U.S. retail giant Walmart wants to get on top of Mexico's fintech market with its Cashi digital wallet, yet analysts say its drive is strewn with potential pitfalls due to the proliferation of risky clients in the largely untapped market.
Executives at the Walmart unit expect the deal to "unlock Cashi's potential," starting with transfers, withdrawals and remittances while keeping open the option of loans and other financial services in the future.
The Bentonville, Arkansas-based chain expects these operations to contribute more to profitability over the next five years than its core brick-and-mortar retail business. "We have 5 million customers visiting our stores every day and the vast majority don't have access to a financial product, never mind a formal credit product," Herrera said.
"The credit card would be an important change in strategy at Walmart," he said. "It would enter a riskier segment.", Latin America's largest fintech, was 12.2% in February, above the 11.4% average for microfinancing firms, according to official data cited by Brazilian bank Bradesco.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Elizabeth Holmes spent 6 months in RV sleeping in Walmart parking lotsElizabeth Holmes and her partner spent 6 months on the road in an RV sleeping in Walmart parking lots while working on her legal defense
Consulte Mais informação »
Formerly homeless woman in California wins $5M lottery on ticket purchased at Walmart: 'Just random'A lottery winner from California briefly recalls how she was homeless in 2017 and is now in a different place with her 'random' $5 million scratch-off win.
Consulte Mais informação »
Cullman Police increase charges for former Walmart employee accused of producing child pornographyCullman Police are now charging 25-year-old Ethan Richardson with 53 different counts, all related to child pornography.
Consulte Mais informação »
Walmart+'s New Promo Will Make You Rethink Your Prime Membership (and Save You $50)Walmart+ has always been a great way to save on essentials — and it just got even better with this $50-off deal. RSRecommends
Consulte Mais informação »
Industry and city representatives head to Mexico for second annual 'Houston Week'Houston representatives will be heading to Mexico Monday for the second annual 'Houston...
Consulte Mais informação »