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Paytoo growing through partnerships in Latin America

Paytoo, a mobile services and payment provider, has been making moves in the Latin American mobile payment market. The company, a part of the Paymotech group, announced a couple of deals in the past couple of weeks expanding its coverage of the Latin market.

This week, Paytoo announced an agreement with XY Prepago allowing joint provisioning of virtual and telecommunication services from mobile phones in Ecuador. With this agreement, customers will be able to make local and international long distance calls, transfer credits, pay bills, pay merchants and check their balance and withdraw money securely in real-time, the company said.

"This partnership is a great addition to our large scale expansion of international telecommunications," said Paytoo CEO Michel Poignant, in a statement.

The announcement said XY Prepago and Paytoo are offering Ecuador the first complete mobile telecommunications solution.

"Our goal is for any person to walk out of their house with only a cellphone and be able to pay bills, call anywhere in the world or top-up a cellphone anywhere in the world, and soon much more," said Fausto Valencia, CEO of XY Prepago.

Along with its agreement with XY Prepago, Paytoo also recently announced a partnership with Paymentez, a social gaming and digital content payment network with a presence in countries like Argentina, Brazil, Chile, Colombia and Mexico. The Paymentez network includes both an online presence as well as more than 500,000 point-of sale kiosks in retail stores and Internet cafes.

According to Paytoo, the Paymentez agreement means banked and unbanked consumers will soon be able to get a virtual Visa card from the company's mobile wallet product that will give them access to the Paymentez System to pay for games and digital services.

"This partnership is an exciting development for our company," said Simon Holbrook, chief marketing officer of Paytoo. "I’m thrilled that we have Paymentez' cooperation in providing their Latin American online consumers with a virtual card that is extremely safe and easy to use."

For more stories like this, please visit the Bill Payment research center.

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