Prometeo launches A2A payment solution in Mexico

Ellie Duncan
08 Mar 2024

Fintech infrastructure company Prometeo has launched its account-to-account payments product in Mexico, bringing a new embedded solution for businesses to the market.

The new ready-to-use solution will enable real-time payments directly to a bank account, removing the need for intermediaries, and can be implemented “in a matter of days”.

Businesses can already access this payment solution in six countries, including Brazil, Colombia, Ecuador, Uruguay, and now Mexico, all through a single integration.

It also offers a direct connection to the Banco de México (Banxico) network, providing access to all Mexican banks.

Ximena Aleman, co-founder and co-chief executive officer of Prometeo said: “Observing the experience in other Latin American countries, we believe that account-to-account payments can change the payment landscape in Mexico.

“Because of this, it is crucial to provide an enriched user experience and work on market-wide implementation.”

Prometeo cited recent data published by US financial company FIS which found that, between 2021 and 2022, bank transfer payments increased by 71% in Latin America.

“Leading the expansion of this innovative product in a country where only around 50% of the population has at least one bank account, according to the latest National Financial Inclusion Survey, is a challenge that fills me with pride,” said Rosario Flores Vidal, head of product at Prometeo. 

“We are automating the payment process with an embedded and secure solution, where all purchase data is available in one place and in real-time, taking the payment experience to the next level.”

Aleman added that the release of the product in Mexico is part of its wider expansion strategy, which is focused on “connecting global and regional companies with financial institutions in Latin America, creating an infrastructure layer that standardises their operations across the continent”.

Prometeo confirmed plans to expand its account-to-account payments offering to generate payments through personalised links and QR codes.