Boosting Mexico’s Financial Inclusion

Q: How did you come up with the idea to create the Clip card reader?
A: The idea of Clip comes from a very simple principle: providing access to companies that want to accept on-site debit or credit-card payments. Clip was created for any SME and any business that does not receive payments with debit or credit cards. We have retailers, restaurants, services providers, wholesalers and individuals. Clip is a microcosm of the Mexican economy.
Q: How is Clip contributing to normalizing the large number of informal businesses that exist in Mexico?
A: In Mexico, there are 140 million debit cards and 30 million credit cards. However, there are not enough places to use them and that is why people need to withdraw money from ATMs. For this reason, it can be said that Clip is the missing piece in financial inclusion. Clip is “terminalizing” the country. Today, Clip is the fourth-largest acquirer in terms of number of merchants in Mexico.
Q: What are your expectations for Clip?
A: We hope Clip becomes a successful story of technology in Mexico. Our vision for the company is to become the operating system of Mexican commerce.