Telecom acquires a stake in the OpenPass company to continue consolidating its fintech operation and promoting the expansion of the b2b business in the region.
Telecom and OpenPass close a strategic agreement with the aim of strengthening themselves in the fintech market with a strong focus on consolidating local business and the regionalization of financial technology solutions.
Since the launch of Personal Pay, Personal’s virtual wallet, OpenPass has been a central piece for its development, providing the fintech core and the time to market on which it was leveraged, contributing to the rapid launch and growth during the first year in the market.
With this new shareholding, Telecom, together with Personal Pay and OpenPass, now as strategic partners, consolidates its Fintech operation for Argentina and promotes expansion in the region by offering b2b solutions to new markets.
“This strategic alliance for Personal Pay is an opportunity to continue scaling and promoting our proposal for digital financial services, both for individuals with our virtual wallet and for companies, providing new solutions of greater value to new clients/companies in Argentina, Paraguay and other markets,” said Martín Heine, Director of Digital Growth at Telecom Argentina.
“In this way, we strengthen the operation of Personal Pay in the country and seek to be a reference platform that allows us to scale and provide the best financial technology solutions in the region.”
Sebastián Tamanaha, CEO of OpenPass, said: “Our goal at OpenPass is to be the technological enabler that allows any company to develop its own financial services layer and its Fintech side.
“Adding a partner of the caliber of Telecom is a source of pride and gives us the opportunity to continue growing and innovating, thus being able to offer our services to the region, betting on the development of the economy in Latin America.”
This new step will speed up joint work initiatives, which are already underway and develop the best innovation alternatives in search of new solutions and functionalities for the local market and the region. In this way, Telecom, with its Personal Pay virtual wallet together with OpenPass, continue to consolidate as key players in the Fintech industry in Argentina and Latin America.