Spin Partnership

Félix and Spin by OXXO Bridge Chat and Retail: Digital Remittances with Mexico’s Largest Physical Network

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Spin by OXXO, the FEMSA business unit evolving the financial solutions ecosystem, has announced a strategic partnership with Félix, the pioneering platform for sending digital remittances via WhatsApp. This collaboration redefines how funds from abroad are received in Mexico by combining digital immediacy with the physical accessibility of the OXXO network.

The partnership directly impacts the economy of millions of Mexicans: it is estimated that 4.9 million households receive funds from abroad, a pillar that the fintech and Spin by OXXO seek to strengthen.

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Digital simplicity, immediate availability

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The integration is designed to maximize the end-user experience and convenience, eliminating long wait times and fees for the recipient:

• Simplified WhatsApp Flow: The Spin by OXXO customer in Mexico simply generates a link from their app and shares it via WhatsApp with the sender in the United States. The family member in the U.S. enters the amount and confirms the transaction with Félix. Credit in Seconds: Funds are transferred instantly to the Spin by OXXO account in Mexican pesos. The service applies a flat fee of $2.99 USD only for the sender, with no cost to the recipient. Street-Level Access: Beneficiaries can use the funds immediately from the app (for payments or transfers) or withdraw cash at any of the more than 23,000 OXXO stores in the country, offering a solution that reaches even communities with limited banking infrastructure.

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"Félix's focus on user experience and automation aligns with Spin by OXXO's commitment to offering innovative and accessible solutions. Digital receipt of funds from abroad provides multiple benefits... even contributing directly to financial inclusion," commented Ricardo Olmos, Director of Spin by OXXO.

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Strategic positioning in the remittance market

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This agreement is fundamental to the growth and digitization of remittances in Mexico, a market that reached $63 billion in inflows in 2023 and is projected to continue growing.

The integration of Félix with the Spin by OXXO platform responds to the trend where nearly 60% of recipients in Mexico already use digital apps to receive funds. By combining Félix's pioneering sending method with FEMSA's largest withdrawal network, the partnership removes the final barrier to the full adoption of digital remittances: the need to access cash.

"At Félix, we believe that financial inclusion begins with simplicity and trust. This partnership with Spin by OXXO allows us to bring our WhatsApp remittance technology to millions of Mexican families, making it more accessible, faster, and more secure," stated Claudia Garavini, VP of Strategy & Biz Dev at Félix.

The collaboration secures transactions with verification and data protection mechanisms, ensuring that this convenient experience also meets the highest standards of security and trust for users.

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