Palomma

Palomma is a fintech startup that focuses on enabling frictionless Pay by Bank payments for online merchants and apps in Latin America, starting with Colombia. The company aims to help merchants save 70-80% on card processing fees and improve payment conversion rates by allowing customers to pay directly from their bank accounts without using credit or debit cards. Palomma offers a single API and platform that integrates Pay by Bank payment capabilities, simplifying the payment process and reducing costs associated with traditional card payments. The company is also developing solutions for cash-out bank payments through the same API, expanding its payment ecosystem. With a strong early traction, Palomma achieved an 85% conversion rate from customers shortly after launch and has signed on 20 merchants, including one of Latin America’s largest fashion retailers.