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Beyond the Transaction: Every Transaction Has a Story

Why Startup Mexico is Pushing Entrepreneurs to Embrace Cashless

Mario Romero is in charge of the partnerships and social impact at Startup Mexico, a startup accelerator in Mexico. Here Mario shares his Cashless Pioneers story with MasterCard and how electronic payments have become a key component of Startup Mexico.

Being an entrepreneur these days isn’t easy. Entrepreneurs have to invest large amounts of time and effort in their businesses, become experts on many different topics and take a lot of risks. All of this considering the difficulties that come with starting your own business.

In the case of Mexico, over the past few years the push to promote an entrepreneurial culture has intensified with accelerators like Startup Mexico stepping up to the plate to help entrepreneurs succeed in their ventures.

We launched Startup Mexico in order to promote the adoption of new technologies among startups. Our company has a large campus in Mexico City that works with recently established high-impact businesses, and provides seed funds, corporate implants and services for entrepreneurs to create a new type of ecosystem that encourages collaboration, innovation and a more competitive Mexico.

Helping entrepreneurs to incorporate electronic payments into their daily operations is key to keeping up with established competition, which is why we decided to partner with MasterCard in order to ensure all our startups are set up to accept e-payments. From e-commerce acceptance solutions to mobile points-of-sale (MPOS), our startups can receive payments without the hassle of carrying cash and asking an employee or accountant to “close the day” for them.

Another benefit of electronic payments is access to new market segments without the need of having a physical store. Thanks to e-commerce, our startups are able to join the global marketplace and make their products and services available to customers with just one click.

I absolutely recommend all startups, whether they are in Mexico or not, to incorporate the acceptance of e-payments into their daily operations.