Paymentology has announced a partnership with Colombian fintech Tuily enabling the latter’s Small and Medium Enterprise (SME) clientele to access Apple Pay.
By integrating Paymentology’s range of products and services, Tuily has added Apple Pay to its offering via the Tuily Business credit card, allowing SMEs to make quick and secure payments using their Apple mobile devices without the need for physical cards.
Furthermore, in addition to enabling Apple Pay, Paymentology will provide Tuily with a full suite of end-to-end scalable card payment programs, including first-class tokenization and security services.
Alejandro Del Rio, Regional Director for Latam at Paymentology, commented: “We recognise the immense significance of SMBs in Colombia’s economy, serving as the backbone of formal businesses.
“That’s why we were keen to partner with Tuily, a tour de force in empowering these small enterprises with the essential financial tools to ensure their continued success. We take immense pride in offering next-generation payment solutions that will play a pivotal role in their journey.”
Launched this year, Tuily aims to democratise access to capital for Colombian SMEs as the first Colombian fintech in the nation to provide these tailored financial solutions.
Tuily’s digital and physical corporate Mastercard credit cards, along with a secure and user-friendly expense management platform, seeks to not only simplify doing business operations in Colombia, but also open doors to economic empowerment for SMEs.
The small business landscape in Colombia constitutes a significant portion of the country’s formal businesses, providing approximately 40% of the gross domestic product and providing 65% of employment.
The introduction of Apple Pay in Colombia in November 2021 has facilitated further flexible payment options for people across the country.
Jonathan Tarud, CEO at Tuily, added: “Our unwavering commitment lies in democratising capital, enabling SMBs to transact effortlessly. Introducing Apple Pay marks the next pivotal step for us to achieve this mission.
“Collaborating with the customer centric Paymentology team was a great choice for us, and their agile platform empowers us to adapt swiftly and serve our customers better.
“We look forward to deploying more financially inclusive tools together, not only for businesses in Colombia but also reaching far beyond borders, transforming the landscape of SMB financing.”