Evolution of Fintech and Football in Latin America

FinanceFeeds Editorial Team

PayRetailers, one of Latin America’s biggest payment technology firms, sponsor of the 2021 and 2022 seasons for CONMEBOL Sudamericana, one of the most prestigious annual South American football tournaments

Although belonging to completely different industries, both PayRetailers and CONMEBOL Sudamericana are connected in many ways. They are both leaders in their respective fields and aim to connect the diverse people of Latin America.

The Rise of the Confederación Sudamericana de Fútbol or CONMEBOL

The people of South America love their football and a big part of their social interactions revolves around the sport. CONMEBOL is one of FIFA’s 6 continental confederations and is one of the oldest sports institutions in the world, founded in 1916. It organizes and manages South American football tournaments.

CONMEBOL Sudamericana, also known as La Sudamericana or Copa Sudamericana, is one of the most followed football tournaments in the region, besides CONMEBOL Liberatadores. The tournament began in 2002, replacing both Copa Merconorte and Copa Mercosur.

While there have been slight changes in the model over the years, CONMEBOL Sudamericana has a new format as of this year with 157 matches within a season, starting with the Regional Playoffs, continuing with the Group Stage and lastly the Final Phase. 

It is a dream for a club team to be able to compete in an event held by one of the most prestigious sports institutions worldwide. In 2019, CSD Independiente del Valle defeated Colón to secure their first CONMEBOL Sudamericana title. Founded in 1958, the club played only minor leagues until 2010. From then on, it was counted as one the best South American soccer teams, always finishing among the top but never winning, until 2019. Touted as underdogs, the team emerged victorious in 2019. Theirs is an inspirational story of grit and perseverance. 

Growing viewership both on home grounds and abroad speaks volumes of the tournament’s popularity, especially on digital platforms. Technological developments in sports recording, data capturing, and digital media have taken the tournament globally, bringing it to life on Pay TV and OTT platforms. In 2020, 43 million viewers witnessed the tournament, of which 20% of the audience comprised international viewers, who viewed the matches on online platforms. Supported by a huge digital presence, the tournament is set to grow in Brazil and other countries in the future.

PayRetailers’ Success in a Difficult Payments Landscape

In terms of meteoric growth, the story of the CONMEBOL is similar to that of PayRetailers. Launched in 2017 in Barcelona, the company entered the Brazilian market in 2018. This was a challenging landscape, where a huge section of the population remained outside the purview of formal financial institutions. However, with grit and perseverance, almost reminiscent of CSD Independiente del Valle, the company faced the challenges to record 500% growth in 2020.

Although the fintech landscape is in its nascent stages in Latin America, it is growing rapidly due to rising demand. The total transaction value of digital payments is expected to grow at a CAGR of 14.32% between 2021 and 2025, to reach $278,157 million. PayRetailers aims to play a significant role in this growth.

The company leverages local partnerships to connect diverse regions of the continent. 

Rodrigo Puig Mir, Chief Strategic Officer at PayRetailers, looks back and concludes, “From the first day, we knew that our unique business model will be successful, as it relies on local presence and partnerships. After entering the Mexican markets, we quickly expanded to Brazil and neighboring countries. Just like football, we believe in the power of team play. It is crucial for us to have a strong IT team to implement new payment methods and link new APIs to our infrastructure quickly. Not only that, different elements of the business have to work together to be able to score goals when necessary, to secure that win.”

If you are interested in expanding your business in South America, connect with payretailers.com. PayRetailers can help you manage all activities on the payment side on a local level with their technology-driven and versatile payment services suite, which supports over 250 different payment methods.

  • Read this next

    Fintech

    AU10TIX launches KYB solution to address regulatory requirements

    “Our customers have been requesting a comprehensive KYB solution, because money laundering and fraud have become far too prevalent in the corporate world. Our unified KYB/KYC solution is essential for identifying bad actors and maintaining a safe business environment in 2024.”

    Digital Assets

    Japan Is Rapidly Emerging As A Global Leader In Compliant Crypto Payments

    Japan is often hailed as one of the most forward-thinking nations in the crypto industry, with its government taking a very positive stance on the potential of concepts such as Web3. 

    Digital Assets

    Kraken launches institutional arm

    “If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

    Fintech

    Centroid integrates with brokerage solutions provider GTN

    “We are thrilled to integrate GTN into Centroid Bridge, our multi-asset connectivity bridging engine. This integration allows our clients to gain access to the wide range of multi-asset products offered by GTN.”

    Podcasts, Women of the Industry

    FF Podcast delves into the rise of prop trading as Brokeree releases Prop Pulse

    In the latest FinanceFeeds Podcast, Tatiana Pilipenko discusses Prop Pulse, Brokeree Solutions’ platform for prop firms and retail brokers aiming to delve into prop trading. Offering a flat fee structure, Prop Pulse emerges as a scalable solution in an era where successful traders increasingly prefer prop firms over traditional retail brokers.

    Inside View

    Scalping or day trading?

    Among the many popular trading styles with both beginners and experienced traders are scalping, which allows you to extract small portions of profit from each price movement, and day trading, which aims to trade over a single day. In this article, you will learn what scalping and day trading are and their differences and peculiarities. Ultimately, you will learn what to look for to understand which trading style is right for you.

    Crypto Insider

    Unveiling Plasma Next: INTMAX’s Solution to Scale Ethereum with Stateless Layer

     INTMAX has launched Plasma Next on the mainnet α, a groundbreaking Layer 2 zkRollup, revealed by co-founder Leona Hioki at ETH Denver. This innovation offers scalability with constant costs per block, merging Plasma’s scalability goals with zkRollups’ security.

    Fintech

    Nuam selects Vermiculus for clearing system in Chile, Colombia, and Peru

    “We are proud to deliver a system that plays an integral role in the core of this historical merger, empowering one of Latin America’s most crucial markets with VeriClear’s state-of-the-art technology, together with our deep market expertise.”

    Retail FX

    Moomoo launches super app in Malaysia

    “As an investment platform connecting 21 million retail investors globally, we envision collaborating with exchanges, regulatory bodies, and partners in the visible future to become the gateway, connecting Malaysia’s investment products to global capital and investors.”

    <