MIAMI, July 11,
2024 /PRNewswire/ -- Inswitch, a global leader
in embedded finance technology, and n1co Technologies, a
Salvadoran fintech company with a mission to integrate more people
into the financial future, announced a new partnership. Inswitch
provides n1co with the service of issuing and processing their new
VISA debit cards. Thanks to this agreement, n1co users can
now make their payments online or at physical points quickly and
securely, not only in El
Salvador but internationally as well.
Using Inswitch's platform, n1co offers its clients a completely
digital and simple onboarding process. Through a streamlined
digital KYC (Know Your Customer) process, n1co users gain access to
an account and a Visa debit card to make transactions worldwide.
Additionally, they can make deposits and withdrawals across
El Salvador at over 1,000 physical
points and through top-ups with credit and debit cards from other
banks.
Moreover, with Inswitch's technology, n1co is now poised to
offer person-to-person (P2P) transfers for both banked and unbanked
customers. This partnership between n1co and Inswitch promotes
financial inclusion among a large portion of the Salvadoran
population, especially youth, providing them easy access to their
first financial instruments.
"At Inswitch, our commitment is to empower companies like n1co
to become fintech leaders in their markets," stated Ronald Alvarenga, CEO of Inswitch. "Our
collaboration reflects a shared vision of ensuring everyone has
access to financial services and promoting financial inclusion in
El Salvador and the region. This
partnership represents a significant advancement in access to
financial services, especially for the youth, who can now manage
their finances at an early age in a healthier manner."
"We are very excited to announce our partnership with Inswitch,
a leading company in card issuance and processing services. This
collaboration allows us to offer our users the security and
confidence they deserve. With Inswitch's support, n1co is evolving
the region's digital financial solutions by simplifying
transactions between merchants and users," said Alejandro Argumedo, CEO of n1co.
"At Visa, we collaborate with fintechs around the world to
design innovative and secure solutions that transform the digital
payments industry. That is why we celebrate our partnership with
n1co, which, together with the issuance and processing services
provided by Inswitch, allows more Salvadorans to access financial
products and services, while contributing to a more inclusive
economy in the country," said Carmen Sanchez Bolaños, General
Manager for Visa in El
Salvador.
Inswitch and n1co are leading a new era of financial services in
El Salvador, combining
cutting-edge technology with a deep understanding of user needs to
provide easy, secure, and accessible payment solutions that can
help transform people's financial lives in the country.
The n1co card and n1co App are more than just tools; they are
gateways to a world of financial possibilities. With the ability to
make payments at any establishment that accepts Visa cards, n1co is
taking convenience, technology, and accessibility to a new level.
Additionally, with a network of over 12,000 registered merchants in
El Salvador, Honduras, and Guatemala, n1co is establishing itself as a
key player in the regional financial landscape.
About Inswitch
Inswitch is a global provider of
"embedded finance" technology, serving companies and organizations
for the rapid deployment of their own digital financial services.
With Inswitch's API-based Fintech-as-a-Service platform, any
company can select the best financial solution for its specific
needs. All this with a strategy of rapid and frictionless
commercialization, leveraging Inswitch's global network for cash
operations, banking, credit/debit cards issuance, and payments. For
more information, visit www.inswitch.com.
About n1co
n1co is a Central American
fintech company, founded in April
2022 with the idea of evolving the region's financial
system. It is a leader in digital financial solutions that empower
individuals and businesses. Website: www.n1co.com;
Facebook n1co;
Instagram n1co.latam; Twitter @n1co_latam;
LinkedIn n1co; Merchant
Affiliation: https://n1co.shop/onboarding/; Individual
Affiliation: https://app.n1co.com/; WhatsApps business:
https://wa.me/50324086126
About VISA
Unlocking opportunities for
everyone. We are a trusted global leader in digital payments
striving to remove barriers and connect more people to the global
economy. Our goal is to assist everyone by being the best means of
payment and collection. https://www.visa.com
LinkedIn: @Inswitch
X: @inswitch
URL: https://inswitch.com/
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SOURCE Inswitch