BBVA Mexico, OXXO Roll Out Contactless Payments at 22,000 POS

BBVA Mexico and OXXO are implementing contactless payments in 22,000 points of sale, with over 45,000 NFC devices installed, allowing consumers to make quick transactions using mobile devices, wearables, or contactless-enabled debit and credit cards.

According to BBVA, OXXO customers can tap their devices or cards near the terminal to complete transactions up to MX$1,000 (US$55) without needing to insert their or enter a PIN. Digital wallets have no transaction limit.

Hugo Nájera Alva, BBVA Mexico’s Director of Customer Solutions,emphasized that this partnership signifies a significant advancement in expanding contactless payments within Mexico's financial ecosystem. "More than 95% of the bank's point-of-sale terminals are already equipped to accept this type of payment, and it is expected that by the first half of 2024 all POS terminals will have this functionality," he said.

Currently, 70% of BBVA Mexico's debit and credit cards support contactless payments, with plans to equip all cards with this technology by the end of 2025. BBVA has previously introduced various digital tools in Mexico, such as Mi Día a Día for transaction management and BBVA Plan for automated savings, which have significantly boosted savings rates among users, as reported by MBN.