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

2016
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Author: Gabriel Manjarrez
Published in: The Book of Payments
Publisher: Palgrave Macmillan UK

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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.

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previous chapter The Single Euro Payment Area (SEPA): Implementation in Spain

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Title: Revolutionizing Cashless Payments in Mexico: The Case of Mimoni/Lumbrera
Author: Gabriel Manjarrez
Publisher: Palgrave Macmillan UK
Book: The Book of Payments
Print ISBN: 978-1-137-60230-5

Electronic ISBN: 978-1-137-60231-2

Copyright Year: 2016
DOI: https://doi.org/10.1057/978-1-137-60231-2_30

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