Global issuer-processor Paymentology has announced its partnership with Colombian fintech Tuily to enable Apple Pay for its small and medium-sized enterprise (SMB) customers. Tuily, launched in 2023, aims to democratize access to capital for Colombian SMBs. Its digital and physical corporate Mastercard credit cards, along with its expense management platform, have simplified doing business in Colombia and empowered SMBs. With Paymentology’s range of products and services, Tuily can now offer Apple Pay to its customers, allowing them to make quick and secure payments using their Apple mobile devices. Paymentology also provides Tuily with a suite of end-to-end scalable card payment programs, including tokenization and security services. SMBs make up a significant portion of Colombia’s formal businesses and contribute 40% of the GDP and 65% of employment, especially for vulnerable groups. The introduction of Apple Pay in Colombia in 2021 has provided more flexible payment options for people across the country. Jonathan Tarud, CEO at Tuily, stated that introducing Apple Pay is a pivotal step for achieving its mission of democratizing capital for SMBs. Alejandro Del Rio, Regional Director for Latam at Paymentology, commented on the partnership, highlighting the agility of their platform in serving customers better.
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