Oxio plans to expand Mexico’s prepaid mobile market by targeting lower-income users with fintech-driven service bundles, to compete against incumbents like Walmart-backed Bait.
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Oxio Aims to Use Fintech to Build Mexican Prepaid Market
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Oxio is looking to target the lower-income, prepaid market segment and compete with Bait, the mobile arm of Wal-Mart de Mexico SAB, the local unit of the US retailer. Oxio will use telecom data to create “sticky” service bundles, such as connecting users with financial products like loans from fintech companies, said Girard. “We think we can win by doing something different in Mexico,” he said. Girard declined to say which fintech or retail companies he’s looking to partner with or in what stage the negotiations are. But he did highlight Brazil’s Nubank and Plata in Mexico as successful fintechs.
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