NELO ENABLES BUY NOW PAY LATER FOR ALL ECOMMERCE STORES IN MEXICO

MEXICO CITY, April 20, 2022 /PRNewswire/ -- Nelo, a Buy Now Pay Later (BNPL) product in Mexico, announced that it has launched their all-in-one app. Nelo's customers can now use Nelo at any online merchant, through a partnership with Mastercard. Nelo's app is the first of its kind in the region, where customers can shop and pay in installments at their favorite stores like Mercado Libre, Amazon, and Liverpool. This is enabled through a virtual card that Nelo customers generate at checkout. It is now live for 100% of customers.

"Nelo is delighted to announce the launch of our 'all-in-one' app. A top request from our customers has been more stores, and with this launch we give them access to any online merchant within the Mastercard network. We're the first company in LatAm to offer a mobile app that provides this functionality. Nelo is looking forward to doubling down on offering the best customer experience we can through our mobile products" said Kyle Miller, CEO of Nelo.

In addition to the launch of this product, Nelo is also announcing a recent hire to their leadership team in Alice (Xingwei) Lu as VP of Data Science. "Alice joins us from Uber, where she led the Driver Pricing, Surge, and Incentives data teams. Before Uber, she received her Ph.D. in Operations Management from The Wharton School. Alice's rare combination of data science expertise and leadership experience will be the foundation of a world-class data team" said Kyle Miller.

This launch builds upon Nelo's existing app, which offers financing for top stores like Telcel and Steve Madden. Nelo is a top 15 Shopping app in Mexico and has 90,000 ratings with an average of 4.8 stars.

About Nelo
Founded by former Uber international growth team leads in 2019, Nelo is a Buy Now Pay Later (BNPL) product in Mexico available on Android, iOS, and at checkout for merchants. Consumers can use Nelo to pay for purchases at thousands of stores including Walmart, Mercado Libre, Telcel, Amazon, and more.

About Mastercard (NYSE: MA) 

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

SOURCE Nelo