Customers in Mexico will be able to shop for millions of products on Amazon.com.mx and pay for them over time in bi-weekly installments with Kueski Pay.
Offering Kueski Pay at checkout can help attract new customers and drive higher sales; merchant partners have expressed an increase of up to 70% growth in conversion rates and 40% higher purchase frequency with this payment method.
MEXICO CITY, MEXICO / ACCESSWIRE / January 29, 2024 / Kueski, the leading buy now, pay later (BNPL) provider in Latin America, has taken a major step forward in expanding financial access for everyday Mexicans and will now be available as a payment option on Amazon.com.mx. As a result, shopping will be more convenient and customers will be able to shop for the products they need, when they need them, with the option to pay over time in bi-weekly installments. Kueski Pay is now available to select Amazon customers and will be available to all eligible customers in Mexico over the coming months.
Biweekly payments without a credit card
Amazon customers who choose to use Kueski Pay for their purchase will be able to select plans of up to 12 bi-weekly installments. A key feature of this product is that it does not require a credit card, which is particularly beneficial given that more than 60% of adults in Mexico are still unbanked and over 70% of the population does not have a credit card. This agreement between Kueski and Amazon allows customers to choose how they want to pay, including via a linked bank account, debit card or cash on affiliate networks. Additionally, any Mexican consumer over 18 years of age can use this payment option.
"Customers are increasingly looking for flexible payment options to help them meet their purchasing needs," said Karen Pepper, Head of Digital Payments for Amazon Mexico. "Paying in bi-weekly installments with Kueski Pay is Amazon's latest initiative to provide customers in Mexico with access to affordable payment methods, and expanding Amazon's secure financing offers with a simple fee structure demonstrating our commitment that Amazon is for everyone."
Kueski is among the leading online consumer credit and BNPL platforms in Latin America, having granted nearly 15 million loans to individuals and entrepreneurs throughout Mexico. The company estimates that one in four of the largest e-commerce merchants in the country offer Kueski Pay as a payment solution, while more than 60% of its customers declare that even though they have a credit card, they still prefer to use Kueski Pay as a payment option due to its flexibility.
"This agreement enables Amazon customers to enjoy, for the first time in Mexico, a buy now, pay later option at checkout," said Andrew Seiz, SVP of Finance at Kueski. "This is a significant step forward for Kueski as a leader in flexible payment solutions. Making BNPL available on Amazon Mexico gives millions more people access to the vast Amazon marketplace wherever they are in the country. We are thrilled to help pave the way forward for BNPL and increase access to financial services for all Mexicans."
To learn more about Kueski Pay, visit: www.amazon.com.mx/pagoenquincenas
About Kueski
Kueski is the leading buy now, pay later (BNPL) and online consumer credit platform in Latin America, known for its innovative financial services. Its flagship product, Kueski Pay, allows customers to make purchases and pay later, both online and in physical stores. Additionally, the company offers Kueski Cash, a personal loan product. Applying artificial intelligence, Kueski enhances access to financial services at scale. To date, the company has issued nearly 15 million loans across Mexico, benefiting individuals and entrepreneurs. Notably, a quarter of Mexico's top e-commerce merchants now offer Kueski Pay as a payment option. Learn more at Kueski's website: https://www.kueskipay.com/
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SOURCE: Kueski