Mexico’s NanoPay selects BPC to boost its anti-fraud protection
Mexican fintech NanoPay has partnered with payments solution provider BPC to implement its anti-fraud solution SmartVista.
SmartVista will enable NanoPay to protect its credit card service by monitoring online transactions in real time, detect suspicious transactions “to stop fraud before it happens” and contact customers “proactively” instead of blocking their cards.
Daniel Hernández, business development director and country manager Mexico at BPC, says SmartVista offers “a robust rules engine powered by machine learning that demystifies complex data”.
Part of the Oplay Digital Services Group in Mexico, NanoPay offers credit cards for Mexican consumers. Launched in the country in 2019, NanoPay’s credit cards are backed by Mastercard, and anyone can apply and get one “in minutes” through its mobile app.
“Cyber fraud is one of the most pressing global threats. If we would consider the damage this fraud does to be the size of a country, it would measure as the third largest economy considering damages estimate over $6 billion annually,” says José Luis Mateos, co-founder and COO of NanoPay.
Mateos adds the partnership with BPC will allow the firm to protect cardholders from cyber threats in real time and “to be flexible and adapt to this virtual environment that has so drastically changed over the last two years”.
Luis Huachin, operations director at NanoPay, also adds that the partnership will help the company to expand beyond Mexico and explore other markets such as Colombia.