Spin by Oxxo

What Spin by Oxxo does

Spin by OXXO is a Mexican digital financial services platform operated by Compropago, S.A. de C.V., Institución de Fondos de Pago Electrónico, a regulated electronic payment institution authorized under Mexico's 2018 Fintech Law and listed with CONDUSEF and RECA. It is a wholly-owned subsidiary of FEMSA (NYSE: FMX), leveraging the OXXO convenience store chain of more than 23,000 locations as its physical distribution layer. The platform combines a digital wallet with a Visa-branded debit card, QR-code payments, bill payments, mobile airtime recharge, domestic and cross-border money transfers, a Metrobús CDMX transit payment integration, and the Spin Premia loyalty program, all accessed through a mobile app available on iOS, Android, and Huawei AppGallery.

The core technology stack is mobile-first and built on top of Visa card infrastructure with QR-based payments and in-app digital token authentication for transaction verification. The platform serves primarily unbanked and underbanked Mexican consumers, remittance recipients from the United States, and Mexico City public-transit users who can tap their Spin card on Metrobús turnstiles. Onboarding is self-serve through the app with OXXO as the physical touchpoint for card pickup ($50 MXN fee), cash deposits, and withdrawals, while the La Uni financial-education platform supports top-of-funnel acquisition and engagement.

Monetization is transaction-based across five revenue streams: Visa interchange on card purchases, commissions on cash deposit/withdrawal at OXXO, fees on bill-payment and airtime processing, revenue share on KIRA-enabled US-to-Mexico remittances, and affiliate commissions on gift cards and top-ups. The 9.9 million active users as of December 2025 generate a long-tail, diversified revenue base with no single enterprise concentration, and the wallet increasingly functions as a funnel into FEMSA's OXXO retail ecosystem via Spin Premia and assisted in-store services.

Name

Spin by Oxxo

Legal name

Compropago, S.A. de C.V., Institución de Fondos de Pago Electrónico

Website

https://spinbyoxxo.com.mx

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Spin by OXXO is a regulated Mexican digital wallet and Visa debit card issued by Compropago, a FEMSA subsidiary, serving unbanked consumers and remittance recipients through a mobile app backed by 23,000+ OXXO convenience stores for cash deposits, withdrawals, and card pickup.

Ownership category

akta.pro rank

Product category

Mobile Banking

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

QR Code Payments Wallets (FSAMAEAC)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF), Cross-Border & FX Payments Platforms (BPAMAFAK), QR Code & Alternative In-Store Acceptance (QR, APMs) (FSAMADAH)

Keywords

• Digital wallet services
• Mobile payments
• Debit card issuance
• Remittance services
• Financial inclusion

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Infrastructure, Marketing or Sales, Personnel

Revenue model

1. Card Transaction Interchange: Spin earns interchange fees from Visa on every card transaction made by users at merchants worldwide. As an electronic payment institution, each purchase generates small transaction revenue.
2. Cash Deposit and Withdrawal Commissions: Commissions charged for cash deposits and withdrawals at OXXO convenience stores. Fees apply to ATM withdrawals and over-the-counter cash transactions at partner OXXO locations.
3. Service Payment Processing: Revenue from processing bill payments (utilities, cable, internet, airtime) through the Spin app. Transaction fees per payment service rendered.
4. Remittance Receiving: Fees or revenue share from cross-border money transfer partnerships enabling US-to-Mexico remittances to be received in Spin accounts.
5. Airtime and Prepaid Card Sales: Commission from selling mobile airtime top-ups and gift cards for various platforms and merchants through the Spin app.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Spin by OXXO provides a mobile-first digital financial services platform offering a digital account (Cuenta Digital) paired with a Visa debit card. Users can conduct QR code payments, person-to-person transfers, bill payments, airtime recharge, domestic money transfers, and US-to-Mexico remittance receiving through the app. The account is fully integrated with FEMSA's 23,000+ OXXO convenience store network, enabling cash deposits, withdrawals, and physical card pickup across Mexico.

Product overview

Spin by OXXO is a digital financial services platform operated by Compropago, S.A. de C.V., an Electronic Payment Fund Institution (Institución de Fondos de Pago Electrónico) regulated under Mexico's 2018 Fintech Law. The core offering consists of a digital account (Cuenta Digital) paired with a Visa debit card (Tarjeta Spin by OXXO Visa) that serves as the primary financial instrument. The platform provides comprehensive digital banking services including money transfers, bill payments, airtime recharge, QR code payments, and cash withdrawals at OXXO stores. The Spin Premia loyalty program rewards users for purchases at OXXO and partner brands, while La Uni offers financial education content. A Metrobús contactless payment integration enables transit fare payments. The platform serves 9.9 million active users and processes cross-border remittances through partnerships with fintech companies like Kira.

Differentiator

Problem solved

Functional benefit

Brands

• La Uni Spin by OXXO: A free digital financial education platform featuring gamified learning content about personal finance, entrepreneurship, and money management for the Mexican market.
• Spin Premia

Products and services

• Cuenta Digital Spin by OXXO Digital account that enables individual Mexican consumers to send and receive funds, pay bills, recharge mobile airtime, withdraw cash at OXXO stores, and manage personal finances through the Spin by OXXO mobile app.
• Tarjeta Spin by OXXO Visa Visa-branded physical debit card linked to the Spin digital account, accepted at all merchants worldwide that accept Visa, supporting contactless NFC payments including Metrobús transit fares and online purchases. Sold for a $50 MXN one-time issuance fee at OXXO stores.
• Spin Premia Loyalty rewards program (rebranded from OXXO Premia) that awards points automatically when paying with the Spin by OXXO card at OXXO stores and partner brands. Points are redeemable at OXXO, OXXO GAS, and Doña Tota stores.
• La Uni Spin by OXXO Free digital financial education platform offering gamified learning content, courses, and interactive missions about personal finance, entrepreneurship, and money management for the Mexican market.

Quantifiable outcome

• Funds reach Spin accounts in minutes through US-to-Mexico remittance partnership
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• KIRAcoreTechnology or Integration · 22 December 2025Strategic partnership between KIRA (fintech company) and Spin by OXXO to improve remittance receiving infrastructure in Mexico. KIRA provides technology while Spin offers its 9.9 million active users and extensive OXXO retail network. The collaboration enables US-to-Mexico money transfers with funds reaching Spin accounts in minutes, simplifying the remittance experience for Mexican families without passing regulatory complexity to end users.
• VisacoreTechnology or IntegrationVisa partnership enables Spin by OXXO to issue Visa-branded debit cards accepted at all merchants worldwide. The card supports contactless payments, online transactions, and ATM withdrawals. Visa Secure technology protects against fraud, and the partnership enables global payment acceptance that would be impossible with a proprietary payment network.
• Cadena Comercial OXXOcoreStrategic or Co-development PartnerParent company FEMSA operates OXXO convenience stores that serve as the physical infrastructure for Spin by OXXO. OXXO stores enable cash deposits, withdrawals, account opening assistance, and card pickup across 23,000+ locations. The partnership integrates digital financial services with physical retail presence, creating an unmatched distribution advantage.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mercado Pago: Largest digital wallet and payments platform in Latin America, dominant in Mexico with QR payments, P2P transfers, and merchant acquiring. Directly competes with Spin by OXXO for unbanked Mexican consumers' wallet share.
• Nu México (Nubank): Digital-first bank in Mexico offering debit accounts, credit cards, and P2P transfers to a similar mass-market customer. Competes head-to-head with Spin's unbanked/underbanked value proposition with a more capital-light, app-only model.
• Clip: Mexican payments fintech providing QR and card acceptance to SMBs plus consumer-facing wallet features. Closely comparable on QR payments and Mexican market focus, though skewed toward merchant acceptance.
• Remitly: US-to-Mexico remittance specialist with strong digital receiving flows. Comparable on the remittance corridor Spin targets through KIRA, particularly on cross-border settlement and fee competition.

Broad incumbents

• BBVA México: One of Mexico's largest incumbent banks with a deep retail branch network, broad digital banking app, and growing digital wallet features. Represents the legacy alternative Spin targets away from.
• Banco Azteca: Mexican bank serving unbanked and underbanked consumers via Elektra store network — closest large-bank parallel to Spin's OXXO-distributed model. Comparable customer base and physical-to-digital bridging strategy.

Emerging players

• Albo: Mexican digital consumer fintech offering multi-currency accounts, debit cards, and P2P transfers. Comparable on the digital wallet/multi-currency dimension Spin is exploring with its remittance push.
• Klar: Mexican neobank offering deposit accounts, debit cards, and credit products to mass-market users. Comparable target customer and product overlap, though Klar is more credit-led than Spin.
• DiDi Pay / DiDi Card: DiDi's Mexican financial services arm offering digital wallet, debit card, and credit features bundled with its ride-hailing super-app. Overlaps with Spin's unbanked user base and benefits from an existing consumer ecosystem.

Regional players

• BanCoppel: Mexican bank distributed through Coppel department stores, serving a similar unbanked/underbanked retail-adjacent base as Spin via OXXO. Closest distribution-model analog outside of FEMSA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Spin_by_OXXO
• Facebookfacebook.com/SpinbyOXXO
• Instagraminstagram.com/spin_by_oxxo
• LinkedInlinkedin.com/company/spin-by-oxxo

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spin by Oxxo