Velpay

Velpay is a Mexican payment solutions provider based in Monterrey, Nuevo León, that offers point-of-sale (POS) terminal services for businesses across Mexico. The company specializes in providing intelligent mobile and wireless payment terminals that enable merchants to accept card payments from Visa, Mastercard, and American Express. Velpay's core product line includes two main terminal models: Velpay Next, a standalone smart terminal with WiFi connectivity and integrated touchscreen functionality, and Velpay Go, a compact mobile terminal that connects to smartphones via Bluetooth and requires the Velpay Go mobile app available on iOS and Android platforms. The company targets small and medium-sized businesses, particularly in retail and food service sectors, offering its terminals on a no-cost, no-rental basis through a comodato (loan for use) arrangement. Merchants pay transaction commissions starting from 2.5% per sale, which Velpay positions as among the most competitive rates in Mexico. According to the company's terms and conditions, Velpay processes transactions up to 99,999 Mexican pesos per individual transaction and provides electronic receipts via email and SMS. The terminals offer additional features beyond payment processing, including business administration tools, digital services integration, QR code payment acceptance, and electronic ticketing capabilities. Velpay operates from its headquarters located at Avenida Manuel Gómez Morín 1105, interior 306, Colonia Carrizalejo, San Pedro Garza García, Nuevo León. The company appears to function as a payment facilitator or aggregator rather than a fully regulated financial institution under Mexico's CNBV framework, focusing on providing payment acceptance infrastructure to merchants throughout Mexico's diverse geographic regions.