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Revolutionizing Cashless Payments in Mexico: The Case of Mimoni/Lumbrera

  • Gabriel Manjarrez
Chapter

Abstract

Mexico is famous for many things, including its Mayan pyramids, gourmet food, chocolate, traditional tequila, impressive reefs and coral formations, to name but a few. This chapter reveals an additional trend among the Mexican population. Within a climate of prevailing mistrusts, technology aversion and misinformation, the majority of the Mexican market is not formally banked. The last 15 years have seen almost no growth in per-capita bank consumer credit. Lack of formal credit scores and uncertain payment behavior make credit-card offerings risky. Within this context, Mimoni, a consumer lending company, offers cash-free solutions through direct personal interaction.

Keywords

Credit Risk Credit Score Consumer Credit Debit Card Customer Acquisition 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Bibliography and Further Reading

  1. Sendhil, M., & Eldar, S. (2013). Scarcity: Why having too little means so much. New York: Time Books, Henry Holt & Company LLC.Google Scholar
  2. Zaiats, O. (2015). FinTech in a nutshell: A short guide for fintech beginners. Kindle edition.Google Scholar

Copyright information

© The Author(s) 2016

Authors and Affiliations

  1. 1.Mimoni/LumbreraPalo AltoUSA

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