Strengthening Mexico’s small merchants through digital payments

Grupo Bimbo identified digitization as a key element to help merchants remain competitive against modern retail stories in Mexico.

Grupo Bimbo is one of the world’s largest baking companies with annual revenues of approximately USD 14 billion in 2016. Grupo Bimbo recognized that reliance on cash was restricting small merchants’ ability to compete and grow.

In 2009, Grupo Bimbo partnered with Blue Label Mexico, a leading provider of prepaid airtime, to form the joint venture “Red Qiubo,” working with Visa Inc. (payment network) and Citibanamex (partner bank).