Payments to Mexican Families May Be Easier with Sr. Pago's Hot New Mobile App CH Smith - The Latino Post
go to original July 24, 2014

Sr. Pago Brings Banking to Mexico's 'Unbanked' - Testimonials (Pablo Gonzalez Vargas)

Unbanked: it's a financial term you don't hear often in the United States - unless you try to send money to a relative in Latin America. For millions in places like Mexico without a proper bank account, the term is all too familiar.

That means no access to bank debit cards or cash withdrawals. There are reportedly 75 million Mexicans with no bank account, and a new mobile app service called Sr. Pago plans to change that.

The service was launched in 2013, with a focus on the OXXO convenience store chain, enabling people to make payments for goods sold there by just using their web connection, according to Sr. Pago.

But now the startup, which just received $1 million in investment funds, according to a TechCrunch.com report, will focus on getting those unbanked customers into their system.

Read the rest at The Latino Post

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!