Arcus’ full-stack platform improves speed and
access to Mexico’s financial services ecosystem and is a gateway
into Latin American markets
Enables the introduction of Mastercard Bill Pay
to Latin America
Mastercard (NYSE: MA) today announced it has acquired Arcus FI,
an alum of the company’s Start Path program, to help support the
delivery of bill pay solutions and other real-time payment
applications across Latin America.
With offices in New York and Mexico City, 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 U.S. and Mexico, with expansion into Latin America. Its
flagship solution, the Arcus Pay Network, has access to the largest
retailers and direct connection with many of the largest billers in
Mexico.
“The past year has shown how critical digital solutions are for
people and businesses across the region,” said Laura Cruz, division
president for Mexico and Central America at Mastercard. "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.”
Arcus’ platform recently received approval to enable payment
processing, settlement and reconciliation via Mexico’s real-time
Interbank Electronic Payment System (Sistema de Pagos Electrónicos
Interbancarios or SPEI).
“Edrizio de la Cruz and I began this company to help immigrants
like us have a proper way to track our finances and send money
home. For nearly a decade, we have grown from those aspirations to
help pave the way toward greater financial inclusion in Latin
America,” said Iñigo Rumayor, co-founder at Arcus. “We’ve tapped
into some of the region’s brightest minds, and built a world-class
team alongside Marc Sacal, who has helped us expand beyond those
initial cross-border payments to give people a greater control of
their financial lives. Now, becoming part of the Mastercard family
and a direct participant in the SPEI network expands what we can
deliver to our customers.”
Arcus has helped to pioneer the adoption of digital payment
solutions in Latin America. Today, the company supports fast and
easy access to deposits, withdrawals and payment services.
Expansion of Mastercard Bill Pay
Arcus’ technology, network and customer relationships will help
accelerate the introduction of Mastercard Bill Pay to Latin
America. Its existing customers issue the majority of household
bills in Mexico and provide connection to a wide range of payment
options via banks, fintechs and digital wallet providers. This same
connectivity will deliver the channel for a broader suite of
financial services.
Mastercard Bill Pay allows consumers to view, manage and pay
their household and other personal bills from within their
preferred financial service provider’s app — securely, conveniently
and with full control. It is already live with banks and credit
unions and a network of 135,000 billers in the US as Mastercard
Bill Pay Exchange.
For billers, Mastercard Bill Pay can eliminate the cost of
mailing paper bills and processing cash and checks, offers better
visibility of payment status, and helps them reconcile payments to
customer accounts. Financial institutions benefit from increased
relevance in their customers’ daily lives, resulting in increased
engagement and additional services and increased customer
engagement.
Arcus Customer Testimonials
"Arcus is the ideal partner for us due to its real-time payment
technology, which allows us to offer the fastest possible payment
solutions for our clients," said Jorge Hernández Santoyo, corporate
treasurer at Sky Mexico & Central America.
“Arcus was the ideal technology partner for us due to their
agile technology, real-time processing and strong Latin American
presence,” said Guillermo Vicando, CEO and co-founder of Bnext.
"Arcus is the ideal partner for us due to its real-time payment
technology, which allows us to offer the fastest possible payment
solutions for our clients," said Karen Iglesias, electronic
services and home delivery manager at 7-Eleven Mexico.
"Arcus is the ideal partner for our needs. We can use its suite
of solutions to provide our customers with an unmatched payment
experience around utilities payment and cash options to pay their
credit cards," said Martin Mexia, head of payments at RappiPay.
“By partnering with Arcus, Cuenca saves its customers' time with
a personalized, fair, and 100% friendly-digital finance experience
which allows them to top-up phone plans and pay different bills."
Bibiana Monterde, co-founder of Cuenca.
About Mastercard Incorporated (NYSE: MA),
www.mastercard.com
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
About Arcus
Arcus is a platform that enables any business to launch and
offer innovative payment solutions across LatAm. Arcus’ mission is
to make payments possible for everyone. The world’s largest and
most innovative companies choose Arcus to accept and process
payments across the Americas including BBVA, Santander, Walmart,
7-Eleven, and Rappi. Arcus was launched in 2013 through
Y-Combinator. Arcus is currently growing its team, with 100+
employees, 100+ clients, and operations in 7 countries in Latin
America. For more information, visit Arcusfi.com.
Forward-Looking Statements
This press release contains forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical facts may be forward-looking statements. When used in
this press release, the words “believe,” “expect,” “could,” “may,”
“would,” “will,” “trend” and similar words are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements that relate to
Mastercard’s future prospects, developments and business
strategies, as well as Mastercard’s acquisition and operation of
Ekata. We caution you to not place undue reliance on these
forward-looking statements, as they speak only as of the date they
are made. Except for the company’s ongoing obligations under the
U.S. federal securities laws, the company does not intend to update
or otherwise revise the forward-looking information to reflect
actual results of operations, changes in financial condition,
changes in estimates, expectations or assumptions, changes in
general economic or industry conditions or other circumstances
arising and/or existing since the preparation of this press release
or to reflect the occurrence of any unanticipated events.
Many factors and uncertainties relating to the proposed
transaction, our operations and our business environment, all of
which are difficult to predict and many of which are outside of our
control, influence whether any forward-looking statements can or
will be achieved. Any one of these factors could cause our actual
results or the impact of the acquisition to differ materially from
those expressed or implied in writing in any forward-looking
statements made by Mastercard or on its behalf. Such factors
related to the completion and impact of the acquisition include,
but are not limited to, whether all necessary conditions will be
met, and whether the transaction will close on agreed terms and in
a timely manner.
For additional information on other factors related to
Mastercard’s overall business that could cause Mastercard’s actual
results to differ materially from expected results, please see the
company’s filings with the Securities and Exchange Commission,
including the company’s Annual Report on Form 10-K for the year
ended December 31, 2020, and any subsequent reports on Forms 10-Q
and 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20211124005986/en/
Mastercard Investor Relations: Jud Staniar,
investor.relations@mastercard.com, +1 914-249-4565 Mastercard
Global Communications: Seth Eisen, Seth.Eisen@mastercard.com, +1
914-249-3153 Mastercard Mexico Communications: Isabel Villagomez,
Isabel.Villagomez@mastercard.com, +52 (55) 26481174
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