Fondeadora, the financial service provider in Mexico, has reaffirmed its commitment to delivering secure digital payment services in the region as it partners with MeaWallet, the digital payments enabler specialising in card tokenisation.
MeaWallet’s expertise in card tokenisation has been instrumental in powering Fondeadora offerings, including MeaWallet’s SDK Push Provisioning to enable Apple Pay, Google Pay, and integration with Mastercard Digital Enablement Service (MDES) through issuer processor Paymentology.
In Mexico, there is a growing preference for mobile and online banking driven by increasingly digital lifestyles. Despite a substantial unbanked population, 94 per cent of Mexican consumers utilise mobile banking apps or online banking services. Moreover, alternative mobile payment services, independent of traditional bank accounts are popular with 96 per cent of users embracing them. This highlights the clear demand for Fondeadora’s digital financial services.
Tokenisation and digital enablement lie at the heart of the MeaWallet and Fondeadora partnership. By replacing sensitive card information with unique digital identifiers, payment tokenisation ensures secure transactions without exposing sensitive data.
Rodrigo Sanchez, chief operating officer, at Fondeadora commented: “There is a clear appetite for new digital payment services, yet there are still 65 million people in Mexico who are excluded by conventional banking institutions.
“Clearly, the current system is broken, and we are on a mission to fix it and give people control over their money. But we cannot do this alone. Together with our integral technology partners, like MeaWallet, we are helping to drive Mexico’s era of digital payments, aiming to empower individuals with secure, convenient, and inclusive financial solutions.”
Driving Mexican digital payments
In addition, the integration of Mastercard Digital Enablement Service (MDES) and MeaWallet’s SDK Push provisioning further enhances the efficiency and accessibility of digital payment solutions. Push provisioning streamlines the card issuance process to digital wallets. It also offers a seamless experience for consumers while facilitating customer acquisition for wallet providers.
Ignacio Gironella, global sales director MeaWallet added: “We are delighted to reveal that we are supporting Fondeadora with our tokenisation services, which are our specialty. Fondeadora continues to go from
strength-to-strength in Mexico with many industry firsts. Our collaboration highlights a shared commitment to enabling more people to participate in the financial system in a safe way, and we look forward to continuing to support Fondeadora in leading the charge on this front.”
