Mastercard and global fintech Jeeves have partnered to launch the first physical card in Mexico that allows companies to pay in Mexican pesos or in other local currencies immediately. Jeeves is a company that offers corporate cards and an all-in-one expense management platform. Thanks to this partnership, the card will be available to use in all countries where Mastercard operates, and it will allow payment in local currency.
Jeeves’ product allows companies to get their finances ready to start in record time, enabling them to operate immediately. The company has presence in Mexico, Colombia, Chile, Canada, the UK and Europe. Andreessen Horowitz (a16z), Y Combinator and CRV have supported Jeeves with more than $180 million in funding in an effort to create the best global fintech platform.
Mexico hosts one of the fastest growing economies in the world, but its local businesses find obstacles when it comes to accessing credit: exorbitant fees, long bureaucracy processes, tedious delays, etc. This is why Jeeves and Mastercard launched a physical card to make sure they offer the best service for their customers.
Dileep Thazhmon, CEO and founder of Jeeves, explained more about the reason behind this partnership: “The startup ecosystem in Mexico and all of Latin America is thriving. We know their needs. That is why it is so important to have this card. It provides flexibility and security, in addition to all the advantages of Jeeves in terms of payments, at no cost, and a cashback of 4% that is hard to match.”
Read more about this partnership in Business Insider