Telecompaper - "Mobile application developer Venio announced the launch of its "nano-credit" service for unbanked consumers in Mexico. Venio Aplicaciones de Mexico, the company’s Mexican business arm, has been set up to support Venio’s expansion across the emerging market following a successful debut in the Philippines. The Venio app has now been translated into Spanish and will be available to consumers across Mexico with a strong foothold in Mexico City, Guadalajara and Monterrey.

Venio said the Mexican market is well placed to benefit from its “nano credit” loan facilities due to underlying demographic trends and high mobile penetration alongside the unmet demand for fintech payments in the population, where rates of financial exclusion remain high. The company said a high proportion of the Mexican population remains unbanked, with 63 percent of its 126 million inhabitants currently without access to a bank account."

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