What Pagopar does

Pagopar, operated by GRUPO M S.A. and headquartered in Asunción, Paraguay, is a payment gateway and aggregator that enables Paraguayan merchants to accept the full spectrum of local and cross-border payment methods through a single integration. Its platform consolidates card payments (Visa, Mastercard, Amex, Cabal, Panal), domestic QR, digital wallets (Tigo Money, Personal Pay, Giros Claro, Wally, Zimple), cash collection networks (Wepa, Aquí Pago, Pago Express, Infonet), bank transfers, and cross-border PIX (Brazil) and QR Argentina behind one merchant contract, API, and set of plugins for WooCommerce, PrestaShop, Shopify, and Wix. The product surface spans four primary digital tools: Pagopar Checkout (embedded e-commerce checkout), Link de Pago (no-website payment links distributed via WhatsApp and social media), Suscripciones (recurring billing with automatic retry), and CelPOS (smartphone-based contactless POS), supplemented by the uPOS physical terminal and the Pagopar Card consumer product.

Pagopar operates a product-led, self-serve onboarding model: merchants register online, complete document verification, select a tiered plan (Básico, Estándar, or Avanzado, plus the free CelPOS tier), and begin transacting without in-person onboarding. The revenue model combines monthly subscriptions (Gs. 49,000 to Gs. 199,000 per month) with per-transaction take rates ranging from approximately 2% on debit cards to 5% on digital wallets, plus supplementary fees for cash collection points (5.5% + IVA) and e-commerce platform integrations such as Shopify and Wix (0.6% + IVA). Reported platform scale is 15,000+ daily transactions, 10,000+ unique buyers, and 1,500+ registered merchants.

Since 2026, Pagopar has been fully integrated into the upay platform under the ueno bank ecosystem, conferring bank-level regulatory standing, access to deposit accounts and the uPOS terminal installed base, 24-hour settlement for ueno account holders, and cross-sell opportunities. Enterprise e-commerce customers visible in the customer base include CellShop, Casa Nissei, Tuti, Carestino, Aposta.la, and Hendyla.com, alongside a long-tail of SMB Pymes (unipersonal businesses, S.R.L.s, S.A.s) using payment links, mobile POS, or subscriptions. The company maintains PCI DSS compliance and 3DS authentication, with last-mile logistics partnerships with AEX (national) and MOBI (Asunción metro) extending the platform into commerce fulfillment.

Name

Pagopar

Legal name

GRUPO M S.A.

Website

https://pagopar.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Pagopar is a Paraguayan payment gateway and aggregator, operated by GRUPO M S.A. and now part of the upay/ueno bank ecosystem, enabling merchants to accept cards, QR, digital wallets, cash collection, and cross-border PIX through a single platform, API, and e-commerce integrations.

Ownership category

akta.pro rank

Product category

Payment Gateway Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF)

akta.pro secondary industries

Marketplace & Platform Payments (Split Payments, Sub-merchants) (FSAMACAG), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), POS-to-Online Unified Payments (Omnichannel Payments) (CRAFALAL)

Keywords

• Payment gateway services
• Online payment processing
• E-commerce checkout integration
• Recurring billing platform
• Mobile point-of-sale

Headquarters

HQ city

Asunción

HQ country

Paraguay

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Subscription Plans: Merchants pay a monthly subscription fee (Gs. 49,000 to Gs. 199,000 per month) for unlimited transactions across three plan tiers: Básico, Estándar, and Avanzado. Each tier has different transaction fee rates and access to additional features such as international credit card processing and QR payments. The CelPOS plan is free with per-transaction fees.
2. Transaction Fees (Take Rate): Pagopar charges a percentage fee per successful transaction, varying by payment method and plan tier. Debit cards: ~2–3%; credit cards: ~2.9–4%; e-wallets (Tigo Money, Personal Pay, etc.): ~3–5%; QR codes: ~2–2.9%; Pix/Argentina QR: ~2.9%. These fees are the primary revenue driver and are charged in addition to the monthly subscription.
3. Supplementary Service Fees: Additional fees apply for enabling specific cash collection points (Aquí Pago, Pago Express, Wally) at 5.5% + IVA per transaction, and for Shopify and Wix platform integrations at 0.6% + IVA. Delivery services through AEX and MOBI are priced separately by the logistics providers.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels9 records

Core offering

Pagopar is a Paraguayan payment gateway aggregator that consolidates all major local and international payment methods—Visa/Mastercard/Amex/Cabal/Panal cards, ueno and third-party QR codes, mobile wallets (Tigo Money, Personal Pay, Giros Claro, Wally, Zimple), cash collection points (Aquí Pago, Pago Express, Wepa, Infonet), bank transfers, and Brazil's PIX—into a single API and plugin integration layer for merchants. The platform sells e-commerce checkout, shareable payment links (Link de Pago), recurring subscriptions (Suscripciones), and mobile/physical POS acceptance (CelPOS, utap, uPOS), and operates within the upay/ueno bank ecosystem that provides 24-hour settlement to merchant accounts.

Product overview

Pagopar is a multi-channel payment platform that integrates all payment methods in a single solution for online and in-person sales in Paraguay. The product portfolio includes four main digital payment tools: Checkout (e-commerce integration), Link de Pago (payment links for social media/WhatsApp), Suscripciones (recurring payments), and CelPOS (mobile in-person payments). For physical retail, it offers uPOS (smart POS terminal) and utap (NFC phone-based payments). The platform integrates delivery services through AEX (national coverage) and MOBI (metropolitan coverage) for merchants using payment links. Pagopar now operates as part of the upay ecosystem backed by ueno bank, providing additional financial support and credibility. The platform supports major card networks (Visa, Mastercard, Amex, Cabal, Panal), digital wallets (Tigo Money, Personal Pay, Zimple, Giros Claro, Wally), cash payment points (Wepa, Aquí Pago, Pago Express, Infonet), bank transfers, and PIX for Brazilian customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Checkout Pagopar E-commerce checkout solution that integrates every supported payment method (debit and credit cards, QR codes, digital wallets, bank transfers, PIX) into a single integration for Paraguayan online merchants, available via public API or iframe embed, with PCI DSS compliance, 3D Secure authentication, tokenization, and integrated anti-fraud tools.
• Link de Pago (Payment Link) Tool that lets merchants generate a shareable payment link in under 30 seconds from the Pagopar/ueno mobile app or web panel and distribute it via WhatsApp, social media, email, or SMS so they can accept card payments without having their own website.
• Suscripciones (Recurring Billing) Subscription and recurring billing engine that enables automatic debit against local and international credit cards, with merchant-configurable amounts and frequencies managed from one panel and automatic retries plus status notifications on failed payments.
• CelPOS Mobile point-of-sale application that turns an Android smartphone (v11 or higher) into a contactless card and QR acceptance terminal using NFC, accepting credit and debit cards, QR codes, digital wallets, and PIX with no monthly fee.
• uPOS Physical POS terminal offered with or without an integrated printer, featuring a touchscreen display, charger, and WiFi plus mobile network connectivity; accepts Mastercard, Visa, debit, credit, QR codes, and digital wallets with real-time access to transaction information and no maintenance fees.
• Código QR QR code payment solution generated from the uPOS terminal or ueno app that lets merchants accept payments from any bank or digital wallet, including PIX Brazil and QR Argentina, for both ueno and third-party QR rails.
• utap NFC tap-to-pay solution enabling merchants to accept card and NFC-enabled device payments directly through their own Android cell phone (v11 or higher) using the ueno app, with no additional hardware required.
• Pagopar Card Card product offered by Pagopar (operating company GRUPO M S.A.) to consumers for making payments through the Pagopar ecosystem.

Quantifiable outcome

• 15,000+ daily sales processed through the platform
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature9 records

Partnerships

15 partnerships are on record, tiered flagship, core and supporting.

• ueno bankflagshipStrategic or Co-development PartnerPagopar has been integrated into the upay platform, which is part of the ueno bank financial ecosystem. This union provides Pagopar merchants with greater financial and operational backing, access to ueno bank accounts for faster fund deposits (within 24 hours), and integration with additional products such as the uPOS terminal. ueno bank is the parent/parent-brand entity providing financial infrastructure and regulatory standing.
• MOBIcoreOthersMOBI is an integrated delivery/logistics partner providing same-day and next-day delivery services for products sold via Pagopar payment links. MOBI covers Asunción, Luque, Lambaré, Mariano R. Alonso, Fernando de la Mora, San Lorenzo, Villa Elisa, Limpio, and surrounding areas. The service is optional for merchants using payment links.
• AEX (Compañía Panamericana de Servicios S.A.)coreOthersAEX provides national delivery services for products sold via Pagopar links. Coverage spans all departments of Paraguay with pricing based on origin city, destination, package dimensions, and weight. AEX delivery insurance is activated only with a valid fiscal receipt. Service is available for links of payment and WordPress/WooCommerce integrations.
• BancardTechnology or IntegrationBancard serves as one of the primary payment processors integrated into Pagopar, enabling card payment processing (both debit and credit) for domestic VISA and Mastercard transactions. Pagopar operates under Bancard's payment infrastructure for national card transactions.
• upay (payment processing)coreTechnology or Integrationupay is the primary payment processor brand within the ueno bank ecosystem, integrated into Pagopar for both single and recurring card payments (domestic and international) as well as QR processing.
• Tigo MoneycoreTechnology or IntegrationTigo Money is one of the integrated digital wallets available to Pagopar merchants for receiving payments from customers via mobile money.
• Personal PaycoreTechnology or IntegrationPersonal Pay is an integrated digital wallet enabling Pagopar merchants to accept mobile wallet payments from customers.
• WepacoreTechnology or IntegrationWEPA is a cash collection network (boca de cobranza) integrated into Pagopar, allowing customers to pay cash at physical WEPA locations for online purchases made through Pagopar merchants.
• Aquí PagosupportingTechnology or IntegrationAquí Pago is a cash collection point network integrated into Pagopar for customers who prefer to pay in cash at physical locations. Available at an additional fee of 5.5% + IVA per transaction.
• Pago ExpresssupportingTechnology or IntegrationPago Express is a cash collection point network integrated into Pagopar for offline payment settlement. Available at an additional fee of 5.5% + IVA per transaction.
• Infonet CobranzassupportingTechnology or IntegrationInfonet Cobranzas is a cash collection network integrated into Pagopar for customers paying in cash at physical collection points.
• PIX (Brasil)supportingTechnology or IntegrationPIX is Brazil's instant payment system integrated into Pagopar, enabling Paraguayan merchants to receive payments from Brazilian customers via QR code in real time.
• Giros ClarosupportingTechnology or IntegrationGiros Claro is a mobile money and remittance service integrated into Pagopar for payment collection.
• WallysupportingTechnology or IntegrationWally is a digital wallet integrated into Pagopar for mobile payment acceptance. Available at an additional fee of 5.5% + IVA per transaction.
• ZimplesupportingTechnology or IntegrationZimple is a digital wallet integrated into Pagopar for mobile payment acceptance.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• dLocal: Uruguay-headquartered cross-border payment processor enabling global merchants to accept payments across emerging markets including Paraguay, Brazil, and Argentina. Highly comparable given Pagopar's cross-border PIX and QR Argentina rails serving similar merchant cross-border flows.
• Kushki: LatAm-focused payment gateway and orchestration platform headquartered in Ecuador, operating across multiple countries in the region. Most directly comparable to Pagopar in business model: aggregates local and international payment methods for merchants via a single API, with omnichannel capabilities (online + in-person).
• EBANX: Brazilian-founded payment processor focused on Latin America with cross-border capabilities, similar in profile to Pagopar's mix of local payment methods plus regional rails (PIX, etc.). Comparable as a regional payments aggregator serving merchants across multiple LatAm markets.
• Clip: Mexican SMB-focused POS and payments company providing card acceptance hardware and software to small merchants. Comparable on the in-person/physical retail side of Pagopar's CelPOS and uPOS offerings.
• Conekta: Mexican payment gateway offering online payment acceptance, links, and omnichannel tools for SMBs and enterprises. Closely comparable to Pagopar in product breadth (Checkout, payment links, recurring billing) and SMB/enterprise segmentation.
• Niubiz (formerly Visanet Peru): Peruvian card acquirer and payment processor serving merchants with online and in-person payment acceptance. Comparable to Pagopar as a domestic payment processor aggregating card and QR rails for local merchants in an emerging LatAm economy.

Broad incumbents

• Stripe: Global online payments infrastructure provider with growing presence in Latin America. Comparable as a developer-first payment gateway offering Checkout, subscriptions, and omnichannel APIs — overlapping directly with Pagopar's core product suite.
• Mercado Pago: Dominant LatAm digital payments platform embedded in the MercadoLibre marketplace and serving millions of merchants and consumers across the region. Relevant as the broad incumbent Pagopar competes against for merchant payment acceptance in Paraguay and the wider region.
• PagSeguro (UOL): Brazilian payments incumbent owned by UOL, offering online and in-person payment acceptance, point-of-sale terminals, and merchant credit. Comparable as a broad incumbent in a LatAm emerging market with similar product breadth to Pagopar.

Emerging players

• Minka: Cash payment network operator in Latin America enabling merchants to accept offline cash payments at physical points. Comparable to Pagopar's Aquí Pago, Pago Express, Wepa, and Infonet integrations as a cash-collection layer for digital commerce.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pagopar
• YouTubeyoutube.com/channel/UCZH_aDaDxD67y2CNsuqlywg
• Facebookfacebook.com/pagopar
• LinkedInlinkedin.com/company/pagopar
• Instagraminstagram.com/pagopar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Pagopar