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through a lender's mobile banking app or through an pets, financial, luxury and B2B categories, they stated,
instant approval process at checkout. Pre-approved adding that they will reinvest funds raised from sponsors
installments can be used directly on merchant websites or and patrons in marketing campaigns aimed at driving
stored in digital wallets to be used online or in-store. more traffic to the www.hotsale.com.mx site.
Retailers swarm to Mexico's ecommerce bonanza Lawmakers press card brands on interchange

Momentum is building for Hot Sale, Mexico's biggest In a letter to the CEOs of Mastercard and Visa, a bipartisan
ecommerce event, set to return to small screens around group of congressmen and senators accused the two
the world on May 23, 2022. Now in its ninth year, the companies of operating like a duopoly, and they pressed the
nine-day event, hosted by the Mexican Association of card brands to scrap interchange increases slated for this
Online Sales, will offer "breathtaking discounts and month. "As Americans are dealing with the highest rate of
exclusive promotions" from leading retail brands, AMVO inflation in decades, your profits are already high enough,
representatives stated. AMVO, a nonprofit trade association and any further fee increase is simply taking advantage of
established in 2014, works with Mexican and international vulnerable Americans," the lawmakers wrote. The letter
commerce brands, from startups to global enterprises. was signed by Senator Dick Durbin, D-Ill., Senator Roger
"We represent all ecommerce companies in Mexico and Marshall, R-Kan., Representative Peter Welch, D-Vt., and
develop tools to support the growth of these companies, Representative Beth Van Duyne, R-Texas.
working with government to grow the ecosystem and
report on its development and news," the organization The letter prompted the National Retail Federation to
stated on its website while also inviting interested parties fire off a press release praising the lawmakers. "These
to connect and learn more about adjacent opportunities in fees drive up prices for consumers and affect shoppers in
Mexico's "thriving" business community. every congressional district and state in the country," said
Leon Buck, NRF vice president and chief spokesman on
The event will bring together travel, beauty, fashion, interchange. "We stand with lawmakers who are willing
furniture, home goods, automotive, consumer electronics, to take the side of Main Street over Wall Street."