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Contxto – Nowadays, companies that don’t admit card transactions are inherently placed at a disadvantage. Not only do many shoppers prefer debit or credit over cash, but shopping online is thriving more than ever.
“All of us at Billpocket are super excited to have Axon as investors,” said Alejandro Guízar, founder and CEO of Billpocket. “We are sure that their resources, strategy, and understanding of both the industry and the region will be essential for our growth going forward.”
Determined to accelerate e-payment acceptance among SMEs, the new capital will help consolidate Billpocket’s presence and accelerate growth. For instance, funds will go towards enlarging its existing portfolio with products assisting affiliates to meet their financial needs.
According to a recent press release, the investment is part of a larger investment round with strategic partners. For Axon Partners as the lead investor, this deal symbolizes its commitment to supporting Latin American fintechs.
“We are thrilled to partner with Billpocket’s team,” said Francisco Velázquez de Cuéllar, President of Axon Partners Group. “They have shown excellence in execution with amazing efficiency when using the resources they had.”
Moving forward, Billpocket expects to exceed its yearly triple-digit growth by enlarging its national coverage.
Mobile point of sale
In essence, Billpocket is a financial service platform allowing Mexican merchants to accept card payments via portable, wireless point of sale terminals. Many hail the solution as an effective means of promoting financial inclusion in the world’s largest Spanish-speaking country.
All in all, Billpocket aspires to become the “go-to” resource for SMEs intending to leverage their sales channels. With that said, Billpocket’s solution is easily connected to a smartphone or tablet. This way, partners can accept credit or debit card payments, growing sales in the process.
Not only is Billpocket fast and easy but also guarantees fees for transactions at 3.5 percent. Moreover, partners receive deposits for sales the next day, as well as interest-free installments to offer during sales promotions.
According to Guízar, only 14 percent of payments in Mexico are made through debit or credit cards. For this reason, Billpocket aids companies in retaining their competitiveness, not to mention increasing sales and efficiency. Even better, the app doesn’t use data due to its partnership with Telcel.