Brazilian neobank Nubank has unveiled an international credit card for the Mexico market. The card does not charge any annual fee.

The card’s functionalities include virtual card, card lock and unlock by the app, limit adjustment, and invoice payment date selection.

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At the same time, it offers real-time notifications.

Mexicans or foreigners residing in the country and aged more than 18 years can access the card after offering a valid official identification.

Currently, the card has a waiting list of over 30,000 Mexicans.

Nubank has a user base of over 20 million and operations in São Paulo, Mexico City, Buenos Aires, and Berlin.

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Its first product, a credit card without a yearly fee, was introduced in 2014 and has more than 12 million users currently.

The firm also introduced its benefits programme Nubank Rewards along with a digital account. The company’s portfolio also includes a personal loan service.

Nubank is backed by Tencent, Thrive Capital, TCV, Sequoia Capital, Kaszek Ventures, Tiger Global Management, QED, Founders Fund, DST Global, Redpoint Ventures, Ribbit Capital, as well as Dragoneer Investment Group.

So far, the company has secured a total investment of $820m in seven rounds. The infusion was earmarked for use in international growth and strengthening its footprint in Latin America.