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English Español Mexico: BBVA Bancomer to finance gas station operators with $630 million fund

BBVA Bancomer bank has signed an agreement with Mexican gas station operator G500 Group to include them in their “retailer package” which provides a MXN 10,000 million ($630 million) fund for retailing operators, and will also allow customers to make cash withdrawals at the stations.



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The “retailers package” signed by  Group G500, which operates over 500 gas stations across Mexico, includes cost coverage, retailing terminals, electronic banking, payments to Petroleros Mexicanos (Pemex), and other services, reported CNN Expansión.

The agreement between both companies comes amid changes in the Mexican petroleum market after the energy reform, said Bancomer in a press release.

“The program will allow the extension of financial services to a large network of gas station operators, including funds for MXN 10,000 million to finance projects in the context of the energy reform, as well as products, electronic banking and insurance,also benefiting fuel customers,” explained BBVA Bancomer.

Consumers will be able to pay with the system “Puntos Bancomer” (Bancomer points), allowing them to gain discounts through their credit cards. They will also have the option to withdraw up to MXN 1,000 in cash atgas station counters after making the payments.

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