Trafalgar SOFIPO, the neobank subsidiary of $400 million-asset investment firm Trafalgar Asset Management (TAM), has partnered with BPC for debit card technology in Mexico.
Under the agreement, Trafalgar will implement BPC’s card management as-a-service solution SmartVista to “enable end-to-end debit issuing and processing for both consumers and businesses”, according to the vendor.
The platform, to be deployed in the cloud under a Software-as-a-Service model, supports variable spending hierarchies, multi-user authorisation controls, integrated expense reconciliation, and various fraud management tools.
Trafalgar will connect SmartVista with its web and mobile banking systems, enabling integration with INE, Mexico’s national ID system. BPC says it is “in the process of connecting directly to SPEI”, the direct transfer network of the Central Bank of Mexico.
In time, the partners are looking to extend the platform’s capabilities by “adding credit card issuance and expanding into merchant acquiring solutions”. A specific timeline for this development has not been disclosed.
Founded in 2021, Trafalgar operates as a regulated Sociedades Financieras Populares (SOFIPO) and is focused specifically on providing financial services, including loans, savings accounts, and payment tools, to small businesses in Mexico.
The TAM division launched operations in October, backed by a Mexican banking licence secured in 2023 and a debt facility of up to $50 million, as exclusively revealed by FinTech Futures.
Source: https://www.fintechfutures.com/
