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Standing as the number one business priority for Nu in 2024, Mexico has proven to be a savvy choice in the company's international expansion strategy: one year after the launch, the company has already surpassed 8m customers in the country and $3.3b in deposits.
“Our biggest competitor (in Mexico) is cash. Over 40% of payments in Mexico are still made in cash; half of our customers have never had a credit card. So, there is strong work in financial education underway, so they can start using the products responsibly.”
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