With the adoption of ‘open banking’ thriving in LATAM, the ‘pay-per-bank’ feature promises to revolutionize financial interoperability and create opportunities in the region.
Prometeo, the largest Open Banking API platform in Latin America (LATAM), announces the launch of its Payment API for the LATAM market, a purpose-built solution that addresses the lack of automated and standardized infrastructure for payments and money management in LATAM.
The service is a “pay-per-bank” facilitator allowing digital money transfers and automated payments between financial institutions in LATAM, without credit card fees, delays, and complicated manual intervention.
“The financial sector and the array of payment options in LATAM must be modernized as cash is still king. Prometeo tackles these issues and provides key infrastructure for financial companies operating across the financially underserved region,” stated Ximena Aleman, co-founder and co-CEO at Prometeo.
Prometeo’s Payment API is already connected with banks that represent 80% of the market share in Colombia, Perú, and Ecuador, and the service will extend its reach throughout 2021 with new payment connections.
