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Kushki becomes the first regional, next-generation payment acquirer in Latin America

Kushki becomes the first regional, next-generation payment acquirer in Latin America

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Aron Schwarzkopf and Sebastián Castro Galnares

Kushki, a payments technology company that connects Latin America through payments, announced it has become the first next-generation merchant acquirer in the region. This includes primary membership with Visa and Mastercard in Mexico, Chile, Peru and Colombia through a partnership, all delivered through a standardised modern proprietary processing platform, making it one of the largest acquirers in the region by coverage.

Until today, merchants and payment companies in Latin America were obliged to depend on one or more local acquirer processors per country which usually have operated as monopolies established in the 90s with little incentive to create broader access into the ecosystem, or innovate their legacy infrastructure. This has prompted regulators across the region to work with companies like Kushki to open the market and broaden the ecosystem. After seven years since its founding, the company has been approved by local regulators in the named countries, becoming the first non-bank entity to be approved to operate as a merchant acquirer.

Kushki stands out by offering direct connections to primary payment networks. This means merchants and other businesses that wish to be part of the regional payment ecosystem will be able to directly link to and communicate with top payment networks and systems in Latin America without relying on additional intermediaries or third party banking institutions.

The new model will provide benefits for both merchants and customers paying in both physical and online stores, including faster transactions, increased stability and traceability in transaction processing and a more tailored service.

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