Business

TaaS: The Next Big Thing for the Banking and Fintech Sectors

In recent years, the banking and financial services industry has undergone a digital transformation unlike anything seen before. Consumer behavior has shifted, technology has advanced, and new entrants have challenged the status quo. The rapid adoption of digital channels in a post-pandemic world has disrupted traditional institutions and placed fintech companies at the forefront of this financial revolution. In fact, according to studies conducted by the Inter-American Development Bank (IDB), the fintech industry doubled in size between 2018 and 2022 in Latin America and the Caribbean. Fintechs are undeniably on the rise and transforming the system; however, despite the evolving…

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Business

Why chatbots?

The image of chatbots brings out memories of the internet around 2008. Just a random pop up in the lower right corner of every page waiting for you to type whatever you thought about and receiving no answer- But OXIO’s chatbot is not our childhood’s chatbot!  We decided on using Guschat’s chatbots because, although we love personalized service, with the growth of our user base we needed something to filter the frequently asked questions with simple answers (what’s my phone number? What’s my balance? How do I top-up? etc) from the complex, one-of-a-kind issues that require a personalized interaction with…

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BusinessUncategorized

Integrating Credit and Debit Cards into OXIO’s payment ecosystem

  Credit card payments have become a staple in the world, however, credit card adoption in Mexico has been slow. According to Statista in 2017, 9.22 percent of Mexicans aged 25 or older owned a credit card, down from approximately 18.88 percent in 2014. However, with the  increased proliferation of mobile apps like Uber, Spotify and even Netflix during the pandemic joined by the push from new fintech startups and cheaper offers by big banks (like Saldazo OXXO by Banamex) Mexicans have been more open to engage with online payments. So, when we first launched our mobile services with only…

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