Do Payment, a Peruvian payment service provider, has revealed plans to expand into the United States (US) and Brazil, having enjoyed success in Latin America.
By the end of 2025, Do Payment aims to process over $700million in transactions, with the planned expansion into the US and Brazil looking to drive much of this growth.
As the global e-commerce market continues to thrive, users and businesses demand faster payments, especially in industries where payments have traditionally been challenging, such as sports betting and gaming. Just two years ago, users could wait up to three days to access their funds in the bank.
Recognising this opportunity in the payments industry, Cristian Valderrama founded the company in 2022, aiming to enable real-time fund transfers to end customers and eliminate payment friction. By 2024, the company had scaled significantly and appointed Francisco Rodríguez as co-CEO to lead the fintech’s expansion with his decade’s worth of experience in Latin American payment systems.
Following success in Peru, Do Payment began to scale its business model across Latin America: eventually settling in Chile, Colombia, Mexico, Ecuador, and Panama. “We expect 30 per cent growth by 2025, driven by the rise of e-commerce, financial services, and online betting,” Rodríguez stated.
In Chile, Do Payment projects even more significant growth this year, reaching 40 per cent, while in Colombia, it anticipates a 20 per cent increase, and in Peru, it expects a 25 per cent rise.
“Clients access our Payin and Payout services through a single regional API, which allows them to operate in all the countries where we are present with just one integration,” Rodríguez added. “This eliminates the need for additional integrations per market, simplifying management and reducing operational costs and time.”
Looking to the future, Do Payment is also working with a number of banks and financial partners in Latin America to connect its system, enabling online betting users to see their funds in real-time.
Setting sights on the US and Brazil
Supporting its next plans for further expansion, Do Payment has already received authorisation from the US Securities and Exchange Commission (SEC) to begin operations in the US.
In response, Rodríguez said: “The US regulator has given us the green light, and we can now operate without issues in the US. We aim to be fully operational as a fintech by the first half of this year.”
While the fintech is also focusing on expansion into Brazil, it has yet to enter the South American country, but is currently targeting entry in late 2025 or early 2026. It says that expansion into Brazil will enable it to offer its clients “world-class payment solutions” across the Americas.
The expansion comes with associated costs, and the fintech is allocating approximately two million for its planned expansions in 2025. “For the following year, we project that investment figure to rise to five million,” Rodríguez added.
Do Payment also has longer-term plans, and is considering looking toward Europe as its next major step in its global growth.
