Clip’s first partner is American Express, which represents 30 percent of the total payment volume in Mexico, but only has 3 million of the roughly 30 million credit and debit cards in use in the country. Now, there are contracts with American Express, Banorte, Banamex and Bancomed, says Babatz. It’s that kind of traction that led to the company’s $8 million A round led by the Mexican venture capital firm Alta Ventures, with participation from Amex Ventures, Sierra Ventures, Endeavor Catalyst (the investment arm of the entrepreneurial focused support organization, Endeavor). Mexican investors in the round included Fondo de Fondos, Angel Ventures Mexico.

http://techcrunch.com/2015/12/07/american-express-backs-mexican-fintech-startup-clip-as-emerging-markets-warm-to-financial-startups/