MEXICO CITY, July 7, 2015 /PRNewswire/ -- 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.
With a presence in over 2,000 municipalities across Mexico, Red Qiubo is a digital
transaction platform developed by Grupo Bimbo, which simplifies
modernization in traditional "mom and pop" stores. Red Qiubo
provides small business owners with tailored technology tools that
allow them to increase productivity in their everyday operations.
Through this platform, small businesses across the country can
accept electronic payments using credit cards, debit cards and food
vouchers, as well as offer bill payments and purchases of mobile
phone minutes.
"The 'mom and pop' sector is an important partner which has
historically accompanied our growth in the country. Today, there
are more than 700,000 small stores that need access to advanced
technology to obtain certain advantages against their competitors,"
said Hortensia Contreras, Vice
President of Electronic Services for Grupo Bimbo.
By joining Better Than Cash Alliance, Grupo Bimbo commits to
continue supporting the digitization of payments to the traditional
distribution channels of "mom and pop" stores through Red
Qiubo. It will also join a community of knowledge-sharing and
peer-learning to further understand the costs and realize the
benefits of shifting to digital payments. By enabling the use of
digital payments in small businesses, the company helps improve
operational efficiency while also expanding access to financial
services for consumers in "mom and pop" stores.
"We recognize Grupo Bimbo's leadership in Mexico to drive the use of digital payments in
the retail sector," said Dr. Ruth
Goodwin-Groen, Managing Director of the Better Than Cash
Alliance. "By making digital payment services more widely available
in small businesses, Grupo Bimbo is advancing the shared goals of
Alliance members to increase efficiency and inclusive growth. We
look forward to supporting the company's efforts to enable digital
payments throughout its network of retailers and sharing its good
practices with other Alliance members."
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
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.
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 such 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 about Grupo Bimbo or Red Qiubo,
visit: www.grupobimbo.com or 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. To learn more, visit
www.betterthancash.org, follow @BetterThan_Cash
and subscribe for news.
[i] THE GLOBAL FINDEX DATABASE 2014: Measuring Financial
Inclusion around the World
http://www.worldbank.org/en/programs/globalfindex
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SOURCE Better Than Cash Alliance