Paymentology has partnered with Colombian fintech Tuily, which works to enhance expense management for small and medium-sized enterprises (SMBs). Due to Paymentology’s range of products and services, Tuily has added Apple Pay for its business customers. With the Tuily business credit card, SMBs can make quick and secure payments using their Apple mobile devices, eliminating the need for physical cards.

In addition to enabling Apple Pay, Paymentology provides Tuily with a full suite of end-to-end scalable card payment programs, including tokenisation and security services. The services enabled through Paymentology provide the issuing of virtual and physical Mastercard card processing, 3DSecure technology and ensuring secure transactions for Tuily’s clients.

More flexibility in Colombia

SMBs constitute a significant portion of Colombia’s formal businesses, contributing approximately 40% of the gross domestic product and providing 65% of employment, especially for the most vulnerable groups. The introduction of Apple Pay in Colombia in November 2021 has facilitated more flexible payment options for people across the country.

Jonathan Tarud, CEO at Tuily said: “Our unwavering commitment lies in democratising capital, enabling SMBs to transact effortlessly. Introducing Apple Pay marks the next pivotal step for us to achieve this mission. Collaborating with the customer-centric Paymentology team was a great choice for us, and their agile platform empowers us to adapt swiftly and serve our customers better. We look forward to deploying more financially inclusive tools together, not only for businesses in Colombia but also reaching far beyond borders, transforming the landscape of SMB financing.”

Alejandro Del Rio, Regional Director for Latam at Paymentology commented: “We recognise the immense significance of SMBs in Colombia’s economy, serving as the backbone of formal businesses. That’s why we were keen to partner with Tuily, a tour de force in empowering these small enterprises with the essential financial tools to ensure their continued success. We take immense pride in offering next-generation payment solutions that will play a pivotal role in their journey.”

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