Mexico City, February 13th, 2017.- OXXO and Conekta announce the launch of OXXO PAY, the new e-commerce solution that allows retailers to receive cash payments in stores with real-time notifications, through the brand’s 14,695 stores. Together, OXXO and Conekta, a leading Mexican technology company in digital payment solutions, developed this new payment method to boost e-commerce among the country’s unbanked buyers.
“Making this alliance with OXXO was a very big deal for us, for we really wish to support the population’s unbanked sector and offer retailers a solution to create more efficient payment methods. We understand the need to develop a solution like OXXO PAY in order to create value and make a real impact, by bringing consumers closer to e-businesses and meet their needs”, said Conekta CEO, Héctor Cárdenas.
“We understand that in Mexico there’s a gap between buyers and retailers that must be resolved immediately. That’s why we partnered with Conekta to make payments through OXXO easy, fast, in real time and to the benefit of the retailers that add OXXO PAY as their form of payment. Retailers that wish to join OXXO PAY must enter www.conekta.com/oxxopay to get the service”, said OXXO Financial Services Director, Asensio Carrión
According to the 2016 National Financial Inclusion Report, only 18% of Mexican adults have a credit card, while 61% doesn’t have a bank account. This means that the majority of the consumers are unable to make purchases digitally.
OXXO PAY’s goal is to innovate OXXO’s current payment system, focusing on improving the shopping experience of the consumers who currently carry out their transactions in stores.
OXXO PAY makes a difference by improving digital charges, integrating various functions such as:
- 1) Payment notifications in real time
- 2) Greater conversion, by not having to print a bar code.
- 3) Free-of-charge transactions for the retailers.
- 4) Expiry date to be able to make the payment in minutes, hours or days.
- 5) Easy and fast integration through Conekta by entering www.conekta.com/oxxopay
Buyers will enjoy the multiple benefits of these new way of making digital payments by forgetting, for example, of printing bar codes, as OXXO PAY will provide a 14-digit number reference that you’ll only have to give to the cashier to make your payment in cash in any OXXO store.
Conekta notifies the payment confirmation to the retailers in real time and, according to the payment schedules, transfers the corresponding amount automatically.
Now, with OXXO PAY, retailers will be able to easily and quickly approach the large number of unbanked consumers who wish to make purchases online.
With these actions, OXXO reaffirms its intention of being “Always ready, always there”, and restates its commitment with the communities where it is present, by contributing with access to financial services in the country, so that more Mexicans can benefit from them.
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On Conekta