Spin is the combination of two parallel phenomena in Latin American business. On the one hand, this debit card is part of the explosive Fintech universe in the region, where Brazil's Nu is the queen and mistress due to its growth rate, which has led it to surpass giants such as HSBC or BNP Paribas in terms of number of customers in less than ten years.

But Spin is also associated with Oxxo, the convenience store chain of Mexico's Femsa that has expanded aggressively across the Americas and is entering Europe. Spin is part of Femsa Digital, a division that was spun off from Femsa in December 2021 to handle its Fintech business.

What is striking is that Spin's growth rate could break Nu's records. Taking advantage of the more than 20,000 Oxxo stores operating in Mexico and the strength of its brand in the market, Spin is adding users at lightning speed: in just three quarters it surpassed 3 million users, a figure that took Nu 15 quarters.

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