Source: PR Newswire.
Original press release available here.
MEXICO CITY, June 3 – Compartamos Banco, S.A. announced today that it has signed a commercial alliance with OXXO, whereby customers of Compartamos Banco may choose to make their loan payments at any OXXO retail location starting today.
The commercial alliance between the two companies is expected to improve customer service, as it facilitates payments for loan customers. Both companies agree that customers will benefit from the added convenience of additional payments locations.
This alliance was made possible by a 4-month pilot program that was carried out in parts of the city of Veracruz. Currently customers of Compartamos may make payments at any of the OXXO locations throughout Mexico
Compartamos Banco, S.A., a Mexican bank specialized in microfinance, is the largest lender to microbusiness owners in Latin America. Established in 1990 and headquartered in Mexico City, Compartamos provides small loans to low-income Mexican individuals and business owners, such as craft manufacturers, food vendors and other small businesses. With coverage in over 90% of Mexico, Compartamos works with local and international lenders to secure financing to these market segments, which are currently underserved.
Compartamos Banco shares began trading on the Mexican Stock Exchange on April 25, 2007 under the ticker symbol “COMPART”
FEMSA Comercio (OXXO) is the largest and fastest-growing retail network in Latin America with 5,563 stores open in Mexico at the end of 2007. OXXO is a subsidiary of FEMSA Comercio, one of the main business units of FEMSA, the leading beverage company in Latin America, which has operations in nine countries: Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Argentina and Brazil.
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