Cardpay Extends Reach into Mexican eCommerce Market

  • Payments
  • 26.11.2019 06:57 pm

Cardpay – global fintech provider and fast-growing payment processor is expanding into the eCommerce market of Mexico. Providing its payment solution to millions of unbanked customers and eCommerce businesses alike. Through Cardpay, businesses can take payments using local payment methods commonly accepted by popular retailers like Walmart, 7eleven, Superama and Extra.

Convenience and retail store sales are a big segment of Mexico’s broader economy; making up two thirds of all retail sales. And with a total of nearly 20,000 in Mexico, retail and convenience stores are essential for the country’s economy, and its millions of people.

“The convenience, department stores and supermarkets are the lifeblood of Mexico,” says Kirill Evstratov, CEO of Cardpay, “It stands to reason that we at Cardpay provide an avenue for businesses to really tap into a population of unbanked, but highly active consumers. There’s a distinct gap between offline consumers and online businesses. This is where we at CardPay come in; we’re working hard to bridge this gap, and bring the two sides together.”

According to studies by the World Bank, more than 63% of people in Mexico are considered ‘unbanked,’ with the majority relying on cash. Through the use of its payment platform Cardpay seeks to provide businesses and consumers with an innovative alternative.

Online merchants can connect to Cardpay’s platform via API and enable new payment methods for their customers in Mexico. As Cardpay has offices situated in Mexico City, it is looking to onboard international companies from the variety of sectors including Marketplaces, Travel, Transportation, IT & Technology.

CardPay was recently voted ‘Best Payment Service Provider’ during the Finance Magnates London Summit 2019 from a range of already well-established nominees. We believe that our eye on the international marketplace, and drive to take domestic businesses global with their payments is part of the reason for this success.

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