Xcoop is an international joint venture made up of fintech services companies, financial institutions, technology providers, united in order to create and promote innovative and disruptive financial services, through the creation of the first payment ecosystem based on sending remittances. of money from, to and between the countries of Latin America.
To become the largest global remittance, media and payment processing company designed to meet the needs and reduce the costs of using money in all sectors of society, generating real financial inclusion.
Xcoop is available in 75 countries and our services are used daily by more than 11204 users who need to: send, receive and use their money quickly and easily.
Driven by the fundamental belief that having access to financial services creates opportunity, we want to democratize financial services and empower people and businesses to come together and prosper in the global economy. Our ecosystem enables transactions in new and powerful ways. Through a combination of technological innovation and strategic partnerships, Xcoop adds value by creating better ways to manage and move money.
The company's business area is responsible for developing and providing mobile solutions and global payments, collections, credits and processing platforms, open or closed, for issuers and acquirers, whether companies, financial institutions or governments, in the different markets in those we operate.
With this innovative proposal, we create financial inclusion in the Latin American market, through a virtual account, any user of our app can receive or make local payments. The account is linked to a prepaid debit card, Mastercard or Visa, depending on the country, to make purchases in stores or withdraw money from practically any ATM network.
We offer a full range of smart hardware solutions based on the Android operating system for merchants to process payments at point of sale.
We are people who love what we do, think big and firmly believe that we can generate better alternatives in the markets we participate in. We form a highly solid and experienced team in: financial, legal and technological services. We work hard, smart, and do the right thing.
The traditional remittance model bases its business model on sending and receiving money, but the participation of the industry ends once said amount is received in the destination country. The relationship with the customer ends at the collection window of Western Union, Moneygram, etc.
For there to be true financial inclusion, it is necessary for companies to expand their service universe by providing financial tools to their users, based on the remittance generated. There are different initiatives in other parts of the world aimed at expanding the remittance service towards a model of true inclusion.
Xcoop's vision is to go beyond remittances, generating a complete digital transformation of a traditional business based mainly on cash, promoting the use of financial instruments such as prepaid, debit and credit cards, as well as mobile payment platforms based on receiving a consignment sent. Taking into account that people who receive remittances do so with an almost monthly frequency, added to the information related to the use of these funds, we have the possibility to analyze these data and use risk rating tools that allow us to grant loans in depending on the pattern of income and expenses of each one. We call this true financial inclusion.