Argentine fintech Pomelo launches global card issuance solution

Argentine fintech Pomelo has taken a significant step in its international expansion by launching a new solution that enables banks, fintechs, and businesses to issue cards globally from a unified technological platform. This innovation eliminates the need for companies to establish subsidiaries, obtain regulatory licenses, or develop operations in every market they wish to enter.

The service offers comprehensive coverage in over 150 countries. It includes the issuance of virtual Mastercard and Visa cards, seamless integration with digital wallets like Apple Pay and Google Pay, and the production and distribution of physical cards. Furthermore, it provides real-time settlement capabilities in U.S. dollars or stable cryptocurrencies, alongside other advanced functionalities.

Gastón Irigoyen, CEO & Co-Founder of Pomelo, highlighted the complexity of the Latin American payment ecosystem, characterized by multiple payment rails and regulatory asymmetries. He emphasized that the strategy lies in intelligently combining these rails, rather than choosing a single one. "America Latina operates on multiple payment rails: cards, transfers, and now also stablecoins. It is a multi-rail ecosystem in a complex region, defined by regulatory asymmetries between markets. The opportunity lies not in choosing a single rail, but in combining them intelligently," he stated.

Previously, companies seeking to launch card programs internationally faced the arduous task of replicating their infrastructure in each new market. This involved setting up legal entities, securing regulatory approvals, negotiating with local vendors, and developing specific integrations. Pomelo's new offering allows issuers to implement local, global, or hybrid strategies without requiring a physical presence or operational infrastructure in other countries.

Pomelo has already secured over 170 clients worldwide, including major banks like BBVA and Santander, global unicorns such as Western Union and Didi, and traditional corporations. The company recently closed a $55 million Series C funding round, bringing its total capital raised to $160 million and increasing its valuation by 75%.