Paymentology, a global card and payment processing leader, teamed up with Nelo, a Mexican buy now pay later platform.The partnership will encompass support for Nelo’s Mastercard for in-person payments via Google Wallet allowing customers to pay their balance immediately over time, along with the introduction of physical cards.To date, Nelo has raised over $25 million in venture capital and a $100 million credit line from Victory Park Capital.“We are very proud to be among the first to enable Google Pay in Mexico. Through our collaboration with Paymentology, we have the expertise and infrastructure to introduce a transparent and equitable credit solution,” said Kyle Miller, Nelo’s co-founder.While Alejandro Del Río, Paymentology’s Regional Director for Latam, added:“We are empowering Nelo to bridge the financial gap, and we are excited to continue supporting their mission to enhance the purchasing power of their customers.”Read more on Contxto

Paymentology, the leading global issuer-processor, today announces its partnership with Nelo, a consumer payments platform in Mexico, to support its Mastercard in-person payments via Billetera de Google in Mexico and the launch of physical cards.With over 6 million online purchases on its platform, Nelo is reimagining the way that credit products should be delivered. The Nelo card, along with the integrated Google Wallet feature, provides customers with the flexibility to either settle their entire balance or opt for financing specific purchases gradually, enabling widespread usage of the popular online purchasing solution. What sets Nelo’s product apart from a conventional revolving credit card is the inclusion of partial biweekly repayments, making it a distinctive offering in the market.Thanks to Paymentology, Nelo now has access to a fast and scalable infrastructure solution, enabling the smooth launch of its Tap to Pay solution through Google Wallet, along with its physical card. With Paymentology’s support, Nelo can offer more people access to credit swiftly and reliably, making Nelo’s services accessible and efficient.The news comes at a time when over 40% of the Mexican population remains financially excluded, meaning they do not have access to formal financial services such as banking, savings, credit, and insurance. However, technology partnerships like that of Nelo and Paymentology are critical in improving financial inclusion in the country by bringing financial services to the previously unbanked and enabling consumers to pay how and when they want.Kyle Miller, co-founder and CEO of Nelo commented: “We’re incredibly proud to be among the first to enable Google Pay in Mexico. Empowering consumers across LatAm is our mission, and in response to our customers’ high demand, we now provide the means to pay in person

Paymentology, the leading global issuer-processor, today announces its partnership with Nelo, a consumer payments platform in Mexico, to support its Mastercard in-person payments via Billetera de Google in Mexico and the launch of physical cards.