Cuenta Nu announces cash deposit network in partnership with Arcus by Mastercard

• In the coming weeks, customers of Cuenta Nu, in partnership with Arcus by Mastercard, will be able to deposit their cash through a network of more than 700 Soriana stores across the country. Nu will progressively expand this network.
• Like all Nu product features, this functionality will undergo a phased rollout, beginning in the next few days with a test phase with a small group of customers.
• Nu Mexico and Mastercard strengthen their alliance to offer solutions and services that enable fast, secure, and convenient transactions that drive financial inclusion in the country.

Mexico City, March 12, 2024 – Nu Mexico, a company offering clear, human, and transparent digital finance, announces the evolution of Cuenta Nu. In the coming weeks, Cuenta Nu customers will be able to deposit cash at any Soriana store checkouts affiliated with the Arcus by Mastercard network.

This feature, like all Nu product features, will follow a phased rollout beginning with a small group of customers who will help perfect the product before it is proactively offered to all users.

Deposits at Soriana can be up to $5,000 pesos per transaction and users won’t have to present physical cards or know their number, enhancing data security. To make a deposit, customers generate a unique code from the Nu app, which the store cashier uses for depositing to the corresponding Cuenta Nu. A barcode is also generated that can be scanned directly from the app. In this initial stage, in accordance with official provisions, Nu, in collaboration with Arcus by Mastercard, will progressively expand the network for making cash deposits to Cuenta Nu.

Iván Canales, General Manager of Nu Mexico, comments, “More and more, Mexicans are moving away from cash in favor of financial solutions that provide greater ease, security, and practicality, like Cuenta Nu. We have worked in collaboration with our partner Arcus by Mastercard to offer the possibility of depositing cash at more than 700 Soriana establishments across the country. We continue to work to expand the number of establishments where we can offer this option to our customers in the near future.”

Rodrigo Benet, Administration and Finance Director of Soriana Organization, commented, “We are proud to create synergy with impactful sector companies like Nu Mexico and Arcus by Mastercard. This alliance seeks to not only offer our customers a safe alternative for depositing cash but to widen the access to financial services for people throughout Mexico.”

The solution brought to the national market by Nu and Arcus by Mastercard will allow consumers to familiarize themselves and have increasing access to digital financial products tailored to their needs, contributing to driving an inclusive and adaptable financial ecosystem.

“With the reliable network of Arcus by Mastercard, today we have the capability to offer the option of incorporating the use of cash into the digital payments ecosystem,” says Christopher Luna, CEO of Arcus by Mastercard.

Iván Canales concludes, “We have seen an incredible reception of Cuenta Nu. Even though we continue to develop and improve Cuenta Nu’s features and our growing product portfolio based on the feedback from our purple community, we are working to adapt more and more to the needs of people in Mexico.”