The CEO of Todito, Ricardo Dávila Mondragón, told Expansión in an interview that the main segment it serves is that of young people who are looking for their first financial productalthough it also has other types of clients already banked.
“I operate a program with Tik Tok, a referral program, if these young people monetize some money, the only place where they can use that money or monetize it is a deposit or a Todito cash account. We give you a Visa debit card that you can use all over the world,” Dávila said.
The alliance with one of the favorite social networks of generation Z consists of that if they invite their friends to use the platform, TikTok gives them money and those resources in turn are deposited in the wallet. Users who want to withdraw that money must download Todito cash and from there decide whether to use it at the businesses with which they have an alliance or withdraw it in cash.
Todito also offers customers the use of QR codes to carry out operations, so they are confident that they will be able to help in the long-awaited financial inclusion.
The objective of the firm is to grow exponentially by 2025 with 15 million users and the plan is to do so hand in hand with a “strategic partner” and thus support the country’s financial inclusion.
“Our value offer is to convert that cash that circulates in Mexico today to a digital issue, we earn money by monetization. The use of our product has zero commissions and we earn by using that money with commercial chains,” he explained.
Payroll payment for SMEs
The plan is for the money that people earn or monetize on TikTok to be spent within Todito’s more than 26,000 business partners, including airlines, video games, supermarkets and convenience stores.
Dávila announced that together with TikTok they have plans for a new product with video games.
The other business in which Todito operates is payroll payments for SMEs. “We are attending to the SMEs that approach the bank to request the service and, if they have less than 15 employees, they cannot give them the product. We are attending to that market niche, where they continue to pay with the yellow envelope and we we are digitizing.
Regarding the investment plans to grow, Dávila said that 100 million dollars will be allocated to marketing by 2025.
