Several fintech corporations have just lately made strides within the Mexican banking sector. Among them are Mercado Pago and Bank in Mexico, in addition to a card firm in Argentina. These companies are in search of to ascertain a presence within the nation’s monetary trade and compete for a share of the market.
One of the benefits for these corporations is gaining banking licenses, which permit them to supply a wider vary of services and products. This elevated competitors is about to profit customers by offering extra alternative and doubtlessly higher pricing choices.
In line with this pattern, Mercado Pago is making strikes to change into a full-fledged financial institution in Mexico. However, the corporate faces challenges as regulators push for stricter compliance measures. Additionally, political figures like Milei and Caputo are additionally getting into the monetary sector, doubtlessly inflicting distraction and disruption out there.