Visa Inc. has announced it has signed an agreement with Blue Label Mexico, a joint venture between Grupo Bimbo and Blue Label Telecoms Limited, a provider of prepaid airtime. Through this agreement, more retail locations across Mexico will be able to accept debit and credit card payments.
There are more than 700,000 small merchants across Mexico carrying Grupo Bimbo merchandise, which requires a large distribution network for the daily delivery of baked goods. This network, combined with the trust in the Bimbo brand, provides Grupo Bimbo, Visa and Blue Label with a unique opportunity to expand the acceptance of electronic payments to small merchants in Mexico, enabling the retailers to become more competitive by offering the latest payment processing technology.
From September 2013, a team focused on merchant activation began rolling out the installation of mobile payment terminals at merchants across Mexico. The new terminals allow small retailers to accept Visa and non-Visa card payments while also offering airtime top-up and bill payment services.
“Grupo Bimbo has long recognized that small merchants are not only the social center for many communities in Mexico, but also a key driver of Mexico’s economic growth”, said Hortensia Contreras, Grupo Bimbo’s Vice President of Strategic Services and Blue Label Mexico CEO. “Grupo Bimbo is proud to provide our merchant partners with the latest payment technologies, ensuring they can continue to offer consumers everyday conveniences, from selling fresh groceries to accepting payment cards, prepaid products and services such as wireless airtime top-up.”
“Our work with Grupo Bimbo and Blue Label is a great example of how Visa can partner with merchants to eliminate the inefficiencies of cash while bringing the convenience of electronic payments to more consumers,” said Elizabeth Buse, Global Executive, Solutions, Visa Inc. “In addition, increased use of payment cards can provide an important boost to the Mexican economy as shown in a recent study published by Moody’s Analytics earlier this year.”
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