Contxto – Mexican fintech Oyster shelled out its latest product last Monday (4). In partnership with Mastercard, this new debit card was made for small and medium sized enterprises (SMEs) as well as freelancers.
Correspondingly, this card is different from others that are consumer-oriented. And that’s because it offers business owners and gig workers discounts at over 10,000 locations in Mexico.
All these are vendors relevant to SMEs and independent workers’ business affairs. Examples include catering services to offer customers a meal or reduced prices for booking a trip.
Oyster Mastercard combo
According to a press release, this card is free of charge. And there’s no need to head to a bank or another physical location as it’s possible to unlock the digital debit card online.
Meanwhile, its physical counterpart is contactless. Quite right for a world that’s increasingly filled with germaphobes.
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Gabriel Leon and Vilash Poovala founded Oyster in 2018. These founders were well-aware of the shunning most entrepreneurs face when visiting a bank and wanting products that can help their business.
So it appears that one bank’s loss is another fintech’s gain, again.
On that note, with its slick design and style, Oyster‘s target market are millennials that love tech but have no patience with banks.
If you don’t hate your bank and its corresponding, clunky app and poor customer service by now, I don’t know where you live, but it might not be in Latam.
Related articles: Tech and startups from Mexico!
-ML
