OnePay , a Colombian fintech startup, has introduced a novel payment processing method via WhatsApp , aiming to simplify transactions for users. Since commencing operations in May 2023, the company has secured USD 1.3 million in pre-seed funding, primarily from angel investors.

This funding round signifies investor confidence in OnePay's business model and technological approach. The company's payment solution is currently employed by several major utility firms in Colombia, facilitating over 15 million transactions monthly. This integration enables customers to manage bill payments within WhatsApp conversations, enhancing user convenience.

OnePay's collaboration with Mastercard highlights its dedication to financial inclusion, striving to extend secure and reliable financial services to more consumers and businesses. Beyond utility companies, OnePay targets real estate agencies, particularly in sectors with low banking penetration, to amplify its impact on financial accessibility. This strategic focus not only expands digital payment adoption but also supports economic inclusivity.

As OnePay progresses, it remains committed to broadening its service offerings and refining its approach to better cater to the Colombian market and beyond. Mastercard’s new virtual card Mastercard has introduced its mobile virtual card application to enhance the simplicity and security of travel and business expenses. HSBC and Westpac are anticipated to be the initial financial institutions to access tap-to-pay transactions and payments through this application.

The mobile virtual card app facilitates the swift and secure addition of virtual commercial cards to digital wallets. Moreover, it provides financial institutions and partners with diverse options for delivering sustainable contactless payment services, aligning with evolving market needs while ensuring compliance with industry regulations and laws. .