This solution is designed to make shopping on Amazon more affordable. For now, this payment method is available to select Amazon customers and will become available to all eligible customers in the coming months.
Kueski Pay is an important online consumer credit and BNPL platform in Mexico, with almost 15 million loans granted to date. The company estimates that one in four of the country's most relevant merchants uses this payment method. Still, more than 60% of its customers claim to have credit cards and prefer this payment option because of its flexibility.
On the other side, the official announcement shows that in Mexico, less than one-third of the adult population owns a credit card. Thus, the majority of transactions are still done in cash. In addition, over 60% of adults are unbanked, and this makes it crucial to expand financing options beyond credit card payments. Moreover, the official press release states that 155 million debit cards are already in use. On this background, customers are increasingly looking for flexible payment options to help them meet their shopping needs.
Therefore, customers who opt for Pago en Quincenas with Kueski Pay can choose plans of up to four interest-free biweekly payments as a part of an introductory offer, or up to 12 biweekly payments. It is not mandatory to have a credit card to access this payment method. Customers can choose how they wish to pay, whether via a linked bank account, debit card, or cash at affiliated networks. Anyone over the age of 18 can request this payment option.
Commenting on this, Amazon Mexico stated that Pago en Quincenas is designed to provide customers in Mexico with access to affordable payment methods and expand Amazon's safe and secure financing offerings with a simple fee structure. This should demonstrate that ‘Amazon is for everyone.’
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