Mexico is one of the countries in the region that stands out the most in means of payment with technology and security. These are the opportunities for paytechs and businesses.

Latin America is a highly digitized region, where Internet penetration is on average 78% and this has generated a boost for eCommerce, which estimates online sales growth of 30% compared to the numbers registered in 2021.

The advance of digitization that triggered online sales also brings the need for new forms of payments and, with it, the emergence of fintechs and paytechs, the segment of the industry focused on transactions.

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These companies have helped give economies more dynamism, complementing the channels that traditional banking has historically offered.

Technology arrived to transform the business models of financial institutions and to boost the growth of companies and businesses. What's next in this evolutionary process and how will the end user benefit? Forbes Mexico brought together industry leaders, including Kushki, its recent acquisition Billpocket, and Mastercard, to speak at the webinar The Era of Resilient Payment Systems about the revolution driven by paytechs.

The appearance of paytechs is a disruptive event. Both Kushki and Billpocket have shaken up the market and made everything move faster. These technology companies provide solutions that traditional banks and players previously did not have or were slow to offer.

Of interest: The El Salto submarket concentrates 70% of the industrial demand of Guadalajara

Kushki, for example, has created in just five years connections and infrastructure in the five countries in which it participates –Mexico, Colombia, Ecuador, Peru and Chile– and operates a tool created from scratch and completely innovative. This unicorn offers advanced electronic payment capabilities that allow you to follow the trajectory of the transaction, from the moment it enters its platform until the final moment in which it is paid to the merchant or settled to the end user in the case of a transfer.

From Kushki they are convinced that there is great potential in the payment ecosystem: in Mexico, less than one in seven companies accept digital payments and less than half of Mexicans have access to formal financial services. This is the panorama of opportunities to take advantage of.

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