MercadoLibre (MELI) Teams with Oxxo to Expand Financial Access Across Mexico

MercadoLibre, Inc. (NASDAQ:MELI) is one of the Best Non-Mega Cap NASDAQ Stocks to Buy Right Now. Oxxo, Mexico’s largest convenience store chain, has announced a new partnership with MercadoLibre, Inc. (NASDAQ:MELI)’s fintech platform Mercado Pago that will allow users of the digital wallet to withdraw cash directly from any of Oxxo’s more than 22,000 stores across the country. The service, now available, offers a practical solution for customers who prefer or require physical cash, especially in areas where ATM access is limited or traditional banking infrastructure is scarce.

A customer using their phone to access an online commerce platform.

The agreement marks a significant step toward expanding financial access for millions of Mexicans. Oxxo’s widespread presence gives Mercado Pago users a convenient and secure way to access their funds without relying on bank branches. The integration is designed to be seamless, with transactions processed through Oxxo’s existing point-of-sale systems.

Executives from both companies emphasized the broader impact of the collaboration. For Oxxo, the move aligns with its strategy to become a one-stop hub for essential financial services, complementing existing offerings such as bill payments and remittances. For Mercado Pago, the deal strengthens user engagement by adding tangible value to its digital ecosystem.

The initiative comes as part of a broader trend in Latin America, where fintech firms are increasingly partnering with retail networks to bridge gaps in financial inclusion. Analysts say the partnership is likely to drive foot traffic to Oxxo stores while enhancing Mercado Pago’s competitive position in the region’s fast-evolving digital payments landscape.

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Disclosure: None. This article is originally published at Insider Monkey.