YellowPepper, Latin America’s leading Mobile Payment and Banking solutions provider, announced the latest development in expanding their mobile payment footprint in Latin America. YellowPepper will increase its existing reach through a new partnership in Latin America with the largest financial group in Colombia, Grupo Aval (Banco de Bogota, Banco de Occidente, Banco Popular and Banco AV Villas), powering their Aval Pay offering.
Aval Pay is a mobile payments app powered by YellowPepper in partnership with CredibanCo, Colombia`s largest processor and payment network. The new mobile app will feature payment capability in addition to discounts and promotions along with credit and debit card management.
Aval Pay will feature the same technology as Smartwallet, which YellowPepper & CredibanCo launched earlier this year in the region. This technology differentiates itself from similar services through tokenization, making the shift to mobile payments easy and convenient for both merchants and customers. Furthermore, as the apps continue to evolve to include technologies such as QR codes and NFC payments, customers will still be able to reap the benefits and safety of mobile payments through the use of this service.
Poised to revolutionize payments in Latin America, YellowPepper currently enables more than five million customers to execute over 30 million transactions per month, and these numbers continue to rise.
YellowPepper currently enables over 5 million monthly active users to execute over 30 million transactions.
CredibanCo is a Colombian payment processing company supervised by the Superintendencia Financiera de Colombia. With more than 40 years of experience managing and developing traditional payment systems and financial inclusion solutions CredibanCo has created comprehensive portfolio of services including: mobile platforms, electronic marketing, payment systems, acquiring, switching, clearing & settlement, fraud prevention, call center, etc. strategically designed satisfy any needs from financial institutions, merchants corporations or governments. The company’s mission is centered on contributing to creating value, the penetration of private spending and the modernization of banking payment systems.
Grupo Aval is Colombia’s largest financial services group with over $73 billion in total assets and $141 billion under management along with +10 million banking clients, 1,414 branches and 3,775 ATMs in Colombia. Additionally the group provides merchant accounts and pension services to further leverage Colombia’s macroeconomic growth.
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