n1co

What n1co does

N1co (legal entity N1 Technologies Inc., operating brand 'n1co') is a Central American fintech founded in 2022 and headquartered in Antiguo Cuscatlán, El Salvador, operating across El Salvador, Guatemala, and Honduras. The company runs a dual-sided platform: for consumers, it issues the Tarjeta n1co prepaid card via a mobile app with cashback rewards (0.00%–2.0% across four named tiers), a points-based loyalty program called Co1ns with tier ranks, racha streaks, and a roulette gamification mechanic; for merchants, it provides a full payment acceptance stack including physical POS terminals (n1coPOS), NFC contactless acceptance on Android (n1coTap), URL-based payment links (n1coLinks), QR codes (n1coQR), an online store builder (n1coStorefront), an AI-or-rules-based ChatBOT integrated with WhatsApp, and an API for e-commerce integration. The platform also supports Bitcoin acceptance via a third-party authorized provider with automatic USD conversion, electronic invoicing, order-taking, and a digital coupon marketplace (n1co Cupones).

The business model is primarily transaction-fee based, with n1co charging negotiated per-transaction commissions on card payments processed through any of its acceptance channels, plus recurring POS hardware rental, 3D Secure implementation fees, and platform fees on coupon campaigns. Cashback rewards (funded by interchange and merchant commissions) function as a customer acquisition and retention cost rather than a revenue stream. The go-to-market combines a self-serve mobile app for consumers with a direct sales motion (n1coBusiness) for SMB merchant acquisition, supported by country-specific support lines in each of the three operating markets. All publicly disclosed customers are SMBs in food & beverage, retail, and convenience verticals — there are no enterprise anchor customers identified.

N1co raised $19 million in venture capital in 2022, one of the largest VC rounds in Central America that year per the Cuantico VC report, and has since used that capital to expand the platform's geographic footprint, product surface, and loyalty partner ecosystem. Compliance posture includes PCI DSS declaration. The company positions itself as the first neobank targeting Central America and the Caribbean, anchored by its Salvadoran roots and the region's Bitcoin-friendly regulatory backdrop.

Name

n1co

Legal name

N1 Technologies Inc.

Website

https://n1co.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

101–250 employees

Short description

n1co is a Central American fintech operating in El Salvador, Guatemala, and Honduras, issuing a consumer prepaid card with cashback and Co1ns loyalty rewards while providing SMB merchants with an integrated payment acceptance stack (POS, NFC, QR, payment links, storefront, and API), including Bitcoin payment conversion via a third-party provider.

Ownership category

akta.pro rank

Product category

Digital Payments Platform

NAICS

Credit Card Issuing (522210), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industry

Crypto Payment Gateways & Checkout APIs (FSADAIAA)

Keywords

• Digital payments
• Mobile banking
• Payment processing
• Prepaid card services
• Merchant acquiring

Headquarters

HQ city

San Salvador

HQ country

El Salvador

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain, Infrastructure

Revenue model

1. Merchant Transaction Fees: N1co charges merchants a percentage-based commission on all card transactions processed through its platform (POS, QR codes, payment links, NFC tap). Commission rates are negotiated individually with merchants and subject to periodic review based on market conditions and card network fees.
2. Cashback Program (Cost Structure): The cashback program represents a cost center rather than a revenue stream. N1co offers tiered cashback (0.00%-2.0%) on cardholder purchases as a customer retention and acquisition incentive, funded by interchange fees and merchant commissions.
3. Roulette and Gamification Mechanics: Users spend Co1ns (loyalty points) or cashback balance to spin roulette wheels for prizes. Partner merchants sponsor prizes, creating a co-marketing revenue-sharing model where N1co takes a platform fee.
4. POS Device Rental: N1co leases physical POS (point-of-sale) terminals to merchants for a monthly rental fee, generating recurring hardware-related revenue.
5. 3D Secure Implementation Fee: N1co charges merchants a per-transaction fee for 3D Secure authentication implementation, scaled based on the merchant's fraud risk profile.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels10 records

Core offering

n1co operates a mobile-first digital payments platform combining a consumer prepaid card and financial app with a suite of merchant payment-acceptance tools, including POS terminals, NFC tap-to-pay, QR codes, payment links, an online store builder, and an API for e-commerce integration. It serves both individual consumers and SMBs in El Salvador, Guatemala, and Honduras, with an integrated cashback rewards program, a points-based loyalty program (Co1ns), and Bitcoin payment acceptance routed through a third-party Bitcoin Service Provider.

Product overview

N1CO is a fintech company headquartered in El Salvador operating across El Salvador, Guatemala, and Honduras, offering a multi-product financial technology ecosystem. The core offering centers on the N1CO mobile app paired with a prepaid card (Tarjeta n1co), which together provide consumers with financial management, cashback rewards, and loyalty points (Co1ns). For merchants, N1CO provides a comprehensive suite of payment acceptance tools including n1co POS (physical point-of-sale terminal), n1co Links (payment links), n1co Tap (NFC contactless mobile payments), n1co Storefront (online store builder), and an API for e-commerce integration supporting both card and Bitcoin payments. The ecosystem is extended by a loyalty program (Cashback + Co1ns), a digital coupon marketplace (n1co Cupones), electronic invoicing, international mobile top-ups, and an AI-powered ChatBOT for merchant customer service. The platform also supports Bitcoin payments through a third-party Bitcoin Service Provider, converting crypto to USD for merchants. The business is organized into consumer-facing products (prepaid card, cashback, Co1ns), merchant-facing solutions (POS, payment links, Tap, storefront, API), and social initiatives (Fundación n1co, n1co Jobs).

Differentiator

Problem solved

Functional benefit

Products and services

• Tarjeta n1co (N1CO Prepaid Card) A prepaid card (physical and digital) issued by n1co that enables users to make purchases, receive cashback rewards, accumulate Co1ns loyalty points, and manage their finances through the n1co mobile app. Targeted at individual consumers in El Salvador, Guatemala, and Honduras.
• n1co POS (n1coPOS) A physical point-of-sale (POS) terminal device that allows affiliated merchants to accept credit, debit, and prepaid card payments in person, completing the final transaction between the customer and the merchant.
• n1co Links (n1coLink / Links de Pago) A unique and personalized URL or web link generated by the merchant within the n1co digital platform to manage collection for products or services, which can be shared via any messaging platform or social network for remote payment acceptance.
• n1co Tap (n1coTAP) A mobile application for Android 11+ devices equipped with NFC antenna that allows merchants to accept contactless credit and debit card payments by tapping the customer's card or mobile wallet on their device, eliminating the need for a dedicated POS terminal.
• n1co Storefront (N1COSTOREFRONT) An online store creation tool that n1co provides to affiliated merchants, enabling them to build a personalized virtual catalog of products or services and manage sales payments within the n1co ecosystem.
• n1co ChatBOT (n1coChatBOT) An automated software program that uses AI or pre-programmed rules to interact with the merchant's customers through conversations, integrated into messaging platforms such as WhatsApp to provide real-time guidance, order management, and customer support.
• N1CO API (Integración vía API) An API integration that enables e-commerce websites or applications to process credit, debit card, and Bitcoin transactions, allowing merchants to accept digital payments through their own digital properties, with optional automatic conversion of Bitcoin to US Dollars.
• n1coBusiness A business-focused product line within the n1co ecosystem that targets merchants and affiliated businesses, providing tools to accept card payments, manage sales in real time, and access related financial services.
• Programa de Lealtad Co1ns A points-based loyalty program (Co1ns) where users accumulate points from card purchases, challenges, and in-app activities, redeemable for promotional items, products, and services within the n1co app, with tiered ranks (N1, Plata, Bronce, Dinosaurio), racha (streak) mechanics, and gamified roulette prize wheels.
• Recargas Internacionales An international mobile phone top-up (airtime recharge) service available within the n1co app, allowing users to send mobile credit to phone numbers internationally.
• n1co Cupones (Digital Coupon Marketplace) A digital coupon marketplace operated by n1co where affiliated merchants publish campaigns offering discount coupons to users, who purchase them through the platform; n1co acts as a technology bridge processing payments for the coupon campaigns.

Quantifiable outcome

• Cashback rewards of 0.25% to 2.0% on card purchases up to $100 per transaction
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability1 record

Feature8 records

Partnerships

Nine partnerships are on record, tiered minor.

• Super SelectosminorGTM or Marketing PartnerSuper Selectos, a major supermarket chain in El Salvador, partners with N1co for cashback promotions. The 'Activa tu Super Cashback en Super Selectos' promotion offers enhanced cashback rewards to n1co cardholders who shop at Super Selectos stores.
• Shop USAminorGTM or Marketing PartnerShop USA, an El Salvador-based import retailer, sponsors the 'Ruleta Plus Xmast by Shop USA – Smart TV Edition' promotion within the n1co Co1ns loyalty program. Winners can win Smart TVs and cashback prizes. Shop USA also uses n1co POS and payment processing for its own operations.
• The Coffee CupminorGTM or Marketing PartnerThe Coffee Cup, an El Salvador-based coffee shop chain, partners with N1co for the 'Ruleta Plus The Coffee Cup' promotion. The promotion awards event tickets to the 'Showgirl Coffee' show and coffee rewards, sponsored by The Coffee Cup within the Co1ns loyalty ecosystem.
• SweetsminorGTM or Marketing PartnerSweets, an El Salvador-based bakery/ confectionery chain, partners with N1co for the 'Ruleta Plus Sweet's' promotion. The merchant sponsors prizes including products redeemable at Sweets' participating branches, distributed through the Co1ns roulette mechanic.
• Pavito CriollominorGTM or Marketing PartnerPavito Criollo, an El Salvador-based food business founded in 1996, is featured in the 'comercios ún1cos' merchant stories program. The company uses n1coLinks and QR payment solutions and serves as a reference merchant for n1co's SMB customer base.
• Domino's Pizza (El Salvador)minorGTM or Marketing PartnerDomino's Pizza El Salvador participates in the 'Ruleta Plus N1CO te trae premios' promotion as a prize sponsor, offering '2x1 Pizza Calzone' rewards redeemable at their branches through the Co1ns loyalty program.
• Llaollao (El Salvador)minorGTM or Marketing PartnerLlaollao frozen yogurt chain in El Salvador sponsors 'Mini Tarrina' prizes in the 'Ruleta Plus N1CO te trae premios' promotion, redeemable at their locations.
• AM PM (El Salvador)minorGTM or Marketing PartnerAM PM convenience stores in El Salvador sponsor 'Adán y Eva Maracuyá' frozen treats as prizes in the 'Ruleta Plus N1CO te trae premios' promotion, redeemable at AM PM branches.
• Dennis (El Salvador)minorGTM or Marketing PartnerPancakes Puppies by Dennis are offered as prizes in the 'Ruleta Plus N1CO te trae premios' promotion, sponsored by Dennis and redeemable through the Co1ns loyalty app.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Clip: Mexico-based fintech offering mobile card readers and full payment acceptance stack (POS, links, online checkout) for SMBs. Closest direct comparable to n1co's merchant-side business, though operating in a different LatAm geography.
• Ualá: LatAm neobank offering prepaid cards and a mobile-first financial app across Argentina, Mexico, and Colombia. Closely parallels n1co's positioning as a regional neobank targeting underbanked consumers.
• NEQUI: Colombian digital wallet and prepaid card platform from Bancolombia, targeting unbanked consumers with mobile-first financial services. Comparable to n1co's consumer-side wallet, loyalty, and prepaid card proposition.

Broad incumbents

• Mercado Pago: LatAm's largest digital payments and consumer wallet platform, offering merchant acquiring, prepaid cards, and consumer credit across the region. A broad incumbent whose expansion into Central America would directly threaten n1co's market.
• PagBank (PagSeguro): Brazilian payment processor and digital bank offering POS devices, payment links, e-commerce checkout, and a consumer banking app. Closely mirrors n1co's integrated merchant + consumer model, though at much larger scale.
• Banco Agrícola (Grupo Bancolombia): El Salvador's largest commercial bank and dominant incumbent in payment acceptance and consumer banking. Represents the established competitor n1co must displace in merchant acquiring and consumer cards in its home market.

Regional players

• Konfío: Mexico-based SMB fintech providing payment processing, working capital, and banking tools to small businesses. Comparable to n1co's merchant services and SMB focus, but concentrated in Mexico.
• Tigo Money: Mobile money platform operated by Tigo across Central America (including El Salvador, Guatemala, Honduras), offering payments, transfers, and prepaid services to underbanked users. Directly overlaps with n1co's geographies and consumer segment.

Emerging players

• Chivo Wallet: El Salvador's government-issued Bitcoin wallet launched alongside the country's Bitcoin-as-legal-tender law. A direct competitor in the same geography for both consumer crypto adoption and merchant Bitcoin acceptance.
• Bitso: LatAm-focused crypto exchange and payments company offering merchant crypto payment acceptance across Mexico, Argentina, and Brazil. Comparable to n1co's Bitcoin payment acceptance feature and its positioning around crypto-native SMB services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtiktok.com/@n1co.latam
• YouTubeyoutube.com/channel/n1co
• Facebookfacebook.com/n1co.latam
• LinkedInlinkedin.com/company/n1co
• Instagraminstagram.com/n1co.latam

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about n1co