Magpie, a UK-based provider of white-label smartphone apps, will enter Mexico in August to profit from the country's Internet boom.
To mark its Mexican arrival, Magpie will launch its first financial app, Smart Wallet, in coming weeks, followed by a travel app called Smart Travel in August.
Smart Wallet enables financial institutions to improve their debit and credit-card customer experience, boosting loyalty and turnover, and promises to offer a “plethora of services to simplify customers’ lives.”
The service will offer a coin-sized chip customers can place in their wallet or handbag to monitor their phone’s location and recover it from a certain distance, and enable users to block all cards through the app, in the event of card loss or theft.
Managing Director for Mexico and Latin America markets, Alfonso Flores said white label B-to-B-to-C apps can help boost bank revenues by 10 percent.
Smart Travel will help organize air, hotel, automobile and restaurant reservations in one unique place "so if you have to make a change, you can do it everywhere at once. You won’t have to separately go to United, Hertz or Marriott," Flores explained.
Further down the road, Magpie intends to roll out other apps targeting Mexico’s fast-growing tech-savvy consumers who are driving the Me-Commerce and Internet of Things market. Growth is so brisk that e-commerce sales could nearly double to $11.5 billion by 2018 from $5.9 billion in 2015, according to tech blogger Danilo Black.
Flores said Magpie, which is simultaneously rolling out in China and India, hopes to operate in 10-15 markets in the next few years. The firm does not have any major rivals though he conceded these could soon mushroom up.