Alipay has partnered with Openpay in Mexico to further their expansion into the Americas; users of Alipay will now be able to use the service to make purchases at businesses that are affiliated with Openpay; Souheil Badran, President of Alipay Americas stated, “An increasing number of Chinese consumers are shopping for products in Mexico that they can’t find at home, and they want to be able to purchase those items with the payment method they use most often. Our partnership with Openpay not only connects Mexican merchants with Chinese consumers seeking their products and services, but also opens new revenue channels for merchants in Mexico. We are thrilled to be partnering with Openpay as we continue to expand the reach of Alipay throughout the Americas.” Source
Despite high interest rates and risks of a reccesion, many BNPL fintech providers now vie to offer loans to the underbanked in Mexico.
Chilean Datamart raised $6.3 million in a seed round to expand into Mexico. Moonvalley Capital led the funding.
Mexican fintech Cometa raised $5 million in a seed round to cater financial services to education institutions in Mexico.
Goldman Sachs is providing a $100 million line of credit to Credijusto which has been around four years and operates...
Mexican fintech Aplazo concluded its Series B funding round, securing $70 million, with an additional $45 million in new equity financing.
Nubank's second product in Mexico was well received. Country manager Ivan Canales discusses the market strategy with Fintech Nexus.
In two years, Spin has quickly carved out a place of itself as one of the most relevant fintech players in Mexico.
Fairplay provides technology and financing solutions for e-commerce businesses and marketplace sellers in Mexico.
The number of fintechs operating in Mexico has grown consistently. Progress in financial inclusion, however, has been far less explosive.