November 15th 2022. Deal Integrates Getnet’s Industry Leading Merchant Payments Technology with Pacto’s All-in-One Point of Sale (POS) for One of the Fastest Growing SMB Categories in Latin America.
Getnet Mexico, the banking and payments processing platform from PagoNxt, in a joint venture along with Pacto, the all-in-one platform for restaurants and bars with integrated payments, announced a strategic commercial partnership and distribution deal. The alliance pairs the powerful, all-in-one, tech solution from Pacto, a cloud based operating system (POS) fully integrated, with the best-in-class payment processing hardware and software from Getnet Mexico.
The exclusive agreement will give existing Getnet Mexico merchants access to the all-in-one Pacto platform to elevate and enhance their day to day operation in a seamless way. Further, within the next year, the Pacto-Getnet bundle will be available for any merchants in Mexico (within the food and beverage industry) and is estimated to onboard at least 1,500 restaurants and bars by the end of 2023.
Rodrigo Kuri, Pacto co-founder and Chief Commercial Officer (CCO), believes the integration between orders, tickets, and payments is a feature for the domestic market that makes Pacto’s solution unique. “We’re excited to pair our best-in-class restaurant operating system with Getnet’s best-in-class payments ecosystem to connect the dots between the payment transaction and the order details.”
Getnet Mexico is an industry leading, best-in-class digital payments technology, who offers payments processing through smart bank terminals, enabling merchants to accept card present and non present transactions with the lowest merchant fees in the market.
Pacto is an emerging Mexico City-based tech startup with a mission to power digital commerce for merchants in Mexico and Latin America.
Gordon Whitehouse, co-founder and Chief Technical Officer (CTO) at Pacto agrees on the power of the platform. “Pacto operating system provides restaurant owners with a fully comprehensive view of their business: from inventory and reconciliation through to deposit of the funds.”
With its cloud based operating system, Pacto offers a powerful tool for a seamless operation and management of restaurants and bars. The platform includes automatic reconciliation, inventory management, dynamic menu management, table management, and order & pay functionalities. The full Pacto software stack is now integrated with payments processing through present and non present card transactions, digital wallets, and cash.
Fabián Ferrari, CEO at Getnet Mexico; along with Ryan Croft, co-founder and CEO at Pacto, view this agreement as a strong starting point between the two firms.
For Croft, this partnership drives Pacto’s mission of making digital payments accessible for the estimated 584,000 restaurants and bars in Mexico. “This agreement will push us forward on our mission to bring digitization and financial inclusion to food and beverage industry business owners. Along with Getnet Mexico, we’ll be able to provide digital payments processing to create a more integrated cashless economy,” said Ryan Croft, Pacto co-founder and CEO.
In the same way, Ferrari is confident as well for this partnership to generate traction and exponential growth to Getnet in the domestic market, as a trailblazer in digitization for the F&B industry. “Global events in recent years have catapulted the adoption of technology, especially in the hospitality sector, as they search for new alternatives for cashless payments, which is becoming the standard all over the world and Mexico is surprisingly fast adopting it as well.”
Industry research shows a rapid adoption of digital payments across Mexico. Estimates show 78 million customers will adopt digital payments in the next three years. Pacto and Getnet are betting on Mexico’s growth potential, where currently 70% of established restaurant businesses have yet to digitize their operations.
Pacto is a B2B payments and operating platform dedicated to making digital commerce accessible for the merchants of Latin America. Pacto builds tools and technology to empower merchants to move beyond cash payments and accelerate growth in their digital business. Headquartered in the US, Pacto has an office in Mexico City. Since launching in March 2022, the company has raised $2.6m USD backed by FEMSA Ventures, 500 Startups Latin America, Leap Global Partners, Kevin Carter, Lightspeed Venture Partners, First Check Ventures, and a group of individual investors from companies including Stripe, Airbnb, Uber, DoorDash, Capital One, and Google.
To learn more about Pacto visit pacto.co or follow on social media @PagaPacto.
Getnet, a PagoNxt company, is a global acquiring franchise developed to create opportunities for merchants worldwide. It improves the simplicity, speed and safety of payments for merchants across gateway, risk management, processing, schemes connectivity and issuers services. Getnet offers merchants access to multi-channel, multi-method, multi-country payments, always under best anti-fraud standards. In 2021, it had more than 1.2 million clients, processed €115 billion in some 5.7 billion payments. Getnet has the third highest customer base and turnover among Latin American merchant payment firms. Active in Brazil (as an e-commerce leader), Mexico, Chile, Argentina, Uruguay and Europe. Getnet has operational headquarters and technology hubs in Madrid, Munich, Dubai, Chennai and Porto Alegre. It has over 2,300 employees worldwide.