Global payments and technology company MasterCard has launched its first business model in Mexico to facilitate entry of new players into the financial system for the SME sector.
The new business model will allow regulated micro financial entities to access technology and investment models to enable them as card issuers and channels for terminal installations.
The model will also enable microfinance institutions to integrate new financial services at affordable cost, which currently is not possible due to high expenses.
The 8.1 million microfinance institutions in Mexico are expected to benefit from these new tools, according to the National Survey of Micro-business (ENAMIN) -2008.
Te Creemos is the first organization to implement this business model and is considering delivering new financial services to more than 250,000 customers in the next three years.
MasterCard runs the fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in over 210 nations and territories.