Mexico has a highly unbanked population who faces several challenges such as high-usage & reliance on cash for payments and high fees for cross border transfers (Mexican Citizens residing in the US and Canada sending support to families back in Mexico). An estimated 42 million consumers are unable to access classic banking solutions.
BlocPal has created a custom digital wallet enabling payments for airtime, utilities, and financial services, including pre-paid debit / credit cards, P2P transfers, cross border payments (ex. US –Mexico), insurance and micro-loans. We have developed a merchant retail network to engage directly with local consumers.
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 without having to pay high fees.
Grupo Movil Mexico is excited about integrating BlocPal's platform with its new venture, Tortooga, whose goal is to provide GMM's customers with a digital suite of financial and payment services. BlocPal's solution is a big step forward in this process