Miranda’s Mex Fintech Monitor
Monday AM, April 17, 2023
Mexico FinTech News
Spin by Oxxo formally enters the remittance market
Femsa’s FinTech Spin by Oxxo entered the remittances business allowing users to receive and send money through partnerships with Western Union, MoneyGram, Paypal’s XOOM and Remitly, among others. With more than 17,000 stores, Oxxo will become the remittance receiver with the most locations in Mexico. Users will also be allowed to receive deposits and make payments for up to P$200,000/month. Spin by Oxxo also announced that it had reached 6 million clients just two years after its launch.
El Financiero, 04/14/2023, Staff: Remesas ‘coquetean’ con SPIN by Oxxo: Femsa podría desplazar al Banco del Bienestar por esto
El Economista, 04/12/2023, Edgar Juárez: A dos años de su lanzamiento, Spin by Oxxo tiene ya 6 millones de clientes
Keep reading with a 7-day free trial
Subscribe to Miranda Intelligence Newsletters to keep reading this post and get 7 days of free access to the full post archives.