Who We Are
E-Bits connects humans together through a single transaction People in the US can refill airtime for family and loved ones in Mexico anytime, instantly.
Mexico is a country with a population of 115 Million. The country has high mobile penetration with 95 million mobile connections in Mexico in Q4 2011. That’s 83% of the population!
There are 4 main mobile operators in Mexico:
Telcel has 67 million subscribers as of 1st quarter of 2012, representing 70% of Mexico’s mobile market.
Movistar accounts for 19 million lines, representing 20% of total lines.
Nextel maintains a 4% share of the number of lines, with a total of 3.8 million lines.
lusacell, in turn, has had significant growth in its number of lines, reaching 5.4 million during the first quarter, corresponding to a market share of 5.7%.
These 4 Mexican Mobile Operators now offer US individuals an option to recharge these mobile phones in Mexico from various points of sale in the United States.
The industry refers to this method as “CrossBorder Top-Up”. The Mexican Operators work with existing Payment Platforms in the US who provide Domestic and International Top-Ups to local distribution channels.
The purchases of Top-Ups are done primarily through walking into a merchant location and having a store clerk run the transaction.
Thanks to the strong economic performance of many of those countries—Mexico in particular—and very positive consumer spending trends, everyone is looking south.
To say that Latin American markets are catching the attentions of the US payments industry is an understatement!
CrossBorder has been available for years, but the volume from the US traffic has not been overly impressive compared only to the remittance market valued at $1.87 billion in July 2012. Due to many challenges, the increase in volume to Mexico has been slow but there are recent signs of major improvement.
Some of challenges have been the Mexican-Americans themselves adapting to the product. For years, the culture of sending money is only through Money Transfer companies. For calling family in Mexico, people use Long Distance Cards, which are supported, heavily by the Merchant locations due to commission they receive on the cards.
With the recent increase of Disturber commissions for Mexican CrossBorder, the merchants are now seeing better benefit for offering and promoting it to walk-in customers. Also the addition of the product on more Processing Platforms has increased the awareness of the product throughout the US. Still there is a very weak presence online to market to Mexican Americans here in the US. E-Bits will change that.