Global issuer-processor Paymentology has announced a partnership with Colombia-based fintech Tuily to enable Apple Pay for its business customers. The collaboration helps the fintech looking to revolutionise expense management for small and medium-sized businesses (SMBs) Tuily to provide Apple Pay for businesses in the country with the support of Paymentology’s card issuing platform and analytics capabilities.

Apple Pay and Paymentology – Tuily partnership details A 2023-launched Colombian fintech company, Tuily is committed to democratising access to capital for Colombian SMBs. Among the first fintechs in the region to offer such tailored financial solutions, Tuily’s digital and physical corporate Mastercard credit cards, together with a highly secure and user-friendly expense management platform, look to help simplify doing business in Colombia and open doors to economic empowerment for small and medium-sized enterprises. Now, the company has added Apple Pay to its offering thanks to Paymentology’s extensive range of products and services.

With the Tuily business credit card, SMBs can make payments in a quick and secure manner leveraging their Apple mobile devices, thus eliminating the need for physical cards. What is more, in addition to enabling Apple Pay, Paymentology offers Tuily a full suite of end-to-end scalable card payment programmes, including advanced tokenization and security services. Per the press release information, the services enabled through Paymentology provide the issuing of virtual and physical Mastercard card processing with 3D-Secure technology, helping ensure simplified and secure transactions for Tuily’s clients.

The Colombian SMB space and what the Apple Pay addition entails The press release highlights that SMBs constitute an extensive portion of Colombia’s formal businesses, contributing approximately 40% of the GDP and providing 65% of employment, predominantly for the most vulnerable groups. Following the introduction of Apple Pay in the country in November 2021, this has helped facilitate more flexible payment options for people throughout the region, and the collaboration between Paymentology and Tuily comes as a milestone for businesses, as they are now enabled to conduct contactless transactions with their business accounts. When commenting on the announcement, Tuily officials stated that the company’s commitment lies in democratising capital, enabling SMBs to transact in an effortless manner, and the launch of Apple Pay comes as a step forward in achieving this mission.

By collaborating with Paymentology and leveraging its agile platform, the company is empowered to adapt quickly and serve its customers better, with the spokesperson saying that they aim to deploy more financially inclusive tools together, not only for Colombian businesses but beyond, to transform the SMB financing landscape. More to this point, Paymentology representatives stated that SMBs in Colombia’s economy have increased significance, as they serve as the backbone of formal businesses, and the company is looking forward to partnering with Tuily, a fintech empowering these enterprises with the essential financial tools to ensure continued success. Per their statement, the integration of such innovative tech is no longer just a choice but comes as a strategic necessity in furthering economic efficiency for businesses, enabling them to focus on their operations with ease.

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