Expanding its fintech services for the first time ever to Latin America, Bengaluru based payments company OboPay has partnered with Mexico based GoRed Telecommunications.
OboPay will provide its “Evolys” payment platform services to “GoRed”. As a part of the agreement, OboPay will manage end-to-end digital payment solutions for “GoRed” including bill pay services, micropayments, P2P, cash in, cash out, remittance, card acceptance, NFC payment capability etc.
“GoRed” is a Fintech company based in Mexico that offers products and services through a network of affiliated merchants and interconnected users in a digital ecosystem.
Under the deal, OboPay's Evolys platform will handle large transaction volume requirements of GoRed to help the company in achieving better cost-to-service ratios.
"Our technical expertise and GoRed’s understanding of the market would help us together build products and solutions that would bring about measurable and sustainable difference to their customers. Present in four out of top five mobile money markets across the globe and having powered over 11% of global mobile money transactions with zero fraud cases, OBOPAY has carved an immensely successful growth story for itself in the past few years. Taking the success quotient further, this tie-up with GoRed is in sync with OBOPAY’s global expansion plans which will strengthen its presence in an important geography such as Latin America,” said Shailendra Naidu, CEO of Obopay.