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. According to a recent research of DistrictLatin America is home to approximately 2,700 innovative companies offering financial services, with Brazil accounting for 58% of this total, equivalent to approximately 1,600 startups. In this context, the transactional business model stands out most, accounting for 35,91% of these startups, while SaaS holds a significant position with 34,22%, reflecting the need for scalable and efficient technological solutions.

This rapidly evolving environment has fostered the emergence of innovative fintechs that offer solutions to complex payment challenges, such as orchestration and sub-acquiring. Brazil, in particular, has established 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, Tuna Pagamentos, founded in 2020 by former executives from Peixe Urbano and Groupon Latam, has been making a name for itself. The company offers multiple combinations of payment and anti-fraud providers, customizing its services to each client's needs. "Advances in this area have attracted large companies from retail, e-commerce, and other sectors, seeking to optimize their financial operations through more profitable payment solutions," says Alex Tabor, CEO of Tuna.

The sector's outlook for the future is promising. The financial startup market is expected to continue growing in Latin America, driven by accelerated digitalization and the need for more accessible 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.

Beyond their economic impact, fintechs play a significant social role. In 2023, Brazil surpassed 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 relationship, according to the Idwall Digital Experience Ranking, by Index in partnership with consultancy firm Cadarn. 

This inclusion also develops with payment methods managed by startups that orchestrate these transactions. This management makes purchases more efficient. Alternatives like PIX installments and boleto installments, for example, enable consumers to better organize their finances, avoiding debt accumulation.

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

The disruptive nature of these companies goes beyond simplifying day-to-day operations. Acting as alternatives to traditional banking institutions, these startups play a crucial role in transforming the financial and social landscape. Besides introducing much-needed competitiveness to the market, fintechs also expand access to credit, particularly through the provision of microcredit to small entrepreneurs and individuals previously excluded from the banking system.

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