Alviere Signs Grupo Coppel to Launch Embedded Finance Mobile Wallet

On January 24, 2023, embedded finance platform Alviere announced that Grupo Coppel, Mexico's largest non-food retailer, had signed on as its latest global enterprise client. Through the partnership, Coppel plans to launch 'Coppel Access,' a mobile wallet targeting unbanked and underbanked consumers in the United States. The wallet will provide a suite of digital financial services including bank accounts, debit cards, multiple payment options, global money transfers, and cryptocurrency services, all powered by Alviere's embedded finance infrastructure.

Alviere contributes its BaaS technology stack, enabling Coppel to embed financial products directly into its consumer ecosystem without building banking infrastructure from scratch. For consumers, this means access to essential financial services through a trusted retail brand. Financial terms of the deal were not disclosed.

The partnership underscores the trend of large non-financial enterprises leveraging embedded finance to deepen customer relationships and reach underserved populations.