Mexico has emerged as a key battleground for financial services startups given that less than 50% of the population has a bank account. A growing number of the fintech firms are seeking banking licenses to offer a full menu of options.
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MercadoLibre kicks off talks to apply for Mexico banking license
“The opportunity is phenomenal. We see in Mexico what happened in Brazil over the last decade, where there was a huge increase in access to banking, electronic payments and credit,” Gimenez said in an interview. “We want to be protagonists on this, and this will allow us to launch more products.”
