ProntoPaga: the accelerated growth of paytech that is already in five Latam countries
Present in five countries and with more than 1.2 million users throughout Latin America, this fintech has become a relevant player in the Fintech ecosystem at a regional level.
With the aim of becoming a key player in the Fintech market, ProntoPaga was born with a different proposal: to offer comprehensive payment solutions to online businesses, including the option to make quick payments to end users. This paytech, created by Chileans Sebastián Salazar Bastidas and Evans Concha Soto, has quickly become a company with a Latin American reach, which is already operating in Chile, Ecuador, Peru, Mexico and Brazil.
The platform is presented as a very complete tool, with a solution that ranges from the payment of remunerations, payment orders, to refunds, among other services. In just two years of operations, it already processes more than USD 40 million per month, consolidating its position in the region’s fintech sector.
In this sense, ProntoPaga has promoted, in a short time, innovations and integrations throughout Latin America: in Chile they were the first to massify instant payments, today they also do it in Brazil and Mexico; while in Peru they offer the fastest dispersion in the country, while they are the only paytech that has incorporated “Deuna!” in Ecuador (Banco Pichincha’s wallet). At the same time, in the South American giant, they managed to improve the experience of the PIX (local electronic payment system), enhancing it with openfinance.
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“We consider ourselves leaders in the market, because we created a unique product that incorporates the complete ecosystems in each country, but that also has a very robust solution to disperse payments to third parties, for example remunerations, payment orders, returns, etc. and all in a centralized, very intuitive dashboard,” says Sebastián Salazar Bastidas, CEO and co-founder of ProntoPaga.
Differentiating elements
What makes them different from the other players in the market? According to its creators, one of the differentiating elements of this payment processor is its “agnostic” nature regarding the methods they add to their solution, in addition to its API allows you to connect all the services offered by ProntoPaga in Latam.
“You can turn on or off the different countries in which you want to operate, without the need to have a local entity to deploy your e-commerce,” says Salazar.
“Since its conception, ProntoPaga has operated as a solution aimed at offering services to other companies. Initially, we focused on the Chilean market as our starting point. We quickly expanded our services and improved quality by integrating various payment methods. This expansion led us to strengthen our fintech ecosystems throughout the region,” he says.
Of all the solutions offered by ProntoPaga, the main ones focus on the collection and rapid dispersion of payments, comprehensive payment solutions for companies. Collection, dispersion, treasury, reconciliation, all in the same Dashboard that is enabled by modules.
“We are currently processing around 40 million dollars per month in all the countries where we are and we serve approximately a little less than 2 million people, but we will end the year processing 100 million dollars per month,” says its founder.
The platform also offers exclusive modules, such as the balance sheet, which provides users with a detailed and real-time view of their transactions, sales and payments to suppliers, facilitating financial management.
In addition, its special “Pay4U” module allows payments of remuneration and other obligations to third parties in all the countries where they operate, with the aim of adapting and improving the platform to the needs of customers.
Safety
One of the main focuses that ProntoPaga has is security for all types of transactions. Today they have the PCI DSS (Payment Card Industry – Data Security Standard) certification, which is an international standard that seeks to establish good practices and standard rules on card transactions and guarantees an additional level of security for its users.
In addition, it offers a wide variety of payment methods, including credit cards, debit cards, prepaid, cash payments, digital wallets, bank transfers, and even cryptocurrencies.
2024 Projections
Currently, ProntoPaga is already opening operations in Argentina, Honduras, Guatemala, El Salvador and Venezuela. At the same time, they are in the process of obtaining fintech licenses in Mexico, Ecuador, Brazil and by the Bank of Spain, while they have already obtained them from the Ministry of Foreign Trade and Tourism Mincetur of Peru.