Nubank’s current account in Mexico will also be 100% digital and will have daily income and immediate liquidity for the money available.
One of the most popular financial institutions in Brazil, Nubank has been expanding its business to other countries in Latin America. Thus, in 2019, fintech arrived in Mexico and made its credit card available in 2020. Thus, now roxinho provides a new functionality to Mexicans, it is Cuenta Nu.
Therefore, Nubank’s current account in Mexico will also be 100% digital and will have daily income and immediate liquidity for the money available. In addition, Nubank will also offer 24 hours a day and 7 days a week service with all the necessary support for opening an account.
In addition, the Cuenta Nu debit card will also be made available to Mexican customers. So, just like the credit card, the roxinho will have a physical and virtual version, which is designed to increase consumer security in their purchases in a virtual environment.
However, the debit function will be released gradually. Thus, at first only a few customers will have access to the novelty. However, the prediction is that soon, all users will be part of the new modality.
According to Nubank, fintech currently has more than 3 million customers in Mexico. Therefore, the expectation is that the number will grow even more from the disclosure of the novelty.
By the end of 2023, Nubank intends to launch its checking account in Colombia as well, where it already issues credit cards.
Largest card issuer in Mexico
According to Nubank, the digital bank is the largest card issuer in Mexico, where it has 2.7 million customers. In Colombia, where it has 314,000 customers, the bank received authorization from the local regulator to operate as a finance company.
Payroll from Nubank
Nubank customers were waiting for the payroll loan to be released in 2022. However, according to David Vélez, CEO of fintech, who attended an event held in partnership with JP Morgan, the release of the new roxinho credit modality was postponed and should only happen in the first half of 2023.
In this way, Vélez stated that the payroll made available by Nubank is in the technology testing and implementation phase. Thus, the idea is to reduce costs with the intermediation of operations in the model. In this way, fintech received funds from a committee of banks to accelerate operations in the last six months.
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