RedCloud Technologies, the UK-headquartered global technology company has announced the extension of its local open commerce platform to Mexico to economically empower merchants of any size by enabling them to offer digital commerce to their customers through a single connected app.
RedCloud’s platform has already helped over 40,000 registered merchants to digitally serve over 1.2 million customers. The company has one of the world’s largest payment networks, allowing global brands to deliver a localized experience to the most vital parts of their retail chain. Stores and sellers are able to trade instantly with recognized brands, fast tracking them to the digital economy.
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With the Red101 connected app, merchants provide commerce instantly through any connected device, selling electronic recharges of main brands like AT&T, Unefon, Virgin, Maz Tiempo, and Movistar to their customers.
Businesses on RedCloud’s open commerce platform can now meet the accelerating demand of consumers who want a faster and more personalized way to buy from their favourite stores, while enabling sellers to trade and pay in the new digital economy.
This move is certainly welcome, coming at a time when Central Bank of Mexico (Banxico)* is investing and building infrastructures so that “every Mexican can send and receive electronic payments regardless of their economic background or any other conditions.”
CEO of RedCloud, Justin Floyd said, “RedCloud’s mission is to economically empower the world’s small businesses by seamlessly connecting them to global and local consumer brands and be part of the open commerce revolution. Mexico is a market full of entrepreneurs who need a better way to trade, pay and finance their businesses to meet the accelerating consumer demand. We are delighted to partner with Banorte bank and Monterrey Digital Hub to make commerce universally accessible.”
Recently, RedCloud was selected by the United Kingdom Department of International Trade (UK DIT) as one of the top five British FinTechs in the ScaleUp Bridge program, a joint program between the UK DIT, Grupo Financiero Banorte, and the Monterrey Digital Hub. The ScaleUp Bridge program aims to support five British FinTechs and connect them to Mexico’s digital entrepreneurship ecosystem. Banorte, one of Mexico’s largest banks promotes the program by providing specialised advice and mentoring to the FinTechs to reactivate the economy through innovation and attracting talent.
Eduardo Silva, the Chief Sales Officer at RedCloud, has also stated that, “The Mexican market provides unique opportunities to partner with Mexican manufacturers, distributors and merchants to increase their revenue helping them to sell smarter, buy better and pay simpler. We want to be their partner of choice to make their sales channels work more efficiently, make better decisions with consumer data, and take marketing actions that raise sales velocity.”
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The five FinTechs selected to join the program were those with the highest growth projection in essential areas such as payments and remittances, scoring, fraud and identity management, corporate financial management, and crowdfunding.
RedCloud is committed to bringing global commerce to local markets, empowering local merchants to provide more value and better services to their customers. This expansion into Mexico is in line with RedCloud’s aggressive growth plans.