Contxto – As brick and mortar businesses open up shop in cyberspace, comes the need for tools to complete electronic payments. And while fintech Kushki already had a widespread presence with operations in Canada, the US, Colombia, Ecuador, Chile, and Peru it recently added another country to the list.
Yesterday (12), the startup announced the formal launch of its services in the second largest market in Latin America: Mexico.
The startup had closed a Series A investment in late March for that purpose. Undoubtedly, it’s timing couldn’t be better.
Fintech Kushki and electronic payments
Many small and medium sized enterprises (SMEs) are visible online through social media. However they lack a formal web page with an integrated payment system. In that sense, Kushki wants to help running an e-commerce business an easier experience by enabling multiple payment channels.
The fintech’s “Cajita de Pagos” makes it so customers can pay via WhatsApp, social media, email, or text message. Not to mention offer electronic payments via credit and debit cards, transfers, as well as in-person payments.
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Timing the e-commerce boom
The coronavirus (Covid-19) pandemic may have blindsided many startups and delayed scale up plans. But for the fintech, its Mexico launch appears to have been the right move.
“We believe Kushki offers Mexican businesses a unique service when it comes to electronic payments,” noted Sebastián Castro, the fintech’s co-Founder in a press release.
“It gains further relevance today given the healthcare contingency and economic situation we’re facing, wherein digitization is crucial to keep businesses moving forward.”
- Related article: Kushki snags Series A investment to reach more SMEs in the region
What’s more, the pandemic may have thrusted e-commerce adoption in Mexico forward by two years, according to Rodrigo Barrientos, Founder of Teed Innovación Tecnológica. That bodes well for fintechs that address these businesses.
It will also deepen the need for efficient and effective logistics solutions, at a large scale as well as for last-mile deliveries.
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