BBVA Spark and APLAZO Expand Financing to $50 Million for Improved Credit Access in Mexico

Expansion in Financing to Enhance Credit Access in Mexico

In a significant development for the financial landscape in Mexico, APLAZO, a leading provider of Buy Now, Pay Later (BNPL) solutions, has expanded its credit line in partnership with BBVA Spark by 40%, bringing the total to an impressive $50 million. This strategic move is set to enhance access to financing options for millions of Mexicans, positioning both APLAZO and BBVA Spark as key players in promoting financial inclusion within the country.

Understanding the Market Need

Over 60 million adults in Mexico face challenges in accessing credit, with more than 70% of all financial transactions occurring through installment plans. This gap in credit access highlights the pressing need for alternative solutions like BNPL, which allows consumers to purchase items immediately and pay over time without requiring a credit card.

According to market projections, the BNPL sector is expected to increase significantly, reaching USD $13.85 billion by 2031. APLAZO’s expansion is not just a business move; it represents a response to a growing demand for accessible credit solutions in a country where many are underserved by traditional banking systems.

Comments from Leadership

Angel Peña, CEO and co-founder of APLAZO, expressed pride in the achievements thus far and confidence that the increased credit line would empower them to reach more individuals with straightforward and transparent solutions. He noted that the growth of the BNPL model has been evident, as it became a preferred payment method for 12% of consumers during Mexico's Buen Fin 2025.

Rodrigo Velasco, Country Manager for Mexico and Head of Latin America at BBVA Spark, shared his enthusiasm for partnering with APLAZO, noting their commitment to fostering financial innovation in Mexico. He emphasized the importance of allowing millions of Mexicans to pay for their purchases at their own pace, viewing this partnership as a way to drive forward financial solutions tailored to modern consumers.

APLAZO’s Role in Credit Inclusion

Founded in 2020, APLAZO specializes in offering flexible payment solutions for both online and physical retail environments. With over 300,000 monthly downloads and relationships with more than 15,000 commercial partners across various sectors—including retail, travel, entertainment, and wellness—APLAZO demonstrates strong market presence. This growth reflects its aim to address the needs of consumers who require accessible credit options.

The BNPL model has gained traction as a crucial payment alternative in Mexico, allowing users to manage their finances better while shopping for everyday necessities. APLAZO stands out as a leader in this burgeoning sector, advocating for responsible financial practices and accessibility.

A Vision for Financial Innovation

BBVA Spark aims to support innovative and high-growth companies, providing a suite of services that cover everything from basic payment solutions to more complex financing options designed for businesses at advanced stages of development. Operating across five geographic areas, BBVA Spark has committed nearly €1 billion to innovative financing, further underscoring its dedication to enhancing the financial landscape.

The partnership between BBVA Spark and APLAZO is a clear indication of a commitment to social impact, with a focus on empowering the unbanked population of Mexico. By doing so, they not only expand access to necessary goods and services but also help these individuals establish a digital credit history.

Conclusion

Together, APLAZO and BBVA Spark are setting a precedent for credit access in Mexico, enabling consumers to take charge of their financial futures. With ongoing support from initiatives like these, the potential for financial inclusion and consumer empowerment in Mexico is brighter than ever.