Press Release

Banorte and Rappi present RappiCard, the credit card of their strategic alliance

Bnamericas Published: Monday, November 23, 2020

This Banorte and Rappi release was published using machine translation.

Mexico City, November 23, 2020.- As part of their strategic alliance to set up a new company, Grupo Financiero Banorte (GFNorte) and Rappi presented today the new RappiCard credit card, which offers a value proposition innovative in the national market.

The Rappi-Banorte alliance invites all those interested in the RappiCard credit card to register on the waiting list through the following link: . Those users who have signed up to the waiting list and are approved will receive a limited edition card in the first month of release. By inviting friends to join, you can advance places and thus reduce the waiting time to apply for the card, which will be officially launched in early 2021.

RappiCard combines the best in financial services and electronic commerce; In addition to not charging an annuity, it offers great rewards, for example:

  1. Cashback: 3% for purchases at Rappi, 2% for online purchases and 1% for purchases with the physical card.
  2. Discounts: Up to 50% discount and 18 months without interest in participating establishments.
  3. Immediate: The digital card is issued in seconds and the physical can be delivered in minutes or hours in Rappi coverage areas.
  4. Maximum security: The physical card has the highest security standards, including the absence of numbers engraved on the plastic. In addition, for greater protection in online purchases, the digital card lives in the secure environment of the Rappi application, protected by password or, where appropriate, facial recognition or fingerprint.
  5. Attention 24/7: via chat in the application.
  6. Experience: Real-time transactions, with a map where the user can identify their purchases. The customer experience will be constantly improved through tools that will be added to help the user manage their money.

Carlos Hank González, Chairman of the Board of Directors of Grupo Financiero Banorte, commented: “Banking must now focus on personalization and digital services. Our alliance with Rappi allows us to transform the experience of Mexicans in the digital financial ecosystem, combining the best of two worlds: the strength and expertise of Banorte and the digital DNA of Rappi. "

Once the waiting period on the list has concluded, users will be able to process the new card directly in the Rappi application and, upon approval, receive their digital card immediately. The physical card would arrive at the user's home in a matter of minutes, like any Rappi request. Outside of Rappi coverage, the physical card will take up to 4 days to arrive.

The new product marks the beginning of the alliance between GFNorte and Rappi, through which a broad digital financial ecosystem will be formed, which will coexist with Rappi's digital mobility and e-commerce services.

With this new credit card we are taking our first step in this alliance that seeks to bring the best financial services to all of Mexico. We are already testing with select Rappi users and have opened the waiting list. Those who register at will be the first to apply ”, mentioned Juan Miguel Guerra, Head of Rappi Financial Mexico.

This operation is aligned with GFNorte's digital and technological strategy, with which the institution seeks to gain presence and penetration in the digital financial services sector, which has allowed it, for example, to reach 279 million transactions in its mobile application by 3Q20, a growth of 264% in the last 2 years.

Editor's note:

Enrollment on the waiting list does not guarantee obtaining the card.

About Rappi

Rappi is the App that makes your life easier, by fulfilling from a whim from the store, pharmacy, doing all your weekly groceries, ordering food from your favorite restaurants, doing yourself an urgent favor or taking cash. It is a Latin American company that has a presence in more than 100 cities and 9 Latin American countries, including Mexico City, Guadalajara, Monterrey, Querétaro, Bogotá, Buenos Aires and Sao Paulo, among many others. Rappi was founded in 2015 by Simón Borrero, Sebastián Mejía and Felipe Villamarín. In Mexico, it began operating the same year and today it has millions of active users per month and thousands of daily orders in Latin America. Likewise, Rappi has helped more than 37 thousand Rappitenderos in Mexico to be their own bosses, reaffirming their mission to really change people's lives.

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About Grupo Financiero Banorte

Grupo Financiero Banorte (GFNORTE) is a leading financial institution in Mexico, which has the greatest diversification of businesses in the market. GFNorte provides services to more than 21 million clients through an extensive network that includes more than 1,100 branches, more than 9,000 ATMs, more than 13,000 correspondents and more than 166,000 point of sale terminals.

The main activity of our subsidiaries is the performance of financial operations, such as the provision of banking services, brokerage house, fund operator, leasing and factoring, warehousing and portfolio manager. We offer insurance and pension services, as well as the management of retirement savings contributions. We also operate the international money transfer company Uniteller, which primarily serves the remittance market.

Facebook: Grupo Financiero Banorte

Twitter: @GFBanorte_mx

LinkedIn: Grupo Financiero Banorte

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