Among the products that are part of Prex’s strategy in Peru are bimonetary accounts, payments crossborder and the sending of remittances between Uruguay, Argentina and Peru, as well as giving access to microcredits for its users.

Prex started activities in Uruguay in 2015 as a prepaid Mastercard card. Four years later it expanded its market to Argentina.

For its third market, it chose Peru because of the size of the unbanked population and the need of people to use services other than traditional banking.

“[Perú] It makes a lot of sense to our value proposition ”he commented to iupana Agustín Gallo, Chief Growth Officer de Prex.

The fintech hopes to offer products such as cross-border payments, digital payments, and solutions for unbanked people. It aims to deliver “a super app to any client,” Gallo said.

Likewise, the company intends to match the products offered between the three countries where it has a presence and allow the sending of immediate remittances between these markets.

Among the products that stand out the most from Prex is the possibility of offering microcredits. This alternative is possible in the Peruvian market thanks to an alliance with Keo Peru, a fintech specialized in loans, said Susan Raczy, Country Manager of Prex in Peru.

He also highlighted that Prex has the regulation of the Superintendency of Bank and Insurance (SBS), under the line of lender or pawnshop.

With just over a month in the Peruvian market, Prex’s reception has been positive, Gallo said. In fact, the company plans to reach 100,000 active accounts in the first year of operations in Peru.

In the roadmap of growth, Prex sees tentative to offer its products in Chile and Paraguay; however, the first step is to consolidate the Peruvian market.