Kueski launches in-store Kueski Pay for BNPL transactions

Expected to be available to all consumers by the end of the second quarter of 2024, this product will enable customers to conduct transactions through the Kueski mobile app within physical stores, even without an internet connection.

This initiative aims to address challenges faced by consumers in Mexico, where a significant portion lack access to traditional banking services and reliable internet connectivity, particularly during in-person shopping experiences. Statistics from the Bank of Mexico indicate that approximately 80% of retail transactions in the country are still conducted in cash. By introducing this in-store payment option, Kueski seeks to bridge the gap between millions of consumers and merchants.

Representatives of Kueski highlighted the potential impact of enabling instant mobile payments regardless of internet connectivity, emphasizing the significance of this advancement for modern Mexican consumers. They noted that Kueski's extensive merchant network, coupled with the simplification of the payment process, can drive increased customer engagement and sales for partner merchants.

This innovation aligns with Kueski's overarching mission to enhance financial inclusion in Mexico and responds to growing consumer demand for convenient payment solutions. Nearly 70% of Kueski customers have expressed interest in utilizing this payment option in physical retail environments.

Earlier this year, Kueski expanded its reach by becoming available on Amazon Mexico and securing partnerships with renowned global brands, alongside small and medium-sized businesses. The company has garnered momentum as a leading BNPL and consumer lending platform, having facilitated nearly 16 million loans to date.

According to a report by Morgan Stanley, Kueski Pay stands out as the preferred BNPL partner for merchants in Latin America, with significant penetration among the top ecommerce players in Mexico. Presently, approximately one in four of Mexico's leading ecommerce merchants offer Kueski's BNPL service.