Banco Bilbao Vizcaya Argentaria : “BBVA Open Talent will boost our continued growth”

How does the platform work?

Our custom-built mobile wallet and digital lending platform enables customers to receive access to credit in a much simpler way, allowing them to pay bills, carry out peer-to-peer transfers, make direct deposits to bank accounts, and more, all through their mobile phones.

'Since winning the award just last year, we have attracted a lot of attention from some very big global players'

ePesos also integrates smoothly with payroll software, enabling customers to advance up to 30 per cent of their next paycheck. The advance is automatically deducted from their following paycheck, including a 2.5 per cent commission, which is a much lower cost than other options.This gives individuals more flexibility than existing payroll loan systems, which often have multi-year repayment terms.

What's next for ePesos?

We are currently running a pilot integration with a local rideshare company, helping drivers borrow to deal with emergency costs, such as vehicle repairs that would keep them off the road and prevent them earning if they couldn't afford to pay for them. This could potentially be an area for huge amounts of growth.

The gig economy has always been a major part of life in Mexico - there are some areas where between 60 and 70 per cent of the working economy is informal - and consumer dependency on app-enabled 'gig economy' jobs will only increase.

Since winning the BBVA Open Talent Financial Inclusion award just last year, we have attracted a lot of attention from some very big global players, which will boost our continued growth and support our upcoming projects.