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Flow, a Chilean paytech, is arriving in Mexico, a market that by 2027 will have 21 million people making digital payments, according to Statista.
The paytech offers a comprehensive electronic payments platform that allows businesses and entrepreneurs to receive payments through multiple means such as credit cards, debit cards, bank transfers, digital wallets, cash payments and others. Its focus is on simplifying payment management, integrating easily with online stores and technological solutions, the startup explained to Contxto.
Javier Huerta, Flow’s country manager in Mexico, said that its goal is to turn every transaction into a human experience, “in a sector that puts algorithmic efficiency above personalized attention, user frustration reveals an underlying problem, for example, that many platforms are not designed for a population that has limited internet access or does not master the use of technology.”
The growth of digital payments is accompanied by increased automation that, in many cases, has deteriorated the user experience. “Rather than choosing between automation or human treatment, we believe that technology should enhance the interaction between people, not replace it,” says Huerta.
Flow seeks to recover the human factor in digital payments. As part of its strategy in Latin America, this Chilean company seeks to serve from small businesses in different areas to large corporations that require digital payments.
Its business model, Flow explained, is based on intermediating payments between buyers and sellers, charging a commission per transaction. Flow acts as a technological facilitator that provides reconciliation, payment automation, collection, subscriptions and financial management services for digital and physical businesses.
Towards a more connected LATAM
Flow was founded in 2018 in Chile, is a spin off of Grupo Tuxpan, a technology consultancy specializing in digital transformation through the development of software and highly complex systems, for the optimization of business processes.
After growing in Chile, where it says it currently has more than 110,000 customers in Chile, it arrived in Peru, in 2022, as part of its regional expansion strategy to offer payment solutions in new markets in Latin America.
Currently, Flow works with entrepreneurs, SMEs, large companies and digital platforms. Their portfolio ranges from small businesses that sell through social networks, to large companies that require advanced payment and integration solutions. They are also present in verticals such as e-commerce, education, healthcare, professional services and subscriptions.
Now on its arrival in Mexico, Huerta assures: “We understand the complexity of the market and its potential. We are not here to promise a revolution, but to collaborate with real and sustainable solutions for businesses. This country can be a springboard for scaling throughout LATAM, and Flow is ready to be a strategic partner in that transformation.”
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