Fintech Latest News North America South America

Wirecard expands presence in Mexico

  • Wirecard, in collaboration with Banca Afirme, is equipping television channel Canal 22 with innovative payout product Afirme E-Fectiva

  • Afirme E-Fectiva supports Canal 22 for e-commerce payments, POS spend, and ATM withdrawals

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to equip television station Canal 22 with employee payout products for e-commerce payments, Point-of-Sales (POS) spend, and ATM cash withdrawals.

Wirecard and Banca Afirme are long standing partners working together to implement and market payout products, branded as Afirme E-Fectiva, in Mexico. The cooperation comes at a time when the Mexican government is strongly supporting cashless initiatives through multiple Ministry-run programs.

Operated by the Ministry of Culture, Canal 22 focuses its programming on cultural and educational themes, airing across Mexico and the United States. As part of the cooperation, Wirecard and Banca Afirme will equip Canal 22 with contactless Mastercard cards. Cardholders can use cards to pay for their travel and other work-related expenses in an entirely cashless way, and without relying on personal bank accounts.

Afirme E-Fectiva cards support e-commerce and POS payments, along with ATM withdrawals. Canal 22 benefits from key features such as streamlined administration of disbursements, bulk loading of payout cards, and an overall reduction of overhead costs, through a robust administration tool called Afirme Payout. Through this cooperation, and in alliance with Banca Afirme, Wirecard is expanding its presence in Mexico for corporate and public sector clients.

“Thanks to Banca Afirme and Wirecard we are streamlining internal processes and implementing spending policies, while giving employees more flexibility when it comes to work-related expense management,” commented a Canal 22 Administration representative. “We are happy to have knowledgeable and experienced partners like Banca Afirme and Wirecard by our side to launch our first-ever payout card project, and we look forward to expanding our cooperation.”

“We are excited to collaborate with Canal 22, one of Mexico’s strongest public television stations,” added Florian Ungethuem, Managing Director North America at Wirecard. “Through our cooperation with Canal 22 we are not only strengthening our presence in Mexico, but also supporting national initiatives such as the drive towards a cashless society and financial inclusion.”

Cardholders do not need a bank account to use Afirme E-Fectiva cards, making them an appropriate solution for unbanked people. As Mexico continues on a path towards greater financial inclusion, a significant part of the population remains unbanked. Afirme E-Fectiva cards offer many benefits to corporate and governmental entities, and cardholders alike.

Author

  • Editorial Director of the The Fintech Times

Related posts

Cost transparency is worth it

Manisha Patel

Nets and Vipps join Forces to Simplify Payments in Norway

Jason Williams

Moneyfarm Aquire Vaamo in Bid to Accelerate Growth, According to GlobalData

Manisha Patel