cards at point-of-sale (POS) terminals.

This strategic move builds upon the knowledge and experience gained from the acquisition of Mexican company Billpocket two years ago. Billpocket boasts a network of over 500,000 operational terminals, providing Kushki with a solid foundation to enhance its card-present transaction capabilities and further solidify its position in the market.

Kushki places a strong emphasis on its operations in Chile and Mexico, recognizing the significant interest and potential opportunities present in these markets. Rodrigo Quijada highlighted that Kushki stands out by offering a distinctive regional acquiring experience, distinguishing itself from other providers that typically necessitate separate contracts for services in individual countries. This streamlined approach underscores Kushki's commitment to providing a seamless and efficient payment solution for businesses operating across multiple Latin American countries.

Looking towards the future, Rodrigo Quijada identified three key trends that Kushki is focusing on: the digitalization of points of sale (POS), omnichannel capabilities, and frictionless security. These trends reflect Kushki's commitment to staying at the forefront of technological advancements in the fintech industry and ensuring a seamless and secure payment experience for its customers. By embracing these trends, Kushki aims to enhance its services and adapt to the evolving needs of businesses and consumers in the digital age.

Kushki's expansion efforts and strategic emphasis on regional acquiring and cutting-edge payment technologies have solidified its position as a frontrunner in the ever-evolving Latin American fintech landscape. By staying ahead of industry trends and continuously innovating its services, Kushki demonstrates its commitment to providing top-notch solutions that cater to the dynamic needs of businesses and consumers in the region.As a leader in the Latin American fintech sector, Kushki sets a high standard for excellence and innovation, paving the way for continued growth and success in the competitive market.