Mastercard has expanded its support of Latin American real-time payments through the acquisition of Mexico-based Arcus FI. Financial terms were not disclosed.
A Mastercard Start Path programme alum, Arcus helps to enable bill pay and cash-in, cash-out services for some of the biggest billers, retailers, fintechs and traditional financial institutions in the US and Mexico, with expansion into Latin America.
Mastercard plans to tap into the firm's technology, network and customer relationships to accelerate the roll out of its Bill Pay service into Latin America.
Laura Cruz, division president, Mexico and Central America, Mastercard, says: "With the addition of the Arcus team, we will enhance existing payment experiences and create new opportunities to address every day needs by connecting more people to the digital economy.”