YellowPepper's strategic investment from Visa as part of a $12.5 million Series D funding round gives the company a chance to expand beyond its focus on Latin America and into new markets such as Europe and Asia.
The spread of breached identity information has resulted in an outbreak of new account creation fraud with a new ground zero for the crimes pointing right at Latin America.
RecargaPay, an eight-year-old mobile payments platform targeting unbanked and underbanked consumers in Brazil, has secured $22 million in funding to reach more users and merchants.
Ripple, the San Francisco-based venture looking to rewire financial firms with Bitcoin’s underlying technology, said Latin America’s biggest bank by market value is among five new customers joining its international money-transfer network.
The government of President Michel Temer has signaled that it wants to tackle the staggeringly large spread between Brazil’s benchmark Selic rate - currently 13.75 percent - and the average annual interest on credit cards, which is somewhere north of 450 percent.
As global e-commerce proliferates, payment platforms are stepping up to cater to U.S. merchants eager to sell their wares in emerging markets. But there can be as many risks as there are opportunities when entering a new market.
