Overview
- FEMSA is folding its fintech Spin into an OXXO‑centered “Ecosistema 2.0,” pausing its banking‑license bid and confirming staff cuts as part of a wider reorganization.
- CEO José Antonio Fernández Garza‑Lagüera said layoffs at Spin followed the tighter OXXO integration and did not give a headcount, while Bloomberg and Reuters reported broader reductions at FEMSA and hundreds of roles affected in the fintech unit.
- Leadership is being consolidated with Rodrigo García Jacques now running Spin and reporting to OXXO México head Carlos Arroyo, with responsibility for the digital ecosystem’s profit and customer metrics.
- Spin ended 2025 with about 16.1 million users and 10.5 million active users, monthly transactions near 98 million, and a nearly 30% cut to operating losses, with the company guiding for further improvement in 2026.
- FEMSA aims to use OXXO’s more than 25,500 stores to anchor deposits, withdrawals, bill pay, transfers, QR payments, and loyalty, a path it argues is cheaper and faster than building a bank in a crowded market.