Ualá Launches Mobile Payments For Small Businesses in Mexico
- Fintech expects $100 million investment in Mexico in two years
- Argentine firm sees Mexico becoming largest market in future
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Argentina’s Ualá, the mobile payments company backed by George Soros, Steve Cohen and Tencent Holdings, is expanding into merchant services in Mexico.
The company is launching mobile point-of-sales (mPOS) units on Wednesday, allowing small businesses to process payments on site and receive an immediate deposit of the sales in their bank accounts, said Ualá’s founder and chief executive officer Pierpaolo Barbieri. Businesses will also be able to charge via payment links.