Publicly traded SmartCard will provide infrastructure for XCOOP to expand their service to the United States and China.
Buenos Aires, Argentina and Montreal, Canada 16 August 2021. XCOOP, the leading money transfer Fintech in Latin America, reported today that it signed a collaboration agreement with SmartCard Marketing Systems Inc. (OTC: SMKG). The Fintech & Paytech technology provides banking, retail and enterprise cloud solutions specializing in proprietary end-to-end products (16+ e-commerce, cloud, and mobile applications).
The partnership not only enables SmartCard to seamlessly enter the Latin American market, but gives XCOOP access to millions of Latin Americans living and working in the US, eager to find more convenient ways to send money home. The fastest growing LATAM payment company streamlines international transfers for users, which is a major draw for those used to paying exorbitant fees on both the sending and receiving sides of traditional remittance services. Though international transfers are what draws users to XCOOP, once onboarded, these users will find a full-service neobank helping to established unbanked Latin Americans in the modern banking world. Features include debit cards, bill payment and credit building.
There is a robust demand for cross-border payments to evolve and meet the needs of the B2B, B2C and P2P market with an infrastructure of payment rails to provide a treasury and supply chain ecosystem that makes sense and easy to use. The digital transformation and velocity in which business and individuals are adapting needs to be met with solutions and rails that are equally adaptive. This brings opportunities in Card Issuing, Wallets, Blockchain, IOT an AI automation with the flexibility of currency management and settlement unlike any other providers. Furthermore, both companies have the extensive expertise in Device certification and management to provide a brick and mortar solution for a full agnostic 360 ecosystem.
“The key to success is understanding the synergy between our two companies to drive growth. The beauty of this agreement is that we can immediately start offering a complete suite of cross-border payment options in Latin America. For SMKG, this partnership will allow them to use our resources to enter the LATAM market, while XCOOP will gain a sophisticated payment infrastructure in the US, including operating licenses in 47 states, ultimately transforming the very fabric of the cross-border payment industry.”, explained the CEO of XCOOP, Alex Torriglia.
SmartCard, the FINTECH giant, was founded in 2006, operates in 42 countries and has intuitive applications for white-label wallets, card issuance, event ticketing, blockchain, EKYC, tokenization, reservation travel, cross-border FX, proximity and payment, acceptance requests. The synergies between XCOOP and SmartCard were obvious- as a global operator, SmartCard did not have LATAM exposure, and while XCOOP did have North American functionality, integrating Smart Card’s robust payment infrastructure in the region is a giant stride for the Latin American platform.
“XCOOP caught my eye early on in their mission to bring convenient remittance to Latin America. Since their inception, we have been impressed with their implementation and expansion in Latin America. When looking for a partner to accelerate our expansion into the region, XCOOP was the first to come to mind as an ideal complement to our existing business”, added Founder and CEO of SMKG, Massimo J.N. Barone.
XCOOP, which was launched on the market two years ago, operates in more than 70 countries and has a unique intraregional infrastructure offering digital remittance service. Despite multiple investment rounds, XCOOP has achieved self-sustainability in less than three years, a feat few Latin American Fintech companies have achieved.
About SmartCard Marketing Systems Inc.
SmartCard Marketing Systems Inc (OTC:SMKG) an Industry leader in specialized Industry e-commerce, cloud and mobility applications to the global Paytech and Fintech markets. The company an entrepreneurial boutique providing commercial strategies with a proprietary portfolio of applications and wireframes for Banking, Retail E-Wallets, Digital ID-EKYC, Digital Workforce, Events Management and Ride Booking industries.
For more info, visit www.smartcardmarketingsystems.com or visit our business applications' marketplace at www.Emphasispay.com
XCOOP is the first Latin American cooperative network made up of "FINTECH" service companies, financial institutions, technology providers, retailers and a regional network of businesses united to create and promote financial inclusion of unbanked sectors of the population, through the creation of the first Peer-to-Peer ecosystem for electronic and mobile payments based on sending of money remittances from, to and between the countries of Latin America and other countries.
More Information: Zen Consulting at firstname.lastname@example.org
Originally published in OTCMarkets