Sr.Pago

About Sr.Pago

Sr. Pago is a Mexican financial technology company that provides comprehensive payment solutions, primarily targeting small and medium-sized enterprises (SMEs) and the unbanked population in Mexico. Founded in 2010 by Pablo González Vargas and Antonio Flores Aldama, the company emerged from the founders' shared frustration with the lack of accessible financial services and card payment terminals for small businesses in the country.

The core of Sr. Pago's offering is a mobile point-of-sale (mPOS) system that allows individuals and businesses to accept credit and debit card payments using a smartphone or tablet. This service is particularly valuable in a market where many small merchants operate on a cash-only basis. The company's business model revolves around the sale of its card reader devices and a transaction fee charged for each payment processed, typically around 3.5% plus VAT. A key differentiator is that Sr. Pago does not require merchants to have a traditional bank account, pay monthly fees, or meet minimum sales volumes, which removes significant barriers to entry for its target clients. To further serve the unbanked, the company offers a Sr. Pago-branded Mastercard debit card, allowing users without a bank account to access the funds they collect through the mPOS device.

Over the years, Sr. Pago has expanded its services beyond simple payment processing. It developed a suite of tools including an online payment gateway for e-commerce, and features for managing sales, tracking payments, and viewing historical data through a user dashboard. The company has achieved significant milestones, including establishing distribution partnerships with major retailers like Walmart and Chedraui to sell its devices. A major turning point came in August 2021, when Sr. Pago was acquired by Konfío, a larger Mexican fintech focused on providing loans and financial management tools to SMEs. This acquisition integrated Sr. Pago's payment processing capabilities into Konfío's broader ecosystem, creating a single platform offering everything from POS payments and e-commerce solutions to invoicing and business loans.