Business

Mastercard licensed Banco Continental to operate as a new acquirer in Paraguay

Now, with the license, merchants will have a new option to accept credit, debit and prepaid cards

Mastercard logo on a smartphone
Photo: Shutterstock
  • It is a landmark in the market that will allow more Paraguayans and merchants to access digital payment methods;
  • In 2018, the Banco Continental acquired an equity interest in BEPSA to expand payment services.

Mastercard announced that it has licensed Banco Continental to operate as a new acquirer of the brand in Paraguay, reported ñandutí.

READ ALSO: Banking in Paraguay barely reaches 39%, says 5dias

It is a landmark in the market that will allow more Paraguayans and merchants to access digital payment methods. In 2018, the Banco Continental acquired an equity interest in BEPSA (that provides financial transactions) to expand the coverage of transactional services and develop new market segments, in line with the country’s financial inclusion.

READ ALSO: Brazil’s instant payments system, PIX has everything to boost the world’s biggest financial inclusion process

Now, with the license, merchants will have a new option to accept credit, debit and prepaid cards, with the possibility of expanding their business and increasing the average ticket.

Get the best insights about Latin America market in your inbox