Banking API provider Dapi launches Payment API in Mexico

By Pavithra R

Dapi, a global payment infrastructure provider has announced its launch of permission-based bank payment initiation and account data aggregation services in Mexico. This is the second market launch outside of MENA and the first in Latin America.

The launch makes Dapi one of the first companies to offer integrated bank transfer payments to the Mexican fintech community, enabling companies to accept money directly from customer bank accounts from within their applications or websites.

“Over the last 6 months, Dapi has focused on making our payment infrastructure available to fintechs and enterprises globally with our expansion in the United States and now Mexico.

FinTech payment ecosystems are now being built on Dapi infrastructure in multiple regions. We can have the same impact in Mexico by enabling a wide range of in-app payment use-cases, including digital banks, digital wallets, P2P payment applications, crypto exchanges, custodians, and merchants.

Mexico is a significant market of over 120m people with a vibrant fintech community and an amicable regulatory environment, as seen with the Financial Technology Institutions Act (2018). We are delighted to be one of the first companies to provide permission-based payment initiation services in the country and look forward to being a responsible driver of the fintech ecosystem here.

At Dapi, our mission is to democratize access to financial services by simplifying payments and putting financial data back in the hands of their owners, everyday consumers. There is no better place to be doing that than in Mexico,” said Ahmed Agour, Dapi co-founder and Chief Executive Officer.

In Mexico Dapi will offer free account data aggregation services to companies that use the payment API to accept payments. Dapi’s payments can be done from anywhere and provide instant payment and confirmation.  Its technology relies on bank transfers, and it offers payments at rates dramatically lower than comparable payment mechanisms, such as cards.

“Since Dapi’s launch in late 2019, we have developed a robust and secure payment infrastructure that is in demand across multiple emerging and developed markets globally. Since our product does not rely on mass adoption of open API infrastructure by financial institutions, we can expand into many markets that do not have open banking protocols. Our infrastructure is now at a point where it can be rapidly and securely scaled across multiple markets. Mexico marks the first step in our plan to expand to the LatAm market through the rest of the year,” said Hesham Ghandour, co-founder and CTO Dapi.

Dapi will also offer payment initiation and account information services to Mexican fintech companies immediately enabling companies to test its services within a sandbox environment before deployment.