“ProntoPaga has come to revolutionize the Latin American payment market”
“ProntoPaga has come to revolutionize the Latin American payment market by significantly reducing payment times, which were considered unattainable just a few years ago” Constanza Muñoz Torres, CLO at ProntoPaga, tells us. Learn more about ProntoPaga’s operations or payment systems in Latin American markets in our interview.
How do you assess the progress made by ProntoPaga in the Latin American market? What are the key milestones that have been achieved in recent months?
ProntoPaga has come to revolutionize the Latin American payment market by significantly reducing payment times, which were considered unattainable just a few years ago. Achieving payouts within 20 minutes was our first major success, and subsequently, instant payouts were another tremendous victory for the team.
Cryptocurrencies are no longer considered a technological novelty, but do you believe that the gambling industry will increasingly embrace them as a trusted payment method over time?
I believe that as countries implement inadequate regulations, there will be more incentives to turn to cryptocurrencies as a trusted method for online gambling. While cryptocurrencies are no longer considered a novelty, there is still a great deal of misunderstanding and ignorance about them in Latin America. Therefore, we at ProntoPaga, and particularly the legal and compliance department within ProntoPaga, view the informed and responsible use of cryptocurrencies as an important challenge, not only for the gambling industry but for other sectors as well.
I’ve come across the opinion that using cryptocurrencies as a payment method by online operators contradicts player safety and AML policies. What is your assessment of such opinions?
This opinion is a valid concern, therefore, in ProntoPaga takes it very seriously by incorporating strict AML and KYC procedures into our platform. We believe that cryptocurrencies can coexist with these policies when properly implemented. We are continually monitoring legislative developments in fintech, compliance, payments, and related areas, to establish the best practices possible and ensure that our platform remains compliant with the highest standards of player safety and AML regulations. Striking a balance between innovation and regulatory compliance is crucial to create a safe and enjoyable gambling experience for all users.
Do you consider Latin America to be a challenging market? How do operators respond to your business operations?
Absolutely, Latin America presents a challenge due to its regulatory diversity, conservative mindsets, varying levels of technological and financial development across the region, etc. We acknowledge these challenges and have adopted a flexible approach. We tailor our services to the unique needs of each market and collaborate closely with local partners and authorities to ensure compliance and acceptance. Building strong relationships and adapting to the nuances of each market are key to our success.
What would you define as ProntoPaga’s main mission in the online payment space? What is the ultimate goal you are striving to achieve?
As our slogan aptly indicates, ProntoPaga’s mission is to provide Fast, Flexible, and Fair payments. Fast, because we aim to achieve unprecedented speed, regardless of whether it’s a business day, after hours, or even during weekends or holidays. Flexible, because we strive to adapt to emerging needs along the way, understanding that realities are dynamic, and we don’t intend to keep our services stagnant. Fair, because we transparently pass on real costs to our clients without creating disadvantageous averages. Our ultimate goal is to reach all of Latin America and be a catalyst for change in digital payments throughout the region.