Rappi is leveraging Arcus’ fintech platform to give customers a way to manage their payments without leaving home during the COVID-19 crisis
NEW YORK--(BUSINESS WIRE)--#digitalbanking--Arcus, the platform making fintech possible for everyone, is partnering with Rappi, Latin America’s leading on-demand delivery startup, for their new payment app, RappiPay. Powered by Arcus, RappiPay goes beyond the typical digital wallet and banking experience, giving consumers a smarter way to manage their payments and their financial health. Those abiding by stay-at-home orders during the COVID-19 crisis can use RappiPay to manage their finances without leaving their house.
“We want to make life easier for our customers, particularly during this difficult time. With RappiPay, people can manage all of their financial needs from the safety of their homes,” said Alejandro Solis, General Manager for Rappi in Mexico. “Arcus was a natural partner for us, as they had the operational, technical and regional expertise needed to help us go to market quickly with an exceptional customer experience.”
Now, more than ever, consumers are managing their lives online. RappiPay helps consumers take advantage of electronic payment methods as it makes both making payments and monitoring them easier and more efficient. Powered by Arcus’ Payment Services, RappiPay allows consumers to configure recurring bills to be paid automatically, receive instant alerts, schedule payments, among other benefits. RappiPay is positioned to become the largest payment network in the region due to the low level of fintech penetration in the market. With the help of Arcus’ technology, RappiPay will enable its users to make payments by credit card, debit or cash.
“At Arcus, we believe that everyone, everywhere should have access to exceptional fintech products, services and solutions. RappiPay is leveraging our deep financial industry expertise and technology to create a better, smarter way for people to take control of their payments during this challenging time,” said Arcus co-founder and CRO, Inigo Rumayor. “We are excited to collaborate with Rappi on this initiative, which we believe is the first step in a long, promising road of fintech innovation and expansion within the Latin American market.”
RappiPay is available for download in Mexico in the Apple Store and Google Play.
Arcus is the leading platform making fintech possible for everyone. Arcus’ fintech platform helps to break down the barriers of traditional banking, making it easier to enter and innovate within the industry. The world’s largest and most innovative companies choose Arcus to launch fintech products across the Americas including BBVA, Santander, Walmart, 7-Eleven, and Rappi. The company is based in New York City and has raised $13M from Y-Combinator, Ignia, Maverick, Winklevoss, Initialized, HOF, and Kapor. For more information, please visit https://www.arcusfi.com.
Rappi is the digital App that makes your life easier, by fulfilling from a whim of a small store, pharmacy or doing your full weekly supermarket purchases to doing an urgent favor or taking cash to your door. It is a Latin American company that has presence in more than 100 cities and 9 Latin American countries, including Mexico City, Guadalajara, Monterrey, Queretaro, Bogota, Buenos Aires and Sao Paulo, among many others. Rappi was founded in 2015 by Simón Borrero, Sebastián Mejía and Felipe Villamarín. In Mexico, it started operating the same year and today it has millions of active users per month and thousands of daily orders in Latin America. Rappi has helped more than 35,000 Rappitenderos in Mexico to be their own bosses, reaffirming their mission to change people's lives. https://www.rappi.com.mx
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