- The objective of the alliance is to close the financial inclusion gap in the country.
- With this implementation, consumers will be able to access cash withdrawals and enable banking services.
- CASHINFINITYTM will be implemented gradually, starting in: Nuevo León, Chiapas, Guanajuato, Jalisco, Oaxaca and Puebla.
Monterrey, Nuevo León. July 30th 2024. – OXXO and GLORY announced their strategic alliance to offer the best solution for cash operations in Mexico to help close the financial inclusion gap in the country.
As a leader in Mexico’s retail industry, OXXO has used its presence to extend financial services to its customers. On this occasion, it has selected GLORY’s CASHINFINITYTM technology to drive innovation in its network of stores, thereby seeking to improve the experience of its employees and customers.
This is iBox, a CASHINFINITYTM cash recycler from GLORY, with which OXXO will have a virtual ATM in its stores, where consumers will be able to access cash withdrawals and enable various banking services, highlighting the following benefits:
- Increased availability of cash in a secure manner
- Automatically validate and reject counterfeit bills
- Improved store security
- Improved employee and customer experience
CASHINFINITYTM will be implemented gradually in OXXO stores around the country, starting in: Nuevo León, Chiapas, Guanajuato, Jalisco, Oaxaca and Puebla. This technology is focused on offering the best solution for cash deposits and withdrawals through a comprehensive and omnichannel experience, under three principles: availability, security and simplicity.
These iBox, once installed, will be linked to the OXXO system, offering customers a comprehensive solution that allows them to carry out various financial procedures and services in one place without having to travel long distances, for example, withdrawing cash or receiving money transfers from abroad.
In this sense, when a customer requests a cash withdrawal at the cashier with or without a card, remittances, or any other type of withdrawal service, the service can be guaranteed.
“Today marks the beginning of a transformation project that will accelerate financial inclusion in Mexico and help streamline the functions of our store employees, through the implementation of technology and digital innovation, we will continue to meet the needs of our customers and simplify their lives,” said Mónica de Martino, Cash Management Leader at OXXO.
In this regard, Joe Gnorski, President of Glory Global Solutions, Americas mentioned: “We have the experience, the knowledge and the tools, but we also have the passion to help OXXO transform its business and make its vision of strengthening financial inclusion for its customers a reality.”
This is how OXXO will continue to strengthen its strategic alliances to promote financial inclusion in the country, contributing to its economic growth and development, and to the social well-being of Mexicans by offering them innovative solutions.
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About FEMSA’s Proximity Division
FEMSA´s Proximity Division creates economic and social value in the countries where it has presence. It operates different small-format store chains in LATAM and Europe, among which there are OXXO proximity stores. It also operates service stations under the OXXO GAS brand in Mexico and Valora, our European retail unit with convenience store and food service operations. Through its business units, FEMSA´s Proximity Division serves more than 13 million consumers every day, and has more than 160,000 employees, promoting inclusion, diversity and sustainability practices in its teams to operate in harmony with the environment, community and value chain.
About GLORY
Withover 100 years of history with a world leader in cash technology solutions, we provide financial institutions, retailers and securities carriers with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technology and services enable companies in more than 100 countries to optimize cash management, movement and management. As we travel around the world, we personally engage with each customer to address their unique challenges and goals: improving staff efficiency, reducing operating costs, and enabling a more rewarding customer experience.
Employing more than 11,900 professionals worldwide with R&D and manufacturing facilities worldwide, GLORY is based on a strong, technology-driven, customer-centric heritage spanning more than 100 years of history.
