Our experience with the transactional world, including operations with Visa and Mastercard® began in 2006, when the largest financial institution in the region, BAC Credomatic approached us to carry out a pilot project, where they wanted to integrate their payment process to our already successful and positioned point of sale and invoicing system. It was a resounding success! With the benefits of this new alliance, thousands of installations and consequently millions of transactions were made. This led to the search for new projects, including new expansion horizons, such as Costa Rica, Guatemala and Panama, among others. In 2009, after selling Diseños Digitales to a prestigious Nicaraguan businessman, Panama was chosen for many reasons, to launch a new project called Paguelofacil.
Paguelofacil's initiative was to allow any entrepreneur, natural person, company or institution of any order, the possibility of receiving payments by Internet in a simple way. The number one objective was to reduce the affiliation process, eliminating the need to go to a bank, which with its procedures and requirements, made the affiliation process more costly and therefore more time consuming. Our CEO and Founder, Mr. Oscar Flores, formally launched Paguelofacil Panama in 2010, writing in his own handwriting every line of code of what became 8 years later (2018), when he sold his shares in the company, the number one payment gateway in the country and a success story in the region.
Together with his team, he made the decision to focus on a new project, which by that time was already about 4 years in conception and execution, dedicating now 100% of his time and effort to mPosTM Global LLC, a company that from its beginnings is already shaping up to achieve even greater success, by immediately receiving the support of the most prestigious names in the industry.
mPosTM Global's vision and objective is to massify the acceptance of payment methods in the region, offering simple and innovative products, affordable for everyone, without cumbersome contracts, without delays and above all without the high costs that are usually related to this industry. Launching in the Panamanian market in February 2019 its mPosTM Bluetooth devices, which when connected to an Android or iOS device become a dataphone, receives an immediate welcome. Everything accelerates from that moment and in July 2019 we signed a regional endorsement and sponsorship agreement with Visa® International. In August, we finalized the first franchise sale for Honduras and by October we closed a regional agreement for the opening of all of Central America.
In keeping with its commitment to become the regional reference in means of payment, we agreed to sell a minority stake to a leading North American corporation with a prestigious track record, and concluded the transaction in February 2020. With this new alliance and strengthened financially, we reinforce our will to expand.
An important milestone in our journey is the signing with Bancolombia® , which also took place in February 2020, as a payment facilitator. The entire mPosTM project began at a one-day conference in the city of Bogota in 2014, so it was essential for us to take this step and to be able to launch the full range of our products and services in Colombia, as we always wanted.
Mpos Global is today the most prestigious and complete regional Fintech in the market, with the most secure and reliable ecosystem for our users.