New Cash Deposit Network Launched in Mexico through Partnership with Arcus

Nu Mexico, in partnership with Mastercard, has announced a new cash deposit network for Mexico through its Nu account. The service will be tested by a select group of customers before a wider launch in the near future.

This staggered approach to the launch is intended to ensure that users have a seamless and efficient experience when depositing cash. The collaboration between Nu Mexico and Mastercard is focused on providing fast, secure, and convenient transactions that promote financial inclusion.

The deposit process has been designed with ease and security in mind. Customers will be able to deposit up to ,000 MXN per transaction without the need for a physical card. Instead, they can simply generate a unique code within the Nu app. This new feature complements Nu’s existing offerings, such as receiving money transfers from the U.S. and integration with Dimo, by offering a tangible way to add cash to accounts. This will enable transactions and daily interest earnings for users.

Nu, in partnership with Arcus by Mastercard, has plans to expand this service to more locations in the future. This expansion will support Nu’s overall goal of increasing financial access and encouraging a transition towards digital payments.