Investment fintech Racional has expanded into payment services through a new strategic agreement with technology firm Pomelo. The alliance will allow Racional to offer funded payment accounts and prepaid cards in both physical and virtual formats, moving the platform beyond its traditional investment focus. This step creates a new business line for a company that has concentrated on stock and ETF investing in Chile and the United States since its founding in 2020.
Partnership Structure
Under the agreement, Pomelo acts as an authorized non-bank issuer and assumes regulatory obligations before the Financial Market Commission, while Racional leads product development and application integration. The new service will operate under the name Racional Money and will coexist with the existing Stocks and Portafolios investment lines. This division of responsibilities allows Racional to expand into payments without becoming a licensed issuer itself, lowering the barriers to entry for the fintech.
Product Capabilities
Funded payment accounts let clients keep money ready for payments and other card transactions, enabling them to spend or invest directly from the same application. The product includes physical and virtual prepaid cards that can be used for everyday purchases and digital payments. Users will be able to maintain part of their resources in payment accounts while allocating other funds to investment portfolios, creating a unified financial experience.
Regulatory and Infrastructure Support
Pomelo will provide transaction processing, card issuance, identity verification, and tokenization for digital wallets such as Apple Pay and Google Pay. The alliance is supported by authorization Pomelo obtained in June, when the Chilean regulator enabled it to operate as a non-bank issuer of prepaid payment cards. This license lets Pomelo act directly as an issuer and offer that infrastructure to third parties wishing to launch payment cards without equivalent authorization.
Executive Perspectives
Racional founder and general manager Boris Garafulic said the alliance will help build a product with everything a user expects from a banking app, combined with investment access in Chile and the United States. Pomelo Chile country manager Santiago Witis noted that the agreement reflects the company's value proposition by allowing partners to launch payment cards comprehensively. He added that this model lets companies focus on creating differentiated products and user experiences without managing complex regulatory processes.
Pomelo Market Presence
Pomelo, originally from Argentina, operates in six Latin American countries and serves more than 170 clients including banks, fintechs, and consumer companies. Its client list features major institutions such as Santander, BBVA, Bancolombia, Rappi, Global66, and Binance. In Chile, Pomelo already participates in the infrastructure of MACHBANK and the existing prepaid cards of MetroMuv.
Racional User Base
Racional reports more than 150,000 users with investments and access to over 10,000 stocks and ETFs from Chile and the United States. The company has built its platform around investment products, offering access to both local and international markets. Adding payment services under Racional Money represents a significant expansion of its original investment-focused model and could attract users seeking broader financial tools.
By integrating payment accounts and prepaid cards into its application, Racional is positioning itself as a more complete digital financial platform. The partnership with Pomelo provides regulatory coverage and technological infrastructure while allowing Racional to focus on product experience and user needs. This move could increase user engagement by combining everyday payments with long-term investment tools in a single interface, strengthening Racional's competitive position in Chile.