Fintechs with payment solutions make retail more accessible

Driven by the growing demand for more agile and personalized financial solutions, the fintech market in Brazil and Latin America is booming recent research do District, the Latin American territory is home to approximately 2.7 thousand innovative companies that offer financial services, with Brazil concentrating 58% of this total, which is equivalent to about 1.6 thousand startups. In this context, the transactional business model is the one that stands out most, representing 35,91% of these startups, while SaaS occupies a significant position with 34,22%, reflecting the need for scalable and efficient technological solutions.

In rapid evolution, this environment has favored the emergence of innovative fintechs that offer answers to complex payment challenges, such as orchestration and subacquisition. In particular, Brazil has consolidated itself as a hub for these innovations, with startups developing technologies that improve operational efficiency and reduce fraud, facilitating the integration of multiple services into a single platform.

Among these fintechs, a Tuna Payments, founded in 2020 by former executives of Peixe Urbano and Groupon Latam, has stood out. The company offers multiple combinations of payment and anti-fraud providers, customizing its services according to the needs of each client.“Advances in this area have attracted large companies in retail, e-commerce and other sectors, which seek to optimize their financial operations through more profitable payment solutions”, says Alex Tabor, CEO of Tuna.

The industry outlook for the future is promising.The financial startups market is expected to continue to grow in Latin America, driven by accelerated digitalization and the need for more affordable and personalized financial services.These companies play a key role in transforming the financial sector, promoting inclusion and strengthening the digital economy in the region.

In addition to its economic impact, fintechs have a significant social role.In 2023, Brazil exceeded 1.2 billion active bank accounts, an increase of 14.2% compared to the previous year, indicating that 89.8% of Brazilians have some type of banking bond, according to the Idwall Ranking of Digital Experience, from Index in partnership with Cadarn consultancy. 

This inclusion also develops with payment methods administered by startups that act in the orchestration of these transactions. This management makes purchases more efficient. Alternatives such as PIX installment and installment payment, for example, allow consumers to be better organized financially, avoiding the accumulation of debt.

Thus, the expansion of services such as multi-acquisition and payment orchestration positions the fintech market to become even more relevant in the coming years, offering solutions that meet both the needs of companies and end consumers.

The disruptive characteristic of these companies goes beyond the simplification of the day-to-day business. Acting as alternatives to traditional banking institutions, these startups play a crucial role in transforming the financial and social scenario. In addition to introducing the necessary competitiveness to the market, fintechs also expand access to credit, especially through the granting of microcredit to small entrepreneurs and individuals who were previously excluded from the banking system.

One research Leticia Ferrarini, presented at the Ibero-American Congress on Business Law and Citizenship, reinforces this role of inclusion led by fintechs. The study highlights how the trend of reversing financial exclusion and the increasing engagement of people from less favored social classes in the financial system contributes to the development of the Brazilian economy and, consequently, to the improvement of quality of life.