Amazon Mexico has partnered with Fintech Kueski to offer personal loans and Buy Now Pay Later (BNPL) solutions to its customers in Mexico. This marks Amazon’s first BNPL offering in the Mexican market, and it will initially allow customers to make payments in bi-weekly installments on up to 12 purchases. Kueski will provide the financing for these purchases and determine each user’s credit allowances. This partnership is part of a larger trend of financial services startups emerging in Mexico to reach the underserved population.
Kueski, in operation since 2012, has grown significantly in recent years and raised $202 million in a Series C funding round in late 2021. It launched its BNPL services in 2021, and the integration with Amazon is expected to further drive its growth. Mexico has emerged as a leading fintech hub in Latin America, second only to Brazil. Kueski sees significant opportunities for growth in Mexico and will continue to focus on the market in the near to medium term.
Amazon’s partnership with Kueski is significant because it allows the e-commerce giant to expand its payment options and reach a broader customer base in Mexico. By offering BNPL solutions and personal loans, Amazon can cater to customers who may not have had access to financing before. This aligns with Mexico’s goal of increasing financial inclusion by working with fintech companies to provide accessible financial services.