The company FEMSA has decided to apply for a banking license for its fintech, Spin by Oxxo, with the aim of strengthening its offering of digital financial services and diversifying its business, according to José Antonio Fernández Carbajal, general director and president of the Board of Directors of the Monterrey-based company.
As part of a strategy to create a complete digital ecosystem, FEMSA will focus on providing financial services through Spin by Oxxo. Although initially, the offering of credit services is not planned, the director mentioned the possibility of establishing strategic partnerships in this area.
In the financial report for the fourth quarter of 2024 recently presented, the notable growth of Spin by Oxxo is highlighted. During that period, the platform added 600 thousand new users, reaching a total of 13.1 million, representing a 32.8% increase compared to the same period of the previous year.
Additionally, it was reported that 65.5% of the acquired users remained active, which signifies a growth of 24.9%, reaching a total of 8.6 million active users. This increase reflects the positive evolution of Spin by Oxxo in the digital financial services market.
