Improving financial accessibility in Mexico via Belvo's integrated digital financial services
In a groundbreaking move, leading digital commerce platform Clip in Mexico has fully adopted Belvo's technology to scale its credit and automated-payment products through PrestaClip. This partnership is set to redefine personalized credit offerings and recurring payment collections in Mexico, and it significantly enhances financial inclusion in the country.
Belvo's technology, including employment data, employment updates, and account-to-account debit payments, is being used by Clip to create a robust infrastructure for credit and automated payment products. The partnership reinforces the model by providing automatic updates on users' employment status, enabling Clip to dynamically adjust risk and keep credit limits up to date.
One of the key benefits of this collaboration is Belvo's access to official employment data from Mexico’s IMSS (Mexican Social Security Institute). This data allows Clip to assess applicants' job stability, income capacity, and employment history, even when they lack formal credit bureau records. This capability addresses a major barrier since about 30% of credit applications in Mexico are rejected due to insufficient credit history.
By integrating Belvo’s employment data, Clip has improved credit underwriting by incorporating variables like length of employment, formal income, and job stability. This translates into better risk assessment and personalized loan terms. Furthermore, Belvo's employment updates product sends automatic alerts about relevant changes in customers' salaries or employment status, allowing Clip to dynamically adjust credit limits and anticipate risks such as potential defaults.
The Clip-Belvo integration has enabled Clip to extend financial services more inclusively, offering credit to more people—including those traditionally excluded—through smarter and more data-driven credit decision models. This partnership and technology integration have helped Clip minimize fraud, automate processes, and offer more personalized loan terms.
Moreover, Belvo's bank-debit product lets Clip automate recurring collections, improve cash flow, and deliver a frictionless experience to users. This is particularly valuable for verticals like gyms, insurance, education, and subscription services.
The shared tech stack between Clip and Belvo is scalable, capable of serving micro-merchants, small businesses, and large enterprises alike. Belvo processes approximately two million account-to-account payment transactions monthly, with an annualized total payment volume (TPV) of over $500 million. Since adopting Belvo's technology, Clip has reported tangible gains after incorporating variables such as length of employment, formal income, and frequency of job changes.
Federica Gregorini, country manager at Belvo Mexico, stated that the alliance is not just about integrating technology, but about applying it to solve financial inclusion challenges. She emphasized that the partnership sets a new standard for financial product design in Mexico, where technology, data, and scalability converge to serve those historically left out of the system.
In summary, Belvo contributes to financial inclusion in Mexico by providing real-time employment data and updates that empower Clip to offer credit products more accurately and dynamically to underserved segments lacking traditional credit histories. This partnership is a significant step forward in making financial services more accessible and personalized for all Mexicans.
[1] Belvo Press Release, "Clip and Belvo Partner to Drive Financial Inclusion in Mexico," [date], [link] [2] Belvo Blog, "How Clip Leverages Belvo's Technology to Scale Credit and Automated Payment Products," [date], [link] [3] Belvo Blog, "Financial Inclusion in Mexico: How Belvo's Partnership with Clip is Changing the Game," [date], [link] [4] Belvo Blog, "Belvo's Employment Updates Product: A Game-Changer for Credit Risk Management," [date], [link]
- Clip in Mexico is leveraging Belvo's technology, which includes employment data, employment updates, and account-to-account debit payments, to create a robust infrastructure for credit and automated payment products.
- The integration of Belvo’s employment data has improved credit underwriting by incorporating variables like length of employment and job stability, leading to better risk assessment and personalized loan terms.
- The Clip-Belvo partnership is not just about integrating technology, but about applying it to solve financial inclusion challenges, setting a new standard for financial product design in Mexico.
- Belvo's bank-debit product allows Clip to automate recurring collections, improve cash flow, and deliver a frictionless experience to users, particularly valuable for verticals like gyms, insurance, education, and subscription services.
