Tapi buys Mastercard's Arcus assets for Mexico push
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Tapi says it has bought Arcus's utility payments, mobile top-ups, gift cards, and cash in/out operations as part of its strategy to expand its presence in Mexico.
Last year, the startup raised $22 million in funding to bankroll its push into Mexico, with CEO Tomas Mindlin saying at the time that the country is "very important for us".
The deal also boosts tapi's offering to the banks, fintechs, merchants, and service companies it works with in Argentina, Chile, Colombia, and Peru.
'Integrating Arcus' cash and utility payment capabilities into the tapi ecosystem represents a turning point in our journey as a company," says Mindlin.
Mastercard, which bought Arcus in 2021, will maintain the brand and its capabilities to enable payment processing, settlement, and reconciliation through Mexico's Interbank Electronic Payment System.
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