Mexico’s Banco BASE has partnered with Volante Technologies in a bid to power its payment transformation and to provide end to end payment processing solution for domestic and international payments. Owing to the need for establishing a modern payments platform, enabling digital P2P offering and to provide merchant services, Banco BASE has implemented VolPay.

“Our number one priority is to serve as a trusted partner enabling digital transformation and innovation in payments so our customers can create a superior experience. Our relationship with Banco Base demonstrates our ongoing commitment to providing financial institutions in Latin America with the same powerful, flexible payments technology that powers the world’s largest banks—tailored to local market needs. We are proud that we were able to help Banco Base maintain its leadership position, and that VolPay is delivering the efficiency and functionality they need to grow and stay ahead in their payments business.” Luis Melgarejo, VP, Latin America Operations, Volante Technologies.

VolPay has been live on the bank’s system since 2016. It processes the bank’s domestic real-time payments in Mexico and cross-border payments via the SWIFT network. According to the supplier, through VolPay’s payments architecture and low operating cost, the bank aims to expand the implementation to cover domestic bulk MXN payments and digital retail payments.

Recently, Volante’s VolPay Open Banking was selected by UK based Bank Leumi in order to implement PSD2 compliance and enable open banking business models.

Banco BASE is a part of the Mexican Financial Group Grupo Financiero BASE and provides banking products for corporate and private banking including loans, investments, digital accounts; and for specialized banking: FX – Foreign currencies and hedging instruments.

by Megha Bhattacharya
Market Analyst at IBS Intelligence