The app developed by Prisma to compete with Mercado Pago it will stop working on the last day of this month“We have important news”: this is how the email that Todo Pago sent this week to its customers began, in which it finished notifying them of the upcoming changes in its digital wallet and in which it anticipates the integration with PayWay, another of the company verticals.

“Our commitment to customers remains intact, which is why we have decided to focus our efforts on promoting the business, with other types of services in accordance with the dynamics of the current market “, is the justification given by the wallet. Although Todo Pago does not disappear 100% and integrates with Pay Way, it was also recommended to customers check your accounts and if they have a balance, withdraw it by the 30th of this month.

From Prisma they explained that this decision corresponds to a change in the brand’s strategy, which brings together different financial solutions within its umbrella. Now, the decision is to unify those related to the merchant acquisition business under the Payway vertical, a bet that was introduced by the company a year ago.

“The change we are making has to do with unifying brands and streamlining the offer to merchants. All Payment becomes part of Pay way, the most comprehensive and robust suite of value products on the market for merchants to charge with. electronic and digital means of payment “, explained Emiliano Porciani, Chief Commercial Officer of Prisma Mezzi di Payment.

“Pay way offers the widest family of products on the market according to the different needs of businesses, which includes: standardization of business systems for sales with electronic and digital means of payment, smart terminals, dynamic and static QRs, online sales, links payments, payment gateways, automatic debits and telephone sales, ”the executive said.

Porciani, who led the digital transformation of Banco Galicia, is dedicated to the Merchant Payment Solutions Line of Business, or the acquisition activity.

Todo Pago was the first digital banking wallet released atTrying to steal ground from a rising Mercado Pago at the end of 2016. And while it has introduced major innovations in the local digital payment methods segment, for example, it was the first wallet to offer a payment link so that providers could charge remotely, its model has not taken off.

Last year, Todo Pago redirected its proposal and addressed it to small businesses. The version relaunched in 2021 no longer defined itself as a classic digital wallet, but as a platform focused on collection solutions. Prisma is expected to finish presenting the package of services and solutions that will integrate Pay Way in the coming months.

Prisma will thus seek to compete for the digital acquisition of companies, professionals and entrepreneurs, a segment led by Mercado Libre’s fintech, Mercado Pago, but where other players have managed to position themselves.

For example, Ualá has launched Ualá Bis, a collection solution with mPOS and QR for face-to-face sales and a payment link and integrations to online stores for Internet sales. Between January 2021 and March 2022, the volume traded grew 64 times and the number of active trades grew 11 times.