MEXICO CITY: Mexican bottler and retailer FEMSA is banking on an expansion of Swiss kiosk operator Valora in upcoming quarters as well as a business-to-business service through its financial technology arm, executives said Monday.
FEMSA entered the European market earlier this month when it bought Swiss kiosk operator Valora, which it plans to expand with new stores and affiliating independent stores in Germany, Chief Corporate Officer Francisco Camacho told analysts. "We do not expect this to be altogether a major strain on the FEMSA funding structure," Camacho said, adding that if necessary FEMSA would fund the expansion from the firm's other operations.Executives said FEMSA would also push a business-to-business service through its financial technology arm, though they did not say how much they would invest into it, nor whether it would operate under the same name as its consumer fintech service, Spin by Oxxo.
With the fintech license, FEMSA"can learn a lot about the use cases" for Spin and whether the service will be worthwhile for the company, Camacho said, adding the company could decide to request a banking license at a later date.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explainer: Why MAS is trialling a digital Singapore dollar and how you can use itSINGAPORE — A new form of digital Singapore dollar which can be programmed and used for specific purposes only will be tested at the Singapore Fintech Festival (SFF) this week. It wants to be the first SE Asian country to implement CBDC. Physical money may soon be defunct in Singapore if it succeeds. Everyone will have to carry around a device for future grocery transactions.
Source: TODAYonline - 🏆 1. / 99 Read more »
Motor racing-Wolff sees Mexico as Mercedes' best chance of winningMEXICO CITY : Sunday's Mexican Grand Prix looks Mercedes' best remaining chance of winning this season, team boss Toto Wolff said after George Russell and Lewis Hamilton qualified second and third.Red Bull's double world champion Max Verstappen will be ahead on pole position with the 25-year-old chasing a There is one “n” to much in that sentence
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Howe plays down Newcastle's 'outrageous' top four pushNEWCASTLE - Eddie Howe insisted it was “outrageous” to label Newcastle as contenders for a top four finish in the Premier League despite their 4-0 rout of Aston Villa on Saturday. Howe’s side climbed to fourth place after Callum Wilson’s brace and goals from...
Source: thenewpaper - 🏆 7. / 63 Read more »
Hong Kong proposes allowing retail trade in cryptocurrenciesHONG KONG: Hong Kong's government has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds - a move it hopes will help it rebuild its fintech hub status. The city, which previously proposed limiting crypto trade to professional investors, has seen planned rules f
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Families seek missing, plan funerals after South Korean Halloween crushSEOUL - In tears, Philomene Aby’s hands shook as she asked workers at a South Korean community centre for any news of her 22-year-old son, missing in the wake of a
Source: thenewpaper - 🏆 7. / 63 Read more »
Will Asean norms, absence of Malaysia's Saifuddin doom Myanmar peace plan?As frustration builds within Asean on the lack of progress in solving Myanmar's political crisis, concerns of an 'internal rupture' and the coming Malaysian election could affect the bloc's ability to pressure the junta at the regional leaders' summit next month, analysts say. When Southeast Asian foreign ministers met last week, they said they were 'even more determined' to push...
Source: asiaonecom - 🏆 10. / 59 Read more »