SB Pay

Name

SB Pay

Legal name

Matic Kard S.A.

Website

https://sbpay.cl

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Monthly Administration Fee: Monthly card maintenance fee charged based on card usage during billing period. Fee is charged when card has transactions including purchases, advances, insurance, or automatic payments. Fee structure: 0.245 UF for existing clients (approx $8,237), reduced to 0.145 UF for new clients from January 22, 2025 (approx $5,683).
2. Interest Income: Interest revenue generated from installment purchases, cash advances, revolving credit balances, and late payments. Interest rates are regulated by CMF and subject to Maximum Conventional Rate.
3. Cash Advance Fees: Fees and interest charged on cash advances (Avance and Súper Avance) with transfer to bank account. Advances available from $20,000 (regular) and $50,000 (Super Avance), payable in installments up to 36 months (regular) or 48 months (Super Avance).
4. Refinancing and Debt Restructuring: Revenue from debt refinancing services allowing customers to restructure existing debt into manageable installments

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

SB Pay, operating as Matic Kard S.A., is a Chilean consumer credit card issuer that provides the sbpay VISA credit card along with cash advance products (Avance, Súper Avance), debt refinancing (Refinanciamiento), credit life insurance (Seguro de Desgravamen), and the sbpay Prime loyalty rewards program. The card is distributed through retail partnerships with Salcobrand pharmacies and Preunic stores, and the company operates a digital banking portal (Sucursal Virtual) and mobile app for account management.

Product overview

SB Pay operates as a Chilean credit card issuer offering the sbpay VISA as its primary product, a credit card enabling domestic and international e-commerce purchases, cash advances with immediate bank transfer, and access to merchant benefits at Salcobrand and Preunic retail locations. The product portfolio includes the sbpay Prime loyalty program (a points-based tier system unlocking free delivery and other perks), Avance and Súper Avance cash advance services (with installment repayment options), debt refinancing capabilities, and voluntary insurance products. Customers interact with the service through the sbpay-branded Sucursal Virtual online portal and the App Salcobrand mobile application, with physical card issuance and support available at Salcobrand pharmacies and Preunic stores across Chile.

Differentiator

Problem solved

Functional benefit

Brands

• sbpay Prime: Loyalty rewards program for sbpay VISA cardholders, offering points accumulation and tiered benefits including free delivery coupons and exclusive discounts.
• Avance sbpay
• Súper Avance sbpay

Products and services

• sbpay VISA Credit Card Primary consumer credit card product issued under the VISA network by SB Pay (Matic Kard S.A.), offered to individual Chilean consumers and distributed via Salcobrand pharmacies and Preunic retail stores. Used for everyday purchases at partner retailers with revolving credit and rewards.
• sbpay Prime Loyalty/rewards program tied to the sbpay VISA card that provides benefits and rewards on purchases, primarily at partner retailers Salcobrand and Preunic.
• Avance (Cash Advance) Cash advance product allowing sbpay VISA cardholders to withdraw cash against their available credit line. Targeted at cardholders needing short-term liquidity.
• Súper Avance (Super Cash Advance) Premium tier cash advance product providing sbpay cardholders with enhanced/larger cash access beyond the standard Avance product.
• Refinanciamiento (Debt Refinancing) Debt refinancing service that enables sbpay cardholders to restructure existing revolving balances into new payment terms, helping manage debt repayment.
• Seguro de Desgravamen (Credit Life Insurance) Credit life insurance product bundled with the sbpay VISA card that covers the outstanding balance in the event of the cardholder's death, protecting the cardholder's family from inherited debt.

Quantifiable outcome

• Up to 30% discount on pharmacy purchases at Salcobrand
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• SalcobrandcoreChannel Partner/ Reseller/ DistributorPrimary retail partner for SB Pay credit card distribution and benefits. Salcobrand is a major Chilean pharmacy chain. SB Pay cardholders receive exclusive discounts (up to 30%), cashback through Mi Salcobrand loyalty program (up to 50% additional), and free delivery coupons through sbpay PRIME. Card issuance available at all Salcobrand pharmacy locations throughout Chile.
• PreuniccoreChannel Partner/ Reseller/ DistributorPrimary retail partner for SB Pay credit card distribution and benefits. Preunic is a Chilean retail chain. SB Pay cardholders receive exclusive discounts through Mi Preunic loyalty program (10% additional). Card issuance available at Preunic store locations throughout Chile.
• VisacoreTechnology or IntegrationInternational payment network partnership enabling SB Pay credit card usage at Visa-accepting merchants worldwide, both in-store and e-commerce. Visa chip technology provides enhanced security with over 500 security layers for transaction verification.
• MULTI ASSIST S.A.minorImplementation/ SI/ Consulting PartnerAssistance services provider for sbpay PRIME loyalty program. Responsible for fulfillment of assistance services and terms and conditions. Provider RUT 96.809.480-7.
• CMF ChileminorOthersChilean Commission for the Financial Market - regulatory body overseeing credit card issuers. SB Pay is regulated by CMF and registered in the Card Issuer Registries (Registros de Emisores de Tarjetas).

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Others

• Visa (issuer network): Global card network on which SB Pay's sbpay VISA rides. Not a direct competitor but the underlying infrastructure enabler for SB Pay's card products.

Emerging players

• Global66: Chilean-born fintech expanding across LATAM with multi-currency accounts and consumer financial products. Comparable as a Chilean fintech scaling consumer financial services, though more cross-border/remittance-focused.

Broad incumbents

• Mercado Pago (Chile): LATAM fintech super-app offering credit, payments, and consumer finance. Comparable as a consumer credit provider in Chile with much broader scale and ecosystem.
• BancoEstado: Chilean state-owned bank with broad consumer credit and credit card offerings. Comparable as a major provider of consumer credit cards to Chilean mass-market consumers, but with deposit funding advantage.
• Falabella (CMR): Chilean retail group issuing CMR store credit cards. Comparable as a retail-embedded consumer credit card business in Chile, though with materially larger scale and parent retailer integration.
• Cencosud (Cencosud Card): LATAM retailer-issued credit card business (Jumbo, Easy, Paris brands). Comparable as a retail-embedded consumer credit card model operating across Chile and the region.
• Ripley (Pago Ripley): Chilean department store card issuer with consumer credit products. Directly comparable business model of retailer-branded credit cards targeting Chilean consumers.

Direct peers

• Tenpo: Chilean digital fintech with prepaid Mastercard and consumer credit features. Comparable as a Chilean non-bank issuer building a digital wallet and consumer credit franchise.
• Prex: LATAM-origin prepaid/credit fintech with Chilean operations offering card products to consumers. Similar digital-first consumer credit positioning and distribution approach.
• MACH: Chilean fintech offering prepaid cards and credit products to consumers, often distributed through retail partners. Directly comparable to SB Pay as a non-bank consumer credit provider targeting similar Chilean segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/sbpay
• Facebookfacebook.com/SBPay.Chile
• LinkedInlinkedin.com/company/sb-pay

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

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 SB Pay