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Revolutionizing Cashless Payments in Mexico: The Case of Mimoni/Lumbrera

In: The Book of Payments

Author

Listed:
  • Gabriel Manjarrez

    (Mimoni/Lumbrera)

Abstract

Mexico is famous for many things, including its Mayan pyramids, gourmet food, chocolate, traditional tequila, impressive reefs and coral formations, to name but a few. This chapter reveals an additional trend among the Mexican population. Within a climate of prevailing mistrusts, technology aversion and misinformation, the majority of the Mexican market is not formally banked. The last 15 years have seen almost no growth in per-capita bank consumer credit. Lack of formal credit scores and uncertain payment behavior make credit-card offerings risky. Within this context, Mimoni, a consumer lending company, offers cash-free solutions through direct personal interaction.

Suggested Citation

  • Gabriel Manjarrez, 2016. "Revolutionizing Cashless Payments in Mexico: The Case of Mimoni/Lumbrera," Palgrave Macmillan Books, in: Bernardo Batiz-Lazo & Leonidas Efthymiou (ed.), The Book of Payments, chapter 30, pages 359-366, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-60231-2_30
    DOI: 10.1057/978-1-137-60231-2_30
    as

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