Dafne Cisneros Joins Clara as Country Marketing Lead for Mexico
Weekly news up to Wednesday, 14th of May 2025.
👀 NEWS HIGHLIGHT
Wise, the global technology company building the best way to move and manage the worldʼs money, has announced the appointment of former Western Union executive Ricardo Amaral as its new Head of Banking for Latin America and Country Manager for Brazil.
This strategic hire is a key component of Wise's ambitious expansion in the Americas. It follows Wise's recent launch in the Mexican market and approval for direct connection to Brazil's Instant Payment System SPI - infrastructure that enables Pix).
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Banco Neon enters ‘third phase’ and wants to double in size in 2 years.
⭐️ MercadoLibre and Nubank Get More Aggressive in LatAm Digital Banking Race.
⭐️ Nubank innovates by allowing card limit to become account balance.
⭐️ Dafne Cisneros has joined Clara as Country Marketing Lead for Mexico.
BRAZIL
Pix scam: R$5 billion in losses surprise Brazilian authorities. A study by ACI Worldwide indicates that losses from Pix-related fraud in Brazil could reach R$11 billion by 2028. This is a concerning figure, as it positions the country as one of the main targets for instant payment scams.
Jeeves launches the Embedded Finance solution to optimise travel management in Brazil. Following this announcement, companies that process payments for hotel and airline bookings will be allowed to take advantage of the benefits offered by VCN cards.
Nubank launches NFC Pix for Android mobile phones. Users must link their Pix key to the Google Pay wallet and perform an initial transaction by inserting the card and entering the PIN; subsequent payments can be made by proximity. This enhancement aims to streamline in-person transactions, offering a faster and more convenient payment experience.
PANAMA
Panama's Mercantil Banco taps Galileo for digital banking platform, to revamp its digital banking infrastructure with the Cyberbank Digital platform. These features will enable Mercantil to offer personalised, mobile-ready services that improve customer satisfaction and streamline operations.
MEXICO
Mexico experiences accelerated adoption of digital payments. The use of digital wallets has quadrupled in the past decade, increasing from 6% of e-commerce transaction value in 2014 to 28% in 2024. This trend is expected to continue, with digital wallets projected to account for 37% of online transactions by 2030.
Revolut expects to start operations as a bank in Mexico in the second half of 2025. The company received approval from Mexico's National Banking and Securities Commission, allowing it to establish a multiple banking institution, Revolut Bank, with a capital of 1.43 billion pesos. The bank's headquarters will be in Mexico City.