Fintech scientists at Finnovista, an impact organization that empowers Fintech and Insurtech ecosystems in Latin America and Spain, recently announced the finalists for the third annual Visa Everywhere Initiative, a competition in collaboration with the credit company seeking to stimulate the region’s most promising fintechs.
Over 190 Latin American startups applied but only 24 projects were chosen two participate in four Collaborative Innovation Workshops. These took place in Mexico City, Bogota, Buenos Aires, in addition to Sao Paulo.
Among these groups, the most promising 12 were selected to generate pilots and Proof of Concepts in hopes of improving the payment industry alongside Visa. Below are the chosen startups:
Buy now and pay later is Flexio’s motto. Its solution allows users to set up payment installments for online debit card purchases. For example, a US$650 purchase can be paid over three months with payments of US$234 a month, six months for US$126, or 12 months for US$73.
A “logistics fintech” as they call themselves, this solution monitors the sending and activation of credit or debit cards. Financial institutions can then make sure their cards were properly delivered and activated by customers.
Unphased by international boundaries, this tool caters to startups, e-commerce platforms and entrepreneurs, allowing them to accept credit and debit card payments from anywhere in the world. Partners can reportedly sign up and start selling in less than 24 hours.
Users can manage their entire eCommerce sales cycle directly from their smartphones over social media networks. Increased sales and optimized time is what Peiky guarantees to its customers wanting to improve management.
To mobilize small businesses, this virtual platform helps mom-and-pop grocery stores accept electronic payments. According to its website, it has over 10,300 shopkeepers registered within its network. Even better, it’s growing 16 percent a month. Over the last year, TiendAPP has facilitated approximately 950,000 transactions
Developing and optimizing credit products is what Zinobe does with its automated platform. With this software, clients not only collect and process payments but also analyzes them to make the most efficient business decisions.
With some of the best rates available, this platform allows users to request cash in the desired currency for pick up or delivery. Moreover, the “home banking” option allows users to make electronic transfers. Once you send the proof of transfer over the app, Druber makes the currency exchange and deposits the money within two hours.
Pareto SA (Argentina)
Not only is Pareto a digital loan platform but also a loyalty program offering a variety of perks. These include discounts based on customer or business segmentization, notifications personalization, etc.
Restaurants, gyms, hotels, among other establishments, use Facenote’s biometric solution to accept digital payments via facial identification technology. All that customers need to do is take a selfie. From there, Facenote keeps track of customers purchasing behavior and shopping behavior to influence purchases.
Making transfers without needing bank data or paying high fees is completely possible with this digital entity. As a neobank, DinDin primarily serves B2B as well as B2C partners to assist them in running their business.
Cryptocurrencies as well as blockchain technology are part of this digital bank’s platform. Specifically, ZroBank has two products. These include the Zro Pay payment solution as well as the Zro Wallet for digital bank transactions.
Zen Finance (Brazil)
Based on Zen Finance’s website, its the first “fintech as a solution” in Brazil developing customized financial products. Besides a virtual wallet, it also offers credits and rewards, all to generate more value for customers.