Introduction to Key Players and Their Relevance
Clip, a payment platform and aggregator, has announced a partnership with Belvo, a technology company specializing in open finance. The collaboration aims to strengthen Clip’s credit division, focusing on business financing.
Belvo is a significant player in the open finance landscape, providing access to alternative data sources that enable more inclusive financial products. Clip, on the other hand, is a payment platform catering to businesses of various sizes and sectors. This partnership will leverage Belvo’s expertise in open finance to enhance Clip’s credit offerings.
The Power of Open Finance in Extending Credit
Through this collaboration, Clip will utilize labor-related data such as employment history, status updates, and automatic debit payments to build a robust credit infrastructure tailored to the needs of both small businesses and larger enterprises with national operations.
Belvo’s open finance approach addresses the historical exclusion of many from traditional banking systems by analyzing labor data to assess applicants’ stability and income, even without a credit history.
Belvo’s Transaction Volume and Growth
Currently, Belvo processes approximately 2 million transactions monthly, equating to over 500 million pesos annually. This growth reflects the increasing demand for efficient payment methods, particularly in sectors still dominated by cash and manual transfers.
Moreover, Belvo’s transaction volume signifies a shift away from exclusive reliance on traditional data sources. Financial institutions are increasingly adopting alternative information sources to create more inclusive products. In 2025, Belvo has verified over 30 million CURPs with a 98% success rate in labor background checks.
Clip’s Integration of Open Finance Capabilities
Clip has integrated these open finance capabilities as a core component of its strategy to serve businesses across various sizes and sectors. The partnership aims to scale technological integration towards new functionalities, such as direct debit payments.
“This partnership is not just about technology integration; it’s about applying it to tackle real financial inclusion challenges,” stated Federica Gregorini, General Manager of Belvo in Mexico.
Key Questions and Answers
- What is open finance? Open finance refers to the use of alternative data sources, such as labor-related information, to create more inclusive financial products and services.
- Why is this partnership significant? The collaboration between Clip and Belvo aims to strengthen Clip’s credit division by leveraging open finance principles, ultimately expanding access to business credit for underserved populations.
- How does Belvo’s transaction volume reflect industry trends? Belvo’s growing transaction volume indicates a shift towards more efficient payment methods and the increasing adoption of alternative data sources by financial institutions.
- What new functionalities does the partnership aim to introduce? The partnership seeks to scale technological integration towards new functionalities, such as direct debit payments for businesses.
