Chilean Market Witnesses Consolidation of Ecuadorian Paytech Kushki

Kushki, an Ecuadorian paytech company, has received approval from the Chilean regulator to enter the acquiring business. This milestone allows Kushki to participate in the payments network in five Latin American markets. Prior to this, the company had already obtained permits to operate as a non-bank acquirer in Mexico, Peru, and Colombia. This regional consolidation process enables companies to receive money in their bank accounts across different countries, facilitating business growth beyond geographical borders. Kushki’s technological innovations, such as a 3DS system for more secure and faster transactions, aim to increase its market share in Chile. The company has experienced significant growth, with a 100% increase in Latin America and an 80% increase in Chile in 2022. Kushki’s local team is targeting double-digit growth in Chile this year.

Source: Diario Financiero.

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