Pagaphone

PagaPhone SmartPay is a Mexican fintech company operating as part of the PagaCel ecosystem, which describes itself as the first Mexican FinTelco combining financial and telecommunications services. The company operates as an Institución de Fondos de Pago Electrónico (Electronic Payment Funds Institution) with regulatory authorization P183/2021 issued by the Comisión Nacional Bancaria y de Valores on June 24, 2021, and published in the Diario Oficial de la Federación on December 6, 2023. The company's core offering is the PagaCel Wallet, a digital financial platform that provides remittance collection and sending services between the United States and Mexico, along with a Mastercard debit card, SPEI transfers, utility bill payments, and mobile phone recharges. PagaPhone has established partnerships with major money transfer operators including Western Union and MoneyGram, enabling recipients in Mexico to receive remittances directly to their mobile wallets without visiting physical locations. The company targets the unbanked and underbanked population in Mexico, focusing on financial inclusion for Mexicans abroad and foreigners in Mexico. PagaPhone was recognized by PROFECO as the remittance company that delivered the most resources in Mexico during monitoring periods. The PagaCel ecosystem includes PagaPhone SmartPay as the fintech arm, Orange My Mobile as a Mobile Virtual Network Operator (MVNO), and Cloud Transfer Services as a money transmitter operator. The company provides both B2C services including direct consumer account opening and remittance services, and B2B solutions for payroll disbursement and digitalization of internal business financial processes. Founded in 2018 and headquartered in Mexico City, PagaPhone operates with a Software as a Service business model.