Mastercard Acquires Arcus to Expand Presence in Latin America

The US-based financial services giant, Mastercard recently announced the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Arcus FI to facilitate real-time payment applications across the Latin American region. Thus, the latest acquisition has now enabled Mastercard to introduce its Bill Pay solutions across Latin America.

Arcus is a financial technology platform that supports the enabling of cash-in and cash-out services for some of the biggest retail and financial institutions in the US and Mexico. Further, with offices in New York and Mexico City, Arcus offers different solutions including its flagship service Arcus Pay Network that has access to the largest retailers in Mexico.

Recently, the platform of Arcus received approval from Mexico’s real-time Interbank Electronic Payment System. Additionally, the company has played an important role in the adoption of digital payment solutions in Latin America.

“The past year has shown how critical digital solutions are for people and businesses across the region,” said Laura Cruz, the 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 everyday needs by connecting more people to the digital economy.”

Latin America

After a successful launch in the US, Mastercard is planning to expand its Bill Pay network in Latin America. The existing customers of Arcus in Mexico will be able to take advantage of innovative services.

“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 connections to a wide range of payment options via banks, fintech companies and Digital Wallet Digital Wallet A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi Read this Term 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,” Mastercard added.