Visa has teamed up with Blue Label Mexico to expand mobile payment terminals and acceptance of electronic payments in small retail locations across the country.

Blue Label Mexico is a joint venture between baking company Grupo Bimbo and Blue Label Telecoms, a prepaid airtime provider.

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The partnership will allow acceptance of debit and credit card payments at additional retail locations across Mexico.

According to Visa, around 700,000 small merchants in Mexico carry Grupo Bimbo merchandise, which requires a large distribution network for the daily delivery of baked goods.

This network, combined with the Bimbo brand, provides Grupo Bimbo, Visa and Blue Label with an opportunity to expand the acceptance of electronic payments to small merchants in Mexico.

The new terminals installed for Mexican merchants will allow small retailers to accept Visa and non-Visa card payments while also offering airtime top-up and bill payment services.

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Grupo Bimbo strategic services vice president and Blue Label Mexico CEO, Hortensia Contreras, said: "Grupo Bimbo is proud to provide our merchant partners with the latest payment technologies, ensuring they can continue to offer consumers everyday conveniences, from selling fresh groceries to accepting payment cards, prepaid products and services such as wireless airtime top-up."

Visa and Planet Payment, a provider of international payment processing services, had collaborated to build a processing platform that enables merchants in Mexico to accept, process and reconcile card payments.