Recognized as a top 5 ethical company in Mexico, Kueski continues to transform access to credit for millions
GUADALAJARA, MEXICO / ACCESSWIRE / October 30, 2024 / Kueski, the leading buy now, pay later (BNPL) and consumer lender in Latin America, has reached a significant milestone with 20 million loans distributed to Mexican consumers. This marks 100% growth in loans disbursed in just 18 months, further showcasing Kueski's momentum as it moves forward in its mission to improve the financial lives of Mexicans.
Since its inception in 2012, Kueski has become a market leader in Mexico for both BNPL and online consumer lending, now issuing an average of one loan every two seconds. The company utilizes innovative AI and machine learning-powered credit decisioning models, enabling faster loan approvals and easier access to essential financial services for its customers.
"Reaching 20 million loans highlights the strong demand for simple, transparent, and trustworthy alternative payment and lending options in Mexico," said Andrew Seiz, SVP of Finance at Kueski. "As Mexico's favorite way to pay, we are committed to innovating for consumers and merchants alike. This achievement marks an important step in fostering financial inclusion and supporting economic growth as we connect consumers to the formal economy and help build a stronger financial future for Mexico."
More than 50% of Mexico remains unbanked and about 70% lack access to a credit card, meaning millions of consumers are still operating on a cash-based model. Kueski is solving this through its two products, Kueski Pay, a BNPL product, and Kueski Personal Loans for online consumer lending. More than 60% of Kueski customers share that they have been able to build credit history and access more financial products by leveraging Kueski's solutions.
This year, Kueski announced that it has teamed up with Amazon Mexico to become its first BNPL provider in the country. The company has also grown its roster of thousands of merchant partners to include Estée Lauder, MAC, and Clinique, to name a few. Additionally, Kueski launched the in-store version of Kueski Pay which allows customers to complete transactions in physical stores without an internet connection. Kueski was recognized on CNBC's prestigious World's Top FinTech Companies list and was also named one of the five most ethical companies in Mexico by AMITAI. Kueski now has the highest penetration rate of nearly 30%, when compared with other providers, within the top 150 e-commerce merchants in Mexico.
About Kueski
Kueski is the leading buy now, pay later (BNPL) and online consumer credit platform in Latin America, known for its innovative financial services. Its flagship product, Kueski Pay, allows customers to make purchases and pay later, both online and in physical stores. Additionally, the company offers Kueski Cash, a personal loan product. Applying artificial intelligence, Kueski enhances access to financial services at scale. To date, the company has issued more than 20 million loans across Mexico, benefiting individuals and entrepreneurs. Notably, 30% of Mexico's top e-commerce merchants now offer Kueski Pay as a payment option. Learn more at Kueski's website: https://www.kueskipay.com/
Press contacts:
Karen Herrera - karen.herrera@kueski.com
Holland Eichorn - kueski@calibercorporate.com
SOURCE: Kueski
View the original press release on accesswire.com
