MineSec and BSD Enterprise have entered into a Memorandum of Understanding (MoU) to form a joint venture aimed at expanding mobile-first payment acceptance across Latin America through their collaboration.

By merging MineSec’s software point-of-sale technology with BSD Enterprise’s regional insights, the partnership is poised to deliver a cohesive platform tailored for the Latin American market.

The joint venture plans to enable secure EMV contactless payments via smartphones and compatible devices. This mobile-first approach supports multiple platforms and adapts seamlessly to future operating systems. Additionally, the unified solution integrates acquiring, gateway processing, and merchant management functionalities, optimizing for Latin American regulatory needs and local network infrastructure.

Unified platform tackles market fragmentation

Merchants in Latin America often face a fragmented payment landscape that necessitates working with multiple vendors for mobile acceptance, gateway services, acquiring relationships, and localized integrations. Navigating these complex requirements adds to the challenge of expanding operations and hinders providers from efficiently serving small and medium enterprises (SMEs). Despite growing demand for secure phone-based payments applicable across various scenarios, many SMEs still rely on traditional hardware.

By consolidating SoftPOS, acquiring, and gateway functionalities into one platform, the joint venture streamlines deployment for merchants, independent sales organizations, fintech companies, and payment service providers. This approach minimizes the time and cost associated with certification and local integration processes while ensuring compliance with global card schemes and emerging payment methods.

Arturo Cervantes, CEO of BSD Enterprise, highlighted that modern payment solutions in Latin America encounter obstacles such as intricate regulatory frameworks, prolonged certification procedures, and technical implementation hurdles. However, his company’s regional expertise has helped overcome these challenges through tailored execution strategies aligned with market realities.

The alliance with MineSec brings together cutting-edge technology and local knowledge to create an efficient contactless payment platform accessible for deployment across the region. This solution focuses on reducing entry barriers and promoting the adoption of modern payment infrastructure among merchants, fintech companies, and integrators.

Angus Chiu, CEO of MineSec, emphasized that both organizations are dedicated to crafting a future-proof platform capable of supporting Latin America’s rapid growth and enhancing financial inclusion while unlocking new opportunities for digital commerce.

The joint venture aims to deploy its services in key Latin American countries such as Brazil, Colombia, Argentina, Chile, and Peru.