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BBVA México

“Can Mexico's largest bank turn its balance sheet, license and 26M+ app users into an open-API embedded finance platform for the country's fintechs and enterprises?”

Founded1932
HQMexico City, Mexico
IndustryBank / National
The story

Founded 1932 as Bancomer, nationalized in 1982, re-privatized in 1991, and consolidated as Mexico's largest bank after the 2000 merger with BBVA-Probursa and the acquisition of Promex. Became a BBVA subsidiary in 2002 and rebranded to BBVA México in 2019. Over the past decade has pushed into digital banking, embedded finance and open APIs — including the 2016 Openpay acquisition (PSP), the BBVA API Market for embedded accounts / cards / auto insurance / payments, and Pago Directo BBVA as an account-to-account online payment method leveraging its 26M+ app customer base.

Last 12 months
2026-07
2026-01
Product timeline
1932
Bancomer founded in Mexico City as Banco de Comercio· founding
1982
Bank nationalized by the Mexican government· pivot
1991
Grupo Financiero Bancomer formed following privatization of banking· pivot
1995
Launched Bancomer Transfer Services (BTS) remittance business· pivot
2000
BBVA capitalizes Bancomer with $1.4B; merger forms Grupo Financiero BBVA Bancomer; acquires Promex· acquisition
2002
Becomes a subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA)· acquisition
2016
Acquired Openpay, a Mexican payments PSP for e-commerce· acquisition
2019
Rebranded from BBVA Bancomer to BBVA México· pivot
Acquisitions
Openpay2016
Mexican payments PSP (cards, cash, bank transfers, fraud tooling) for large corporates and SMEs, integrated into BBVA's digital acquiring stack
Promex2000
Mexican bank with strong central/western regional presence; consolidated BBVA Bancomer as Mexico's largest financial institution
Regulated entities
1
regulatory licence held by BBVA México
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
11 layers disclosed in BBVA México’s embedded-finance stack
Payments / PSP
BBVA México Acquiring (self-operated)Openpay (self-operated)Pasarela de Pago BBVA (self-operated)Pago Directo BBVA (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Payroll
in the full report
Insurance
in the full report
Open banking
in the full report
Unified APIs
in the full report
FX & payouts
in the full report
Investing
in the full report
Accounting gap: significant
27 more providers across 10 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.