PRESS RELEASE
Kuady launches Latin America's newest digital wallet powered by Mambu
Kuady's digital wallet is now available in Peru, Chile, and Argentina, thanks to Mambu's cloud banking platform, with plans to expand across Latin America, Africa, and Europe.
29 October 2024
London: Mambu, a leading cloud banking platform, and Open Payment Technologies Ltd through, Kuady, the leading payments service processor for Latin America, have announced the launch of Kuady digital wallet in Peru, Chile and Argentina in just under 9 months since the beginning of their partnership, with exciting plans for further growth into Latin America, Africa and Europe.
As global demand for quick, user-friendly payment solutions —especially mobile wallets— rises, with the market projected to surpass $10 trillion by 2025, Kuady is on a mission to bridge the gap in financial access by providing simple, effective ways for consumers to manage their money, especially in underserved markets where traditional banking infrastructure is limited.
Powered by Mambu’s cloud banking platform and underpinned by Microsoft Azure, Kuady has now launched its new offering in Peru, Chile and Argentina and is looking towards future growth across the rest of Latin America, Africa, and Europe. The newly launched digital wallet helps consumers quickly and easily access their funds and manage their finances and empowers merchants to seamlessly scale across borders with instant payouts, chargeback protection and more.
Mambu’s extensive experience in the digital wallet space globally, along with the platform’s inherent flexibility, and its network of global partners allowed Kuady to easily build and launch its new offering within nine months. This enabled them to swiftly scale across new markets with full autonomy to customise their offering to fit the needs of both consumers and merchants.
“Our mission statement, ‘Where money meets community,’ reflects everything we stand for. We’re dedicated to transforming how people manage their finances and boosting financial inclusion in Latin America and beyond.
With the tech foundation provided by Mambu, we’ve experienced incredible speed and flexibility allowing us to launch and expand our digital wallet across key Latin American markets in just under nine months. As we look to enter more countries in Latin America and eventually expand across Africa and Europe, we’re excited about growing our business together with Mambu.”
Mario Ricciardi
Managing Director, Open Payment Technologies Ltd
Mark Geneste, Chief Revenue Officer at Mambu says: "We're proud to support Kuady in its mission to enhance financial inclusion and transform how people manage their money.
As the adoption of digital wallets continues to grow globally, consumers are seeking smart alternatives to cash that provide flexible and ready-to-use spending, and we are here to support financial institutions and fintechs looking to expand and innovate in this space. We can offer the speed to market, future-proofing and flexibility needed to stay ahead of the competition. We’re excited to be part of Kuady’s journey and look forward to growing together both regionally and globally.”
From coins to clicks
The surge of digital wallets is sweeping through LATAM at a remarkable pace. Learn more about this opportunity.
