MODO
- Company typePrivate
- Founded2020
- HeadquartersBuenos Aires, Argentina
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
MODO firmographics
Firmographics- Name
- MODO
- Legal name
- Play Digital S.A.
- Website
- https://modo.com.ar
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
MODO industry classification
Industry- Product category
- Mobile Digital Wallet / Payments
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
- akta.pro secondary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
Keywords
Where MODO is headquartered
LocationHeadquarters
- HQ city
- Buenos Aires
- HQ country
- Argentina
- HQ region
- Latin America
Offices1 record
Markets served
MODO business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Transaction Processing: MODO generates revenue through transaction processing between consumers and merchants, with no costs or commissions charged to merchants for accepting MODO payments
- Promotional Advertising: The platform features promotional campaigns and discount programs from participating merchants, potentially including sponsored promotions and featured merchant listings
- MODO+ Premium Subscription: MODO+ premium tier provides enhanced features and benefits to subscribers, creating a recurring revenue stream from power users
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Free for consumers and merchants with no transaction fees |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
MODO product offering
Product offeringCore offering
MODO is a digital wallet platform operated by Play Digital S.A. that is embedded inside the mobile applications of partner Argentine banks. It enables consumers to make QR and NFC payments, send peer-to-peer money transfers, pay highway tolls via TelePASE, pay via Brazil's Pix system, and access a weekly promotional discount program from participating merchants, all without transaction fees for merchants. A premium tier (MODO+) and merchant acceptance solutions extend the offering to banks, retailers, and corporate clients.
Product overview
MODO is an Argentine digital payments platform operated by Play Digital S.A. The platform functions as a digital wallet embedded within partner banking applications, offering a unified suite of payment capabilities including QR code payments, NFC contactless payments, money transfers, and Pix integration for Brazil. The core MODO Digital Wallet serves as the primary product, with MODO+ representing a premium subscription tier. The platform aggregates promotional discounts and operates a merchant network allowing businesses to accept payments without commissions. The architecture is designed as a banking-app-embedded service rather than a standalone application.
Differentiator
Problem solved
Functional benefit
Brands
- MODO+: Premium payment services tier offering enhanced features
Products and services
- MODO Digital Wallet Core consumer digital wallet platform embedded within Argentine partner banking applications, enabling users to make QR and NFC payments, send peer-to-peer money transfers, pay highway tolls via TelePASE, and access weekly promotional discounts from participating merchants. Targeted at Argentine consumers with accounts at partner banks.
- MODO+ Premium subscription tier of the MODO platform that offers enhanced features and additional benefits to subscribers, generating recurring revenue from power users.
- MODO Merchant Solutions Acceptance solutions for Argentine physical and online merchants, enabling them to accept QR and NFC MODO payments at no additional cost or commission, and to participate in promotional campaigns. Targeted at SMB retailers across Argentina.
- MODO Open Banking Open Banking framework offering secure data sharing and integration of financial services, enabling partner banks and third parties to build on top of the MODO platform infrastructure.
Quantifiable outcome
- 31.6% digital wallet market share in Argentina, ranking second only to Mercado Pago
Companies that use MODO
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
MODO technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature6 records
MODO partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core, flagship and minor.
- Argentine Partner BankscoreMODO is embedded within the apps of multiple Argentine banks, allowing their customers to access MODO payment features directly through their existing banking applications. Users can transfer money, pay with QR/NFC, and access promotions through their bank's platform.
- Deutsche BankflagshipDeutsche Bank partnered with Modo to expand B2B and B2C payment capabilities, offering digital payment services to corporate clients through this collaboration.
- Mercado PagominorWhile not a partnership, Mercado Pago is noted as the market leader in Argentina's digital wallet space with 74.4% usage, against which MODO competes with its 31.6% market share.
- Blake Investment PartnersminorMODO was listed as part of Blake Investment Partners' development team for the $260 million Historic Gas Plant District redevelopment bid in St. Petersburg, Florida. MODO's role in this development team suggests involvement in payment or transaction infrastructure for the project.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
MODO competitors and assessment
Company assessmentDirect peers
- Brubank: Brubank is a digital-first Argentine bank offering a wallet, transfers, QR payments, and consumer accounts. Like MODO, it leverages mobile-first banking-app distribution to acquire payment users, making it a comparable embedded-finance-and-wallet competitor in Argentina.
- Personal Pay: Personal Pay is the wallet product of Telecom Argentina's Personal, offering QR payments, transfers, and bill pay to Argentine consumers. It targets the same use cases as MODO — everyday payments inside a mobile-first wallet — and competes for share within the same telecom/banking customer base.
- Naranja X: Naranja X is the digital wallet and financial-app arm of Tarjeta Naranja in Argentina, providing QR payments, transfers, and consumer credit. It competes directly with MODO for Argentine consumer payment wallet share, with a comparable feature set spanning payments, transfers, and merchant offers.
- Cuenta DNI: Cuenta DNI is the wallet of Banco Provincia de Argentina and is widely used for QR payments, transfers, and promotions. As a bank-distributed wallet, it is structurally comparable to MODO's bank-app-embedded model and competes for the same consumer payment moments.
- Mercado Pago: Mercado Pago is the dominant Argentine digital wallet, cited at 74.4% market share versus MODO's 31.6%. It offers QR/NFC payments, P2P transfers, credit, and merchant acquiring — the same product surface MODO targets, and the primary direct competitor in the Argentine wallet space.
- Ualá: Ualá is an Argentine consumer fintech offering a prepaid card and digital wallet for payments, transfers, and savings. It competes with MODO for Argentine consumers' daily payment and transfer activity and represents another non-bank wallet alternative in the same market.
Regional players
- PicPay: PicPay is a major Brazilian digital wallet offering QR payments, P2P transfers, and merchant acceptance. It is comparable to MODO in product surface and Pix ecosystem participation but operates primarily in Brazil rather than Argentina.
Emerging players
- dLocal: dLocal is a Uruguay-based cross-border payments platform enabling global merchants to accept payments across Latin America, including Argentina. It overlaps with MODO on payment-rail orchestration in Argentina but targets cross-border merchant acquiring rather than domestic consumer wallets.
- EBANX: EBANX is a Latin American cross-border payments processor with deep Pix integration in Brazil and operations in Argentina. It intersects with MODO on Pix-enabled cross-border flows and merchant acceptance, though it focuses on global merchants rather than domestic consumer wallets.
Broad incumbents
- MercadoLibre: MercadoLibre is the parent of Mercado Pago and Argentina's dominant e-commerce and fintech ecosystem. Its marketplace, credit, logistics, and wallet footprint set the competitive ceiling MODO faces and make it the broader incumbent against which MODO's bank-consortium model must compete.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
MODO social profiles
Digital presenceMODO financial estimates
Financial estimateRevenue estimate
Valuation estimate
MODO leadership team
Management profileNumber of profiles
Profiles1 record
MODO subsidiaries and ownership
Company hierarchySubsidiaries1 record
MODO funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MODO M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MODO
What does MODO do?
MODO is a digital wallet platform operated by Play Digital S.A. that is embedded inside the mobile applications of partner Argentine banks. It enables consumers to make QR and NFC payments, send peer-to-peer money transfers, pay highway tolls via TelePASE, pay via Brazil's Pix system, and access a weekly promotional discount program from participating merchants, all without transaction fees for merchants. A premium tier (MODO+) and merchant acceptance solutions extend the offering to banks, retailers, and corporate clients.
Is MODO a public or private company?
MODO is a private company. It is classified as corporate owned and is currently operating.
When was MODO founded?
MODO was founded in 2020. It employs 1 to 10 people.
Where is MODO based?
MODO is headquartered in Buenos Aires, Argentina, in the Latin America region.
How does MODO make money?
Three revenue lines are on record. Transaction Processing is the primary driver. The others are promotional Advertising and MODO+ Premium Subscription.
Who are MODO's main competitors?
Direct peers on record are Brubank, Personal Pay, Naranja X, Cuenta DNI, Mercado Pago and Ualá. PicPay is listed as a regional player. Emerging players are dLocal and EBANX. MercadoLibre is listed as a broad incumbent.
Does MODO have an API?
No public API is recorded for MODO.
What industry is MODO in?
MODO's product category is Mobile Digital Wallet / Payments. Its primary akta.pro industry code is FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its SIC code is 6199.