Advances in Mexico
The Mexican government took two measures with the clear
intention that users get on the financial technology train:
- In March 2018, the Senate approved the
Law to regulate financial technology institutions (DOF 03-09-2018), called
the “Fintech Law”.
- In October 2019, Banco de México
launched CoDi, a payment system that works through smartphones through a
QR code.
These two changes opened the doors for entrepreneurship and
innovation in the financial technology field in Mexico.
With this background and since the Mexican peso is one of the
ten strongest currencies in the world, Mexican fintech is a large
market that has attracted the attention of foreign investors. "Why Mexican fintech is
one of the sectors to be under scrutiny in 2020," the NASDAQ blog titled
an article at the end of 2019, signed by Craig Dempsey, the CEO and co-founder
of Biz Latin Hub .
Currently, financial technology encompasses these main
areas:
- E-commerce
- Banking
- Collective financing ( crowdfunding )
- Virtual currencies (like bitcoin)
- Stocks and markets, and
- Insurance and risk management
tech in
your business
All this, what repercussions does it have for your business? How
can you take advantage of it? The subject goes a long way, so we will now
focus on digital banking, as it is the most recent.
Traditional banks offer you the well-known electronic transfers
but sometimes they have an additional cost for the user.
Instead, new startups of Fintech allow
you to open a digital account for your business from the convenience of
your phone, which is useful especially to bring order to finance, it is
not healthy to have money churning business with personal money .
Oyster, thinking about technological solutions, collaborated in
a series of basic services focused on entrepreneurs, microentrepreneurs and
freelancers, such as:
1.
Register in a financial platform from your phone, without having
to go to the bank or do cumbersome procedures.
2.
An app with which you can make
transactions and manage the money of your business.
3.
The app also helps you organize
your business finances, schedule payments, set savings goals, assign budgets
and receive smart alerts on the topics that matter most to you.
4.
Digital cards for you or someone on your team to make
secure electronic transfers, without wasting time at banks.
5.
A physical card valid all over the world, for what can be
offered.
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