TLDR:
Amazon has partnered with Mexican fintech company Kueski to bring flexible payment options to customers in Mexico. The collaboration will allow Amazon customers to use Kueski’s bi-weekly installment payment service, which does not require a credit card. Kueski will handle the financing and credit assessments for each user. This initiative aims to provide access to affordable payment methods for customers in Mexico.
Amazon is collaborating with Mexican fintech company Kueski to offer flexible payment options to customers in Mexico. The partnership will introduce bi-weekly installment payments for Amazon purchases in Latin America’s second-largest economy. The key feature of this product is that it does not require a credit card.
Kueski will handle the financing and credit assessments for each user. Amazon customers who choose to use Kueski Pay for their purchase will be able to select plans of up to 12 bi-weekly installments. This initiative aims to provide access to affordable payment methods for customers in Mexico who may not have had access to financing options before.
“It’s an exciting milestone, given Amazon is such a significant merchant in the context of Mexico,” said Andrew Seiz, the head of finance at Kueski. “With this agreement, people who may not have been able to access financing before will be able to purchase products on Amazon.”
In a statement, Karen Pepper, Head of Digital Payments for Amazon Mexico, said, “Customers are increasingly looking for flexible payment options to help them meet their purchasing needs. Paying in bi-weekly installments with Kueski Pay is Amazon’s latest initiative to provide customers in Mexico with access to affordable payment methods.”
This collaboration comes as Amazon terminated its merger pact with IRobot Corporation. Amazon was set to invest in iRobot’s continued innovation and support the company in lowering prices on products for customers. As part of the termination, Amazon will pay iRobot a $94 million termination fee.
