Grupo Coppel, which operates the largest department store chain in Mexico and the sixth largest banking network in the country, today announced the expansion of its financial services to the United States with the launch of Coppel Access, a multifunctional financial application.
The Coppel Access mobile wallet app was designed with the Mexican community in mind and allows all consumers in the U.S. to easily open and manage an account, insured by the Federal Deposit Insurance Corporation (FDIC), using a Mexican or U.S. ID. Once opened, consumers can use the digital or physical debit card in the mobile wallet to open the possibilities of shopping online and on digital platforms, avoiding the risk of carrying cash or keeping large sums of money at home. The Coppel Access mobile wallet can also be used to make transfers between friends and family in the United States.
The added convenience of Coppel Access is that it allows users to send money to family members in Mexico directly from their phone, saving them the time and money of making frequent trips to money transfer locations. "By offering FDIC-insured accounts for sending international remittances, the Coppel Access app continues Grupo Coppel's 80-year-old mission of improving the lives of its customers," said Adrian Jaimes, CEO of Appriza Pay, a U.S.-based affiliate of the Coppel Group.
Families in Mexico can take advantage of receiving remittances at BanCoppel's more than 1,250 branches or directly into their BanCoppel account. "For a decade, Mexicans living in the United States have relied on Coppel to pay their remittances. Today, they can rely on Coppel for all their financial needs in the United States," said Carlos Lopez Moctezuma, Director of Financial Services for Grupo Coppel.
As digital payments become the norm, the unbanked and underbanked community can leverage Coppel Access for modern money management tools that provide time savings, ease, convenience, safety, and control. The Coppel Access app was created to facilitate financial management, to overcome the challenges consumers face with conventional financial institutions, and to advance financial inclusion.
