- Customers in Mexico will be able to buy millions of products on Amazon and pay for them later, in bi-weekly installments, using Kueski Pay.
- This payment method is currently available to select Amazon customers, with all eligible customers coming soon.
MEXICO CITY, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Today, Amazon announced the launch of Pago en Quincenas with Kueski Pay, a payment method that allows users to defer their purchases into biweekly payments, making shopping on Amazon increasingly affordable. For now, this payment method is available to select Amazon customers, and will become available to all eligible customers in the coming months.
In Mexico, less than one third of the adult population has a credit card, and most transactions are still made in cash, as more than 60% of adults are still unbanked. Therefore, it is essential to expand the financing of purchases beyond credit card payments or even for debit card users, who already have 155 million cards, according to Banxico.
Customers who choose to use Pago en Quincenas with Kueski Pay will be able to choose plans of up to 4 interest-free biweekly payments as part of an introductory offer, or up to 12 biweekly payments. It is not mandatory to have a credit card to access this payment method; customers can choose how they wish to pay either through a linked bank account, debit card or cash at affiliated networks. In addition, anyone over the age of 18 may request this payment option.
"Customers are increasingly looking for flexible payment options to help them meet their shopping needs," said Karen Pepper, Digital Payments leader for Amazon Mexico. "Pago en Quincenas with Kueski Pay is Amazon's latest initiative to provide customers in Mexico with access to affordable payment methods, and expand Amazon's safe and secure financing offerings with a simple fee structure, demonstrating our commitment that Amazon is for everyone.
When paying for the first time with Kueski Pay, a simple one-time application must be completed during the Amazon checkout process. After this registration and approval of their credit, customers will be able to place their order and pay afterwards. Repeat customers will see Kueski Pay, which handles the loan payment securely, available at the end of their purchases and will no longer need to provide additional information.
Kueski Pay is one of the most important online consumer credit and buy now, pay later platforms in Mexico, with almost 15 million loans granted to date. The company estimates that 1 in 4 of the country's most relevant merchants use this form of payment, while more than 60% of its customers say they have a credit card and still prefer to use this payment option for its flexibility.
"Our agreement with Amazon demonstrates the need Mexicans have for more flexible, secure and inclusive payment alternatives. Kueski Pay enables merchants to deliver more innovative shopping experiences and help Mexican consumers live their personal finances with more excitement," said Lisset May, senior vice president of sales for Kueski.
To learn more about Pago en Quincenas with Kueski Pay, visit www.amazon.com.mx/pagoenquincenas
About Kueski
Kueski is one of the most important online consumer credit and buy now, pay later (BNPL) platforms in Latin America, offering financial services to consumers and connecting the Mexican economy with an ecosystem of innovative products: Kueski Pay, the buy now, pay later product available in physical stores and online, and Kueski Cash, its personal loan product. Founded in 2012 with the mission to simplify the lives of Mexicans, Kueski harnesses technologies, such as Artificial Intelligence and Big Data, to expand access to traditional financial products and services.
For more information, visit https://www.kueskipay.com/
