The company hopes to develop a range of highly innovative financial services that combine intuitive UX and a strong value proposition, and which integrate seamlessly with users’ daily life, says Guerra, head of Rappi Financial Mexico, in an exclusive interview with Iupana. “Fast, useful, safe financial services, without surprise fees and with a touch of Rappi magic,” is how he characterizes the new suite of products to be offered. Although specifics of the products being planned are still under wraps, Guerra says that they will be based on principals of simplicity, clarity, transparency, and generosity. “We’re looking after the financial health of our users. For example, if we offer a credit card, we wouldn’t charge the typical ‘surprise fees’. Given that we have lower operational costs than others in the market, we could be generous both on the cash back as well as not charging commissions. That’s the spirit with which we’re formulating and designing our products.” RappiPay will continue operating as the new entity is formed, although probably the two will blend together, said Guerra. It’s likely that the Rappi app will have new financial functionality added to it as a result of the Banorte alliance. Mexican financial regulations have scope for different financial services under different legal structures. Guerra says that the joint venture won’t lean on Banorte’s regulated status when they go into the market – and that it’s possible the company will apply for a financial license of its own.

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