Instant payment system Pix has overtaken credit and debit cards as the most used means of payment in Brazil.
Despite a challenging scenario for Latin American fintechs, neobanks and digital wallets in Brazil continue to sign up millions of clients.
QED raised $1B in funding to back fintech startups. Partner Mike Packer talked to Fintech Nexus to discuss its impact on Latin America.
Fintech unicorn Ualá finally obtained a banking license in Mexico, clearing the way for the neobank to aggressively expand its product suite.
Fintechs in Mexico draw funding to cater to underbanked SMEs and individuals. Kapital tapped $65 million, while Stori secured $50 million.
Fintechs are diversifying to survive, adding solutions to monetize their customer base and reduce dependence on riskier lines of business.
Latin American fintech Kiwi raised $80 million in funding to boost lending to underbanked Latino migrants in the United States.
Nubank is developing a risk appetite for unsecured loans, while it expects to roll out payroll lending in the following quarters.
Latam fintech associations made a significant stride last week by publishing a document proposing joint regulations for open finance.
Nomad, which offers dollar accounts to Brazilians, will now allow its customers to pay in installments for purchases made abroad.