YellowPepper, Latin America's leading Mobile Payment and Banking solutions provider, announced today the latest development in expanding their mobile payment footprint in Latin America.
YellowPepper will increase its existing reach through a new partnership in Latin America with the largest financial group in Colombia, Grupo Aval (Banco de Bogota, Banco de Occidente, Banco Popular and Banco AV Villas), powering their Aval Pay offering.
Aval Pay is a mobile payments app powered by YellowPepper in partnership with CredibanCo, Colombia`s largest processor and payment network. The new mobile app will feature payment capability in addition to discounts and promotions along with credit and debit card management.
“We are thrilled to partner with this regional important player in the field to make mobile payments more readily available to Latin American consumers and further our mission of revolutionizing the payment experience to the region,” said Serge Elkiner co-founder and CEO of YellowPepper.
Aval Pay will feature the same technology as Smartwallet, which YellowPepper & CredibanCo launched earlier this year in the region. This technology differentiates itself from similar services through tokenization, making the shift to mobile payments easy and convenient for both merchants and customers. Furthermore, as the apps continue to evolve to include technologies such as QR codes and NFC payments, customers will still be able to reap the benefits and safety of mobile payments through the use of this service.
“We constantly strive to make our customers' payment methods as safe and effortless as possible and technology provided by YellowPepper and CredibanCo allows us to do so,” said Jose Manuel Ayerbe, VP Marketing of Grupo Aval.
“CredibanCo and YellowPepper have been partners for over six years, and together we have built an incredible team that complements each other. While we provide processing and operational knowledge, YellowPepper provides the technology and product expertise, allowing us to create innovative and market leading solutions,” said Gustavo Leaño, President of CredibanCo.
Poised to revolutionize payments in Latin America, YellowPepper currently enables more than five million customers to execute over 30 million transactions per month, and these numbers continue to rise.