Mobile payment solutions company Obopay has concluded a strategic deal with GoRed, a leading fintech firm based in Mexico. This will be the first time Obopay will be offering its fintech services for in Latin America and become a transaction switch for the region. The company will provide its Evolys payment platform to GoRed. It will also manage end-to-end digital payment solutions for GoRed including bill pay services, micropayments, P2P, cash in, cash out, remittance, card acceptance, NFC payment capability etc. GoRed offers products and services through a network of affiliated merchants and interconnected users in a digital ecosystem. The Evolys platform will handle large transaction volume requirements of GoRed to help the company in achieving better cost-to-service ratios. Shailendra Naidu, CEO of Obopay, said Obopay’s technical expertise and GoRed’s understanding of the market would help the two firms to build products and solutions that would bring about measurable and sustainable difference to their customers. Indu Das, CEO, Go Red said 97% of adults in Mexico now have mobile access, while 77 million have access to the financial system, yet only 56% use financial products. This gives a dimension of gap if the company could maximize technology and mobile wallet solution for correspondent network and end users.
