A popular payment method that splits up the total amount due to monthly payments, allowing customers to make higher prices purchases.
What is OXXO?
With the aim of facilitating payments in the country, OXXO is a voucher payment widely used by Mexicans to pay for their utility bills and online purchases.
Around 71 million Mexicans do not own a bank account, and OXXO allows merchants to tap into this substantial group of online buyers. With more than 16,000 stores across the country, consumers can pay for their online purchases in cash, and merchants have a zero chance of chargeback.
How OXXO payment works?
Step 1: The customer selects OXXO as the payment method in checkout.
Step 2: The voucher containing a barcode is generated for the customer to either print.
Step 3: The customer pays the OXXO in cash in over 16k locations.
Step 4: Payment confirmation in one business day.
How Mexicans pay online?
Only 39% of the Mexican population is banked and for cultural reasons, Mexicans are used to paying with vouchers for their purchases, even if they do have a bank account, debit card, or credit card. This habit repeats itself in online shopping, leading customers to look for e-commerces that offer voucher payment methods.