- Farmacias del Ahorro Fintech: With the acquisition of the IFPE Tu Dinero Digital (TUDI), the chain will launch Cuenta Monedero in January 2025, allowing deposits, transfers, payments, and withdrawals through its digital platform.
- A pioneer in its sector: It is the first pharmacy chain in Mexico to integrate financial technology, following a trend set by companies like Walmart, Oxxo, and Mercado Pago in the fintech ecosystem.
Farmacias del Ahorro, the renowned pharmacy chain with over 1,600 branches in Mexico, is ready to enter the fintech world. After acquiring the Electronic Payment Funds Institution (IFPE) called Tu Dinero Digital (TUDI), the company announced that it will transform its loyalty system into an innovative financial product called Cuenta Monedero, which will be operational starting in January 2025.
Farmacias del Ahorro fintech: A new venture
In 2023, Farmacias del Ahorro began the process of acquiring TUDI, an IFPE authorized under the Fintech Law on April 28, 2021. This license allows entities to issue, manage, and transfer electronic payment funds. Currently, Mexico has 84 institutions regulated under this law, 56 of which are IFPEs.
With this acquisition, Farmacias del Ahorro plans to enhance its Monedero del Ahorro program by adding features such as deposits, transfers, utility payments, and cash withdrawals, all managed through an intuitive digital platform. This move aims to integrate financial services into its offering and strengthen customer loyalty by providing greater convenience and exclusive rewards.
Movements in the Fintech Ecosystem
Although the IFPE model has faced certain challenges, Farmacias del Ahorro’s entry into the fintech sector is a significant event. Its decision to acquire TUDI not only marks its debut in the financial ecosystem but also positions the company as a pioneer, being the first pharmacy chain in Mexico to adopt financial technology.
Farmacias del Ahorro’s case follows a growing trend in the country, where non-financial companies such as Walmart, Oxxo, and Elektra have obtained IFPE licenses to integrate digital solutions into their business models. For example, Walmart acquired Trafalgar Digital to enhance its digital wallet Cashi, while companies like Mercado Pago and Uber continue to expand their financial services.
Cuenta Monedero: A solution that connects health and technology
The launch of Cuenta Monedero reflects a strategy that combines financial services with the health sector. The initiative, backed by the National Banking and Securities Commission (CNBV), will not only strengthen Farmacias del Ahorro’s offering but also expand financial inclusion opportunities for thousands of Mexicans.
