In a story reported by Startupi, Amazon has launched its first debit card program in Mexico in an effort to integrate more Mexican customers into the platform. Less than a third of adults in Mexico have access to a credit card or bank account, which has slowed the growth of e-commerce.
This is Amazon‘s first debit card program, called Amazon Rechargeable. The card can be loaded up at any convenience store and is backed by Mastercard and Mexican bank Grupo Financiero Banorte.
Amazon’s product director for Mexico, Fernando Ramirez, stated:
“Customers who do not have credit or debit cards will find Amazon Rechargeable an easy and practical way to convert cash into a means of payment.”
Amazon’s investment in Mexico is part of a pattern of large tech companies investing in Mexico, since Google debuted their public wifi program in Mexico this month.
Read more about Amazon in Mexico: