Grupo Coppel, Mexico’s largest non-food retailer and the sixth largest banking network in the country, announced the launch of Coppel Access, a multifunctional financial mobile application to expand its financial services to the US.
“The Coppel Access mobile wallet app was designed with the Mexican community in mind and allows all consumers in the US to easily open and manage an account, insured by the Federal Deposit Insurance Corporation (FDIC), using a Mexican or US ID. Once opened, consumers can use the digital or physical debit card in the mobile wallet to open the possibilities of shopping online and on digital platforms,” says Coppel. The Coppel Access mobile wallet can also be used to make transfers between friends and family in the US, according to the company.
In addition to online shopping and transfers within the US, Coppel Access allows users to send money to Mexico directly from their phone, saving them time and money. "By offering FDIC-insured accounts for sending international remittances, the Coppel Access app continues Grupo Coppel's 80-year-old mission of improving the lives of its customers," said Adrian Jaimes, CEO, Appriza Pay, the US-based affiliate of Grupo Coppel.
In Mexico, users can receive remittances at BanCoppel’s over 1,250 branches or have them deposited directly into their BanCoppel account. "For a decade, Mexicans living in the US have relied on Coppel to pay their remittances. Today, they can rely on Coppel for all their financial needs in the US," said Carlos López Moctezuma, Director of Financial Services, Grupo Coppel.
As digital payments become the norm, the unbanked and underbanked community can leverage Coppel Access for modern money management tools that provide time savings, ease, convenience, safety and control, says Coppel.
The Technological Enabler
To enable the launch of Coppel Access, the retail giant chose Alviere, the leading embedded finance platform provider. "The partnership with Alviere and the team's breadth of experience and drive in the development and deployment of Coppel Access proved fundamentally critical and extremely valuable in successfully bringing Coppel Access to market so quickly," says Jaimes.
Alviere ensures compliance, robust reliability, flexibility and long-term stability for its clients, says the company. "Coppel Access is a prime example of how leading brands can bring financial services to their customers, becoming more central in their lives, and filling a need for the community," says Yuval Brisker, Co-founder and CEO, Alviere.