For businesses in Latin America, the complexities of international payments have long been a significant barrier, characterized by slow processing times, high costs, and operational friction. Chilean fintech Vita Wallet is addressing these challenges head-on with a major platform expansion aimed at creating a comprehensive "360-degree" solution for cross-border finance. By integrating sending, receiving, and collection services into one unified system, the company is poised to redefine how regional businesses manage their global financial operations.
A Modern Alternative to Traditional Banking
Historically, companies have depended on the traditional banking system for international trade, a process often burdened by extensive delays and multiple intermediaries that complicate cash flow management. Vita Wallet aims to disrupt this model by providing a significantly more agile and responsive platform tailored to modern business needs. "Imports and service collections are a great opportunity for businesses, but their speed has historically depended on banking conditions," noted Joel Zambrano, co-founder and CEO of Vita Wallet.
The platform's core functionality allows businesses to finalize payments and money transfers within minutes, settling transactions directly in US dollars to the United States and China, and in euros to Europe. This capability is particularly transformative for payments to the US, where integration with the RTP and FedNow networks enables nearly instantaneous transfers. This technological leap not only accelerates operations but also delivers substantial savings, with commissions up to 50% lower than conventional banking fees.
Expanding the Ecosystem with Integrated Financial Tools
To build a truly all-encompassing service, Vita Wallet has introduced several new products, including the Vita Card, a tokenizable virtual Visa card. This new tool is designed specifically for international spending at both physical and digital merchants, empowering businesses with greater flexibility for their global expenses. The card is already operational for users in Colombia and is scheduled for an imminent launch in Argentina, marking a key step in the company's product expansion.
A cornerstone of this evolution is the launch of international payment links, which enable companies to receive payments instantly in local currencies from key markets such as Argentina, Brazil, and Mexico. These links are offered in a white-label format, allowing businesses to customize them with their own branding for a seamless end-user experience. Complementing this, the fintech is also enhancing its US dollar accounts for companies and individuals needing to manage funds received from abroad.
A Growing Footprint Across the Americas and Beyond
Vita Wallet's strategic expansion is backed by impressive growth, now serving approximately 2,500 companies and 300,000 users across its active markets. The company has established a significant operational presence throughout Latin America, with dedicated teams in Chile, Colombia, Mexico, Argentina, Bolivia, and Peru. This strong regional foundation is paired with a vast international network, allowing the platform to facilitate payments to more than 190 countries worldwide, opening up new possibilities for its clients.
Vita Wallet's latest advancements signal its transformation from a payment facilitator into a comprehensive financial operating system for Latin American businesses engaged in global trade. By consolidating a powerful suite of tools for payments, collections, and expense management, the company is effectively dismantling long-standing financial barriers. This holistic approach empowers regional enterprises to operate more efficiently and compete on a global scale, marking a pivotal moment for the region's fintech landscape.