Amazon Mexico Partners with Kueski for New Flexible Payments
In an exciting move that is set to change the way customers in Mexico shop on Amazon, the e-commerce giant has joined forces with Kueski Pay, a Mexico-based FinTech, to introduce a groundbreaking payment method known as “Pago en Quincenas.” This innovative solution allows users to spread their purchases over biweekly payments, providing greater flexibility and affordability. The partnership aims to cater to the diverse needs of Amazon customers in Mexico, from those without credit cards to the unbanked population. Let’s delve deeper into this transformative collaboration and explore how it promises to revolutionise the shopping experience.
Nos llena de orgullo dar a conocer esta gran noticia. El lanzamiento que muchos de nuestros usuarios estaban pidiendo se hace realidad. Falta poco para que puedas comprar en Amazon y pagar en quincenas con Kueski Pay. #OrgulloMexicano#KueskiYAmazon#KueskiProudpic.twitter.com/BHOSdE3lX8
Mexico, like many other countries, faces a challenge with financial inclusivity. Most of its adult population lacks access to credit cards, with over 60% being unbanked. This poses a significant hurdle in online shopping and making payments. However, the partnership between Amazon Mexico and Kueski Pay aims to bridge this gap and provide an inclusive solution for all.
With Pago en Quincenas, users are no longer required to possess a credit card to access flexible payment options. Customers can pay via a linked bank account, debit card, or cash at affiliated networks. This groundbreaking approach allows anyone over 18 to request this payment option, making it accessible to a vast audience.
Flexible Payment Plans on Amazon
One of the standout features of Pago en Quincenas is its flexibility in payment plans. Customers can opt for plans with up to four interest-free biweekly payments as part of an introductory offer or the extended option of up to 12 biweekly payments. This range of choices empowers customers to select a payment plan that suits their financial situations.
The ease of application adds to the appeal of this payment method. First-time users complete a one-time application during the Amazon checkout process, gaining approval for their credit, and can then place their order and pay later. This streamlined approach ensures a seamless experience for both new and repeat customers.
Amazon’s Commitment to Accessibility
Karen Pepper, the Head of Strategic Initiatives, Payments for Amazon Mexico, emphasises Amazon’s commitment to accessibility and affordability. She notes that Pago en Quincenas is part of Amazon’s strategy to offer customers in Mexico access to affordable payment methods while expanding secure financing options with a straightforward fee structure. Pepper reiterates that Amazon is dedicated to making shopping accessible to everyone, regardless of their financial background.
Kueski Pay’s Vision
Kueski Pay, as a pioneering player in Mexico’s online consumer credit and BNPL (Buy Now, Pay Later) space, recognises the evolving landscape of digital payments. The company boasts almost 15 million loans granted to date and sees a significant uptake among merchants. The partnership with Amazon reflects Kueski Pay’s commitment to providing innovative, secure, and inclusive payment alternatives in Mexico.
Lisset May, Senior Vice President of Sales and Customer Operations for Kueski, emphasises the need for flexibility and security in payment methods. She highlights that Kueski Pay enables merchants to offer innovative shopping experiences and assists Mexican consumers in managing their finances with excitement. The collaboration with Amazon underscores Kueski Pay’s dedication to driving digital trends and modernising the shopping experience in Mexico.
Conclusion
The partnership between Amazon Mexico and Kueski Pay marks a significant step towards a more inclusive and accessible shopping landscape in Mexico. Pago en Quincenas offers flexible payment options that cater to the diverse financial needs of the population, including those without credit cards and the unbanked. With its user-friendly application process and customisable payment plans, this innovative payment method is set to revolutionise how customers shop on Amazon. Amazon’s commitment to accessibility and Kueski Pay’s vision for secure and inclusive payments align perfectly with this exciting venture, promising a brighter and more exciting future for Mexican consumers.
