Grupo Bimbo joins the Better Than Cash Alliance to help small businesses in Mexico boost profits
July 7, 2015
Through Red Qiubo, Grupo Bimbo provides small businesses with the necessary technology to accept digital payments in their operations.
Mexico City, July 7, 2015 – Grupo Bimbo, the world’s largest baking company, through its digital transaction platform Red Qiubo, announces its membership with the Better Than Cash Alliance, to strengthen its commitment to further develop small businesses like “mom and pop” stores in Mexico, a segment that has a significant and positive impact on the country’s economy. Integrating digital payments into these small businesses is expected to help the sector earn greater profits and stabilize jobs.
The UN-hosted Better Than Cash Alliance is a partnership of governments, companies, and international organizations that accelerates the transition from cash to digital payments in order to drive inclusive growth and reduce poverty by increasing efficiency, transparency and financial inclusion.
According to the World Bank Group, 2 billion people globally lack access to formal financial services[i]. The use of electronic systems allows small business owners in the country to meet their business goals, by letting them accept electronic payments with credit cards, debit cards and food vouchers in a fast, easy, transparent and safe manner.
This way, they are able to increase their flow of customers, offering them efficiency and security in their electronic operations, and increase revenue through the sale of value-added digital services. Today in Mexico, the use of these technological tools facilitates more than half a million of monthly transactions of credit cards, debit cards and food vouchers, increasing the average ticket in the ‘mom and pop’ sector. It also benefits over 5 million users of electronic food vouchers, allowing them to use these payments at small businesses.
“The country’s business structure has been transformed in the last few years. By joining the Better Than Cash Alliance, we reinforce our commitment with the traditional ‘mom and pop’ sector, providing them with a key differentiator that allows them to remain an option for clients and consumers,” Hortensia Contreras concluded.
View the Spanish Press Release.
About Grupo Bimbo
2015: Our 70th anniversary. Grupo Bimbo nourishing, delighting and serving our world. Grupo Bimbo is the leading baking company in the world. It has more than 128,000 associates and in 2014 generated US$14.064 million in sales. It has 167 production plants and nearly 1,700 sales centers located strategically in 22 countries over the world, throughout 3 continents. It produces over 10 thousand products under more than 100 household brands in categories as sliced bread, buns and toast. It also has an extensive distribution network in Mexico and one of the largest of the American continent. Grupo Bimbo’s shares have traded on the Mexican Stock Exchange since 1980 under the ticker symbol BIMBO. Grupo Bimbo reaffirms its commitment to the environment by bringing their environmental sustainability programs to all the countries where it operates.
For more information on Red Qiubo, visit: www.redqiubo.com
About the Better Than Cash Alliance
The Better Than Cash Alliance is a partnership of governments, companies, and international organizations that accelerates the transition from cash to digital payments in order to drive inclusive growth and help people lift themselves out of poverty. The Bill & Melinda Gates Foundation, Citi, Ford Foundation, MasterCard, Omidyar Network, USAID and Visa Inc. are funders and the U.N. Capital Development Fund serves as the secretariat.
Mónica Bretón Grupo Bimbo + 52-55-5268-6585 firstname.lastname@example.org
Angela Corbalan Better Than Cash Alliance (+1) 917-224-9109 email@example.com
(i) THE GLOBAL FINDEX DATABASE 2014: Measuring Financial Inclusion around the World http://www.worldbank.org/en/programs/globalfindex