MIAMI, July 11, 2024 -- Inswitch, a global leader in embedded finance technology, and n1co Technologies, a Salvadoran fintech company with a mission to integrate more people into the financial future, announced a new partnership. Inswitch provides n1co with the service of issuing and processing their new VISA debit cards. Thanks to this agreement, n1co users can now make their payments online or at physical points quickly and securely, not only in El Salvador but internationally as well.
Using Inswitch's platform, n1co offers its clients a completely digital and simple onboarding process. Through a streamlined digital KYC (Know Your Customer) process, n1co users gain access to an account and a Visa debit card to make transactions worldwide. Additionally, they can make deposits and withdrawals across El Salvador at over 1,000 physical points and through top-ups with credit and debit cards from other banks.
Moreover, with Inswitch's technology, n1co is now poised to offer person-to-person (P2P) transfers for both banked and unbanked customers. This partnership between n1co and Inswitch promotes financial inclusion among a large portion of the Salvadoran population, especially youth, providing them easy access to their first financial instruments.
"At Inswitch, our commitment is to empower companies like n1co to become fintech leaders in their markets," stated Ronald Alvarenga, CEO of Inswitch. "Our collaboration reflects a shared vision of ensuring everyone has access to financial services and promoting financial inclusion in El Salvador and the region. This partnership represents a significant advancement in access to financial services, especially for the youth, who can now manage their finances at an early age in a healthier manner."
"We are very excited to announce our partnership with Inswitch, a leading company in card issuance and processing services. This collaboration allows us to offer our users the security and confidence they deserve. With Inswitch's support, n1co is evolving the region's digital financial solutions by simplifying transactions between merchants and users," said Alejandro Argumedo, CEO of n1co.
"At Visa, we collaborate with fintechs around the world to design innovative and secure solutions that transform the digital payments industry. That is why we celebrate our partnership with n1co, which, together with the issuance and processing services provided by Inswitch, allows more Salvadorans to access financial products and services, while contributing to a more inclusive economy in the country," said Carmen Sanchez Bolaños, General Manager for Visa in El Salvador.
Inswitch and n1co are leading a new era of financial services in El Salvador, combining cutting-edge technology with a deep understanding of user needs to provide easy, secure, and accessible payment solutions that can help transform people's financial lives in the country.
The n1co card and n1co App are more than just tools; they are gateways to a world of financial possibilities. With the ability to make payments at any establishment that accepts Visa cards, n1co is taking convenience, technology, and accessibility to a new level. Additionally, with a network of over 12,000 registered merchants in El Salvador, Honduras, and Guatemala, n1co is establishing itself as a key player in the regional financial landscape.
About Inswitch
Inswitch is a global provider of "embedded finance" technology, serving companies and organizations for the rapid deployment of their own digital financial services. With Inswitch's API-based Fintech-as-a-Service platform, any company can select the best financial solution for its specific needs. All this with a strategy of rapid and frictionless commercialization, leveraging Inswitch's global network for cash operations, banking, credit/debit cards issuance, and payments. For more information, visit www.inswitch.com.
About n1co
n1co is a Central American fintech company, founded in April 2022 with the idea of evolving the region's financial system. It is a leader in digital financial solutions that empower individuals and businesses. Website: www.n1co.com; Facebook n1co; Instagram n1co.latam; Twitter @n1co_latam; LinkedIn n1co; Merchant Affiliation: https://n1co.shop/onboarding/; Individual Affiliation: https://app.n1co.com/; WhatsApps business: https://wa.me/50324086126
About VISA
Unlocking opportunities for everyone. We are a trusted global leader in digital payments striving to remove barriers and connect more people to the global economy. Our goal is to assist everyone by being the best means of payment and collection. https://www.visa.com
LinkedIn: @Inswitch
X: @inswitch
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