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What will be the primary reason for Nubank customers using Oxxo stores for transactions by the end of 2025?
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Story
Nubank Partners with Oxxo to Offer Cash Services to 9 Million Customers at 22,000 Stores in Mexico Starting January 14, 2025
Jan 13, 2025, 06:39 PM
Nubank, the Brazilian digital bank, has signed an agreement with Oxxo, a convenience store chain, to expand its cash deposit and withdrawal network in Mexico. This partnership will allow over 9 million Nubank customers in Mexico to conduct banking transactions at more than 22,000 Oxxo stores across the country. Cash withdrawals using a Nubank card will be available starting January 14, 2025, with cash deposits to follow in subsequent months. According to Iván Canales, General Manager of Nu México, the agreement aims to enhance financial inclusion in underserved areas, reinforcing Nubank's commitment to making financial services more accessible in Mexico, where cash remains a significant part of daily transactions. The expansion leverages the existing infrastructure of Arcus by Mastercard, and Eduardo Velasco Garza, Director of Services at Oxxo, emphasized the chain's commitment to promoting financial inclusion throughout the country.
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