Saldazo, a Visa debit card product co-branded with Banamex bank, has made Mexico’s largest corner store retail chain – OXXO – the country’s number one transactional account supplier. Here are some key success factors, challenges and insights from this project.
Nearly 30 million Mexicans live in rural communities and lack basic infrastructure. As Telecomm brings basic mobile banking services to rural communities, we hear how users benefit from using these accounts in their daily lives.
CGAP has worked closely with Telecomm Telégrafos in Mexico to find out if people in isolated communities who lack cellular coverage, and are far away from any financial institution are willing to use a mobile account, and if so what kind of transactions are they more likely to carry out. This post provides some insights on how mobile accounts are adopted under these conditions and what is the value proposition in the eyes of the consumer.
Telecomm is a decentralized government agency that operates the telegraph services, bridges data connectivity across the territory, and offers financial services such as domestic and international remittances, as well as bill payments. It has decided to launch a pilot program which seeks to close the three most common gaps in financial inclusion: technological infrastructure, channels and products.