Paymentology, the leading global issuer-processor, today announces its partnership with Nelo, a consumer payments platform in Mexico, to support its Mastercard in-person payments via Billetera de Google in Mexico and the launch of physical cards.
In brief:
-The Nelo card, along with the integrated Google Wallet feature, provides customers with the flexibility to either settle their entire balance or opt for financing specific purchases gradually, enabling widespread usage of the popular online purchasing solution.
-Nelo now has access to a fast and scalable infrastructure solution, enabling the smooth launch of its Tap to Pay solution through Google Wallet, along with its physical card.
-The news comes at a time when over 40% of the Mexican population remains financially excluded, meaning they do not have access to formal financial services such as banking, savings, credit, and insurance.
What does this mean?
Alejandro Del Rio, Regional Director for Latam at Paymentology added: "Through our innovative solutions and superior technological ability, we are empowering Nelo to bridge the financial divide with this latest development in the partnership, reaching out to those previously unbanked and integrating them into the financial system. We are excited to continue supporting Nelo on its journey to enhance its customers' purchasing power while remaining ethical."
