BBVA Mexico Partners with Conekta for Pago Directo
BBVA Mexico, in collaboration with Conekta, has introduced a new digital payment alternative for online purchases called Pago Directo.
How Pago Directo Works
Pago Directo allows customers to authorize transactions directly from the BBVA app when shopping on associated digital platforms, such as e-commerce stores or marketplaces. The process is seamless: select Pago Directo during checkout, review the transaction details in the BBVA app, and confirm to complete the payment instantly without sharing credit card information.
Benefits of Pago Directo
BBVA highlighted that Pago Directo integrates payments into non-bank digital platforms, providing a smooth and uninterrupted experience that addresses key challenges in digital commerce, including secure transactions, immediate liquidity, increased recurrence, better acceptance rates, and automatic reconciliation.
For users, the experience is frictionless. After preparing to pay on a merchant’s platform, select Pago Directo as the payment method, and you’ll be directed to the BBVA app to complete the transaction without sharing your card details.
Pago Directo is ideal for eCommerce, marketplaces, recurring billing and payments, as well as service, contribution, or donation charges. These can be processed by over 30 million BBVA customers in Mexico.
Projected Expansion by 2026
During a trial phase, Pago Directo facilitated 26,000 transactions worth 25.3 million pesos, reaching 24,000 users with an average transaction value of nearly 1,000 pesos. The solution has been integrated by 389 businesses connected to Conekta.
However, BBVA anticipates significant expansion by 2026, surpassing two million monthly transactions and targeting an increasing percentage of the nearly 30 million digital customers at BBVA Mexico.
The bank also expects more companies to join this simplified ecosystem, aiming to offer practical and secure experiences for their clients and users.
BBVA Mexico’s Digital Payment Offerings
Alejandro Cárdenas, General Director of BBVA Mexico’s Business Banking and Institutional Clients, mentioned that over 80,000 business clients currently use BBVA’s digital channels, completing 70 million transactions per month.
Pago Directo from BBVA Mexico and Conekta provides a competitive advantage for companies looking to accelerate electronic commerce transactions, backed by Mexico’s robust financial infrastructure and customer base.
Additional Digital Payment Options
BBVA already offers various digital payment alternatives to both individual and business clients, including CoDi (QR codes) and DiMo (using a mobile phone number), driven by Mexico’s central bank (Banxico).
BBVA also provides options for merchants, such as touch-free charges using mobile phones as contactless card terminals, mobile point-of-sale solutions for card payments, and payment links.
The goal is to further promote digital economy growth in Mexico, where cash remains prevalent.
Key Questions and Answers
- What is Pago Directo? Pago Directo is a new digital payment option launched by BBVA Mexico in partnership with Conekta, allowing customers to authorize online transactions directly from the BBVA app.
- How does Pago Directo benefit users? Users experience a seamless, frictionless payment process without sharing credit card information. It addresses key challenges in digital commerce, including secure transactions and immediate liquidity.
- What are BBVA Mexico’s digital payment offerings? BBVA offers various digital payment options, including CoDi (QR codes), DiMo (mobile phone number), touch-free charges using mobile phones as contactless card terminals, mobile point-of-sale solutions, and payment links.
- What is the projected expansion of Pago Directo? BBVA expects Pago Directo to surpass two million monthly transactions by 2026, targeting an increasing percentage of its nearly 30 million digital customers.
- What is the significance of BBVA Mexico’s digital payment initiatives? These initiatives aim to promote digital economy growth in Mexico, where cash remains prevalent, and provide a competitive advantage for businesses accelerating electronic commerce transactions.
