Rappi to discontinue RappiCuenta offering in Mexico next month
Latin American tech firm Rappi has announced that its virtual savings account offering, RappiCuenta, will cease operating in Mexico from 11 February.
Rappi to cease RappiCuenta services in Mexico
As per a report by Contxto, RappiCuenta customers in Mexico received an email from the firm regarding its discontinuation in the country last month, with users being asked to withdraw all funds before the closing date.
The email to customers in Mexico reads (translated from Spanish): “We inform you that the RappiCuenta product will permanently stop operating in Mexico on February 11, 2024. This allows us to focus our efforts on innovating and offering better products.”
While RappiCuenta is being discontinued in Mexico, its credit card service RappiCard will remain operational in the country. Additionally, Contxto reports there are no current plans to discontinue RappiCuenta in other countries.
In a reply to a user on X at the end of December, RappiCard Mexico writes (translated from Spanish): “We have decided to focus our efforts and resources on strengthening RappiCard and its value proposition. That is why we decided to close RappiCuenta. Your RappiCard will not have any changes, it remains as solid as ever and you will be able to continue enjoying its benefits.”
Founded in 2015 by Simón Borrero, Sebastian Mejía and Felipe Villamarin as a food delivery app, Rappi has since evolved into a super-app offering a range of services including savings accounts and credit cards.
The company claims to have a presence in nine countries in Latin America and Spain, serving over 30 million monthly active users.
