Business

Nubank partners with Amazon Mexico to offer interest-free payments

"Amazon Mexico is only the first on the list, more is to come," the fintech revealed

Nubank launches credit card in Mexico
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  • In June, Nubank reached 25 million customers;
  • The fintech is now enabling monthly payments without interest, allowing Mexican users to advance payments and obtain discounts for purchases on Amazon.

The Brazilian fintech Nubank announced on Monday that is partnering with Amazon Mexico, one of the biggest e-commerce firms in the country, to offer monthly payments without interest with the Nu credit card on sales at the website.

“For Nu, offering MSI (meses sin intereses) just for offering them is not the way we believe we can help people; that is why we went further and created a different experience together with our clients, designed to really respond to their needs,” said Emilio González, General Director of Nu in Mexico, in a company blog post.

Through its Nu credit card, Nubank is offering the alternative of monthly payments without interest, allowing Mexican users to advance payments and obtain discounts for it.

“Our Months Without Interest program allows you to advance monthly payments so that you can have your line of credit again, as soon as you want,” says Nubank. “If you have decided to advance monthly payments or settle your debt, we have a reward for you. By managing your advance monthly payments or increasing the payment amount from your app, a percentage of the total or the remaining monthly payments of your debt will automatically be discounted.”

In June, Nubank hit 25 million customers on its seventh anniversary and has consolidated itself as the largest independent digital bank in the world, according to Fintech Ranking. The bank has added 10m users in the eight months since October 2019, when it announced it had reached a 15m-user milestone.

“For now we are working so that soon you can enjoy this feature with many more stores. Amazon Mexico is only the first on the list, more is to come,” the fintech revealed.