150,000 in 36 months
US$50 Million in 36 months
"Grupo Movil Mexico is excited about integrating BlocPal's platform with it's new venture, Tortooga, whose goal is to provide GMM's customers a digital suite of financial and payment services. BlocPal's solution is a big step forward in this process"
Guillermo Hernandez Rojas CEO of Grupo Movil Mexico
The majority of the Mexican population uses cash to transact, as only 37% of Mexico’s population uses a bank account for their financial needs. However, 80% of Mexico’s population owns a smartphone and has access to the internet. This equates to an estimated 80 million adults and provides an enormous opportunity to bring financial power to everyone in Mexico. Grupo Movil Mexico (GMM), have a strong position in the "Payment Processing Solutions" market as the second largest airtime and bill payments company in Mexico with over 50 million customers and over 40,000 retail outlets. Most of their clientele use the retail outlets to top-up their airtime and to pay their bills. Creating "Tortooga Pay" as a digital solution provides easier and more convenient payment options and creates an opportunity to integrate third party applications, giving everyone access to financial technologies.
Prior to partnering with BlocPal, the Grupo Movil Mexico (GMM) platform was entirely supported by physical retail outlets providing customers with the ability to top-up airtime, pay bills, purchase gift cards, and cash in / out. Powered by BlocPal’s white label digital solution, the Tortooga Pay App, created a bridge that brings the services from the retail outlets and adds more to the palm of the customer’s hand. The Tortooga Pay Wallet allows for the deposit and withdrawal of fiat currencies, debit & credit card access, money transfers, airtime top-ups, utility payments, gift cards, and other banking and reward systems.
Grupo Movil Mexico (GMM) has partnered with BlocPal to build Tortooga, a true digital payments and banking services arm for retailers and consumers. Tortooga has successfully reached a key milestone of 10,000 new and active retailers through the Tortooga POS retailer app (www.tortooga.com.mx), offering payments for airtime, utilities, and gift card purchases. The Tortooga Pay consumer mobile app (www.tortoogapay.com) offers these same payment services directly to consumers inside Mexico and their family and friends outside of Mexico. BlocPal and Tortooga are now working on releasing the Tortooga Pay prepaid Mastercard to make readily available to all users. This Mastercard solution will help financially empower the population in rural and semi-urban areas in Mexico which is mostly unbanked. The Tortooga Pay Mastercard is an essential feature for consumer acquisition and retention programs leveraging both the retailer network and online marketing campaigns.
"The partnership with Grupo Movil Mexico’s to serve their customers is a perfect fit with BlocPal’s vision to help bring financial power to everyone while building out support for the digital currency community. We couldn’t have asked for a better partner or opportunity to showcase our technology.”