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Mexico's DolarApp turns to Paymentology for card processing services

Source: Paymentology

Paymentology, the leading global issuer-processor, today announces its partnership with DolarApp, the Mexican startup which provides digital dollar accounts to consumers across Latin America.

Established in 2021, DolarApp has emerged as a pioneering force in Latin America by introducing its USD-denominated credit card. The card grants consumers the ability to send and receive transfers from multiple countries, dollarise their financial transactions with digital dollars and pay with an international card issued by Mastercard in any currency at the best rates - both when they travel and everyday expenses. DolarApp is the first provider in Mexico to offer this service with no foreign exchange (FX) fees and transparent market rates, opening doors for millions of Mexican travelers to spend freely and economically, at the best rates with full transparency.

Paymentology plays a vital role in providing DolarApp with a fast and scalable card payment program, along with first-class tokenization and security services. The services enabled through Paymentology encompasses virtual & physical Mastercard card processing, 3DSecure technology, Apple Pay, and Google Pay.

As a result of this partnership, DolarApp is proudly the pioneering organization in Mexico, offering the convenience of both Google Pay and Apple Pay to its customers. This collaboration has revolutionised payment options, ensuring a seamless and secure experience for users in the country, and when travelling, while providing a reliable platform that supports DolarApp’s growth and expansion plans.

Alvaro Correa, Co-Founder & COO at DolarApp commented: "We are delighted to collaborate with Paymentology as our strategic partner for card issuing and processing in Mexico. Their exceptional expertise and track record in the industry, coupled with their ability to provide tailor-made and agile payment solutions, perfectly align with DolarApp’s vision and requirements. Together, we are committed to launching new and exciting next-generation features that will continue to elevate our customer’s experience, as we continue to grow across Latin America.”

Alejandro Del Rio, Regional Director for Latam at Paymentology, added: “At Paymentology, we take great pride in being at the forefront of innovation, and that’s why we are thrilled to collaborate with DolarApp, a real trailblazer in the financial landscape. As the first international account experience in Mexico, DolarApp has set a new standard of excellence, offering users the best in the market with an incredibly competitive rate outperforming by more than 1% to some of the most established global players in the region. Our partnership is rooted in a shared commitment to empowering people and making a tangible impact on their financial lives, we look forward to making a lasting difference to people across Mexico and beyond.”

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