Rappi, a Latin American on-demand supply startup, on Wednesday introduced its partnership with fintech platform Arcus for its new funds utility.
Dubbed RappiPay, the brand new utility will supply digital pockets and banking companies, enabling clients to handle their funds and funds.
Commenting on the partnership, Alejandro Solis, common supervisor for Rappi, stated: “We wish to make life simpler for our clients, notably throughout this troublesome time. With RappiPay, individuals can handle all of their monetary wants from the security of their houses. Arcus was a pure associate for us, as that they had the operational, technical and regional experience wanted to assist us go to market shortly with an distinctive buyer expertise.”
Concentrating on an untapped market
As detailed by the announcement, Arcus was primarily tapped to combine a number of cost strategies throughout the app, together with credit score and debit playing cards, together with money.
With RappiPay, the corporate is concentrating on the profitable Latin American markets the place penetration of fintech companies continues to be on the decrease finish. Initially, the appliance is simply out there in Mexico.
Final month, Arcus partnered with 7-Eleven, a significant retail chain, to cashless funds within the Latin American nations.
“At Arcus, we consider that everybody, all over the place ought to have entry to distinctive fintech merchandise, companies, and options. RappiPay is leveraging our deep monetary trade experience and expertise to create a greater, smarter method for individuals to take management of their funds throughout this difficult time,” Inigo Rumayor, co-founder and CRO of Arcus, stated.
“We’re excited to collaborate with Rappi on this initiative, which we consider is step one in a protracted, promising highway of fintech innovation and enlargement throughout the Latin American market.”