Mexican Payments/Commerce Platform Clip Raises $100 Million

In Latin America, cash remains king. That’s true for many markets in the region, and Mexico stands out as a prime example. Roughly 85% of transactions are done in cash, and the country is five to 10 years behind other countries when it comes to...

Mexican commerce and digital payments platform Clip has obtained a $50 million credit facility from Morgan Stanley, J.P. Morgan and HSBC that it will use to continue adding payments solutions for the country’s businesses as well as improving financial access for both business and consumers....

Mexican consumers are using their mobile devices to purchase everything from groceries to movie tickets, leading merchants to reassess their payment offerings. In the latest Digitizing Payments In Latin America Playbook, Clip’s Mariano Carranza explains how merchants’ ability to offer payment tools such as mobile...

Latin America’s online banking and payment ecosystem has expanded rapidly since the start of the pandemic, especially within Mexico, where rising rates of smartphone and internet penetration have pushed the adoption of digital wallets and related tools up. While a high portion of the country’s...