Kueski Introduces BNPL Payment Option for Amazon Mexico Shoppers
In an exciting development, Kueski, the renowned Latin America-based buy now, pay later (BNPL) provider, has now made its payment service available to Mexican customers shopping on Amazon, as outlined in The Fintech Times. This collaboration aims to offer greater convenience to shoppers and a flexible payment solution for the unbanked population of Mexico.
Kueski Pay is now accessible to select Amazon customers, with plans to extend this option to all eligible customers across Mexico in the coming months. The move is designed to simplify the shopping experience, allowing customers to pay in bi-weekly installments, and without the need for a credit card.
Amazon customers in Mexico opting for Kueski Pay will have the flexibility to choose installment plans of up to 12 bi-weekly payments, catering to a diverse range of financial preferences. This is particularly significant for the 60 percent of adults in Mexico who do not have access to traditional banking services. Additionally, over 70 percent of the population lacks a credit card, making Kueski Pay a crucial inclusionary offering for the region.
Karen Pepper, the Head of Digital Payments for Amazon Mexico, emphasized the importance of providing flexible payment options to meet customer needs. She stated, «Paying in bi-weekly installments with Kueski Pay is Amazon’s latest initiative to provide customers in Mexico with access to affordable payment methods, and expanding Amazon’s secure financing offers with a simple fee structure demonstrates our commitment that Amazon is for everyone.»
The collaboration between Kueski and Amazon enables customers to select their preferred payment method, including linking their bank account, using a debit card, or making cash payments through affiliate networks.
Kueski, which has already issued nearly 15 million loans to individuals and entrepreneurs across Mexico, estimates that one in four of the country’s largest e-commerce merchants offer Kueski Pay as a payment solution. Remarkably, over 60 percent of Kueski’s customers, despite having credit cards, still prefer to use Kueski Pay due to its flexibility.
Andrew Seiz, Senior Vice President of Finance at Kueski, expressed his enthusiasm for this partnership: «This agreement enables Amazon customers to enjoy, for the first time in Mexico, a buy now, pay later option at checkout. This is a significant step forward for Kueski as a leader in flexible payment solutions. Making BNPL available on Amazon Mexico gives millions more people access to the vast Amazon marketplace wherever they are in the country. We are also thrilled to help pave the way forward for BNPL and increase access to financial services for all Mexicans.»
This exciting collaboration between Kueski and Amazon Mexico signifies a significant leap towards financial inclusion and flexible payment solutions for the people of Mexico, allowing them to enjoy the convenience of shopping on Amazon with ease.