Developing Stories

OXXO is the largest convenience store in Mexico, opening a new store every eight hours. In this interview Aiko Fujimura, Manager of Financial Services for OXXO, discusses the company’s move to offer financial services to the underserved and unbanked in Mexico. Alongside selling sodas and bus tickets, Fujimura explains to CGAP Communications Director Jeanette Thomas, OXXO is introducing an e-wallet that will allow them to offer OXXO customers financial services that are much cheaper and more convenient than the current alternatives. Fujimura predicts roll-out of the e-wallet throughout the country within five years, alongside expansion of other financial services such as domestic money transfers, remittances, and a wider range of insurance options. The company is projecting profits from these services of USD 200 million per year within two years. “We can help the society. We are backing financial inclusion in Mexico,” says Fujimura. “But it’s business too.”