Payments service processor and digital wallet app Kuady has launched a virtual prepaid Mastercard in Peru. Kuady Card aims to provide a flexible and convenient way for Peruvian customers to complete payment transactions by using Mastercard’s payment infrastructure.

It will let online merchants pay out directly to Kuady accounts, with users able to complete online transactions that accept Mastercard payments through the Kuady app.

Customers will also be able to have instant access to their payouts, a service that aims to provide a more flexible money management experience and faster transactions.

Kuady’s users will also have the option to request a physical card for in-store purchases.

The payment provider announced in July the intention to debut in Peru and Chile, while also planning further expansion in Latin America, Europe and Africa.

Lorenzo Pellegrino, chief executive at Kuady, highlighted how the demand for flexible and secure payment solutions has been rapidly growing in Peru.

“The launch of our virtual prepaid Mastercard is a significant milestone for us. It not only expands our service offerings but gives our customers greater control and convenience in managing their financial transactions,” he said. “We understand that our customers value both security and flexibility when managing their finances.

“The Kuady card offers our customers a new way to shop online securely, with the added benefit of future integration into mobile wallets for seamless contactless payments.”

The company recently announced the opening of a new office in Bulgaria that will see its team grow to over 100 employees.

According to the firm, Bulgaria’s blend of tech talent and FinTech operational expertise makes it an ideal hub for key product development activities, operations, and strategic alliances.

The Bulgaria office is a joint venture with e-commerce firm PayRetailers, which previously invested in Kuady.

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