Visa and Mastercard expand payments solutions in Latin America

Visa and Mastercard are further expanding their payment solutions and networks in Latin America, namely in Colombia and Uruguay. 

In the case of Visa, the payments giant’s Visa Direct service will now be accessible in Colombia via Nuvei, the Canadian fintech company.

As to Mastercard, the company is bringing its Biometric Checkout Program to Uruguay via a partnership with Ingenico, Fulcrum Biometrics, Fujitsu Frontech, and Scanntech. Shoppers will be able to pay with the palm of their hands.

Visa Direct enters Colombia via Nuvei

Visa Direct is a VisaNet processing capability that allows safe, convenient, near real-time funds delivery directly to financial accounts using card credentials. Visa Direct clients use the capability to enable use cases such as person-to-person (P2P) payments, funds disbursements, bill pay, or cross-border remittances directly to an eligible debit or prepaid card.

The service is available to Colombian merchants directly through their existing single integration to Nuvei’s full-stack modular payments technology platform. With Visa Direct, Nuvei merchants are able to provide instant payout capabilities to their customers, with transactions routed and processed in near real-time. Instant payouts to cards enable businesses to offer a faster, secure, and seamless payment experience for customers across virtually any industry that is reliant on payouts.

Nuvei is adopting the first-mover strategy in Colombia. Not only it has integrated with Visa aDirect, but it had previously been the first global payments provider to offer direct local acquiring in Colombia, enabling online businesses to accept card payments from their customers without relying on intermediaries or third-party payment processors.

Visa Direct is available to Nuvei’s partner merchants in over 30 countries in Europe including the UK, as well as the U.S. and Canada in North America and Hong Kong and Singapore in APAC.

Mastercard expands Biometric Checkout Program to Uruguay

Mastercard has expanded its global Biometric Checkout Program in Latin America via a partnership with Ingenico, Fulcrum Biometrics, Fujitsu Frontech, and Scanntech.

This is the first Biometric Checkout Program pilot that allows shoppers to pay with their palms and the second pilot in Latin Ameica. Shoppers can register their information, payment credentials and biometric on-site and pay for their goods by placing their hand over a sensor at the payment terminal.

The Biometric Checkout Program allows for faster payment and shorter lines at checkout, and integrates with loyalty programs, leading to an enhanced and personalized customer experience.

Mastercard’s Biometric Checkout Program represents a first-of-its-kind technology framework to establish standards for new ways to pay in-store. A cutting-edge payment system, developed by Ingenico and Fulcrum Biometrics, a Fujitsu company, enables pilot participants to register their palm biometrics and link it to any debit, prepaid or credit card, allowing them to seamlessly pay without a wallet or device.