Viasat Makes Connectivity in Mexico More Accessible; Introduces Simplified Payment Options at OXXO Convenience Stores Nationwide
Viasat (NASDAQ: VSAT) has launched new payment options for its internet services, now available at 21,000 OXXO convenience stores in Mexico. This initiative addresses the cash-centric economy, allowing consumers and small businesses unable to access traditional banking to pay for services in cash. Since 2019, Viasat has been deploying satellite-based, affordable internet connectivity across the country, promising speeds up to 50 Mbps. The company aims to enhance digital inclusion for previously underserved communities, as highlighted by Kevin Cohen, General Manager of Viasat's Latin American fixed broadband business.
- Introduction of cash payment options at 21,000 OXXO stores enhances accessibility.
- Targets 90% of transactions in Mexico that are cash-based, increasing customer base.
- Viasat's satellite internet service promises speeds up to 50 Mbps in underserved areas.
- None.
MEXICO CITY, Aug. 12, 2021 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it has made accessing Viasat's internet service easier for consumers and businesses across Mexico by offering new simplified payment options—now available at OXXO's 21,000 convenience stores across Mexico.
According to PYMNTS.com 'Global Cash Index™ Americas Edition', cash spending by consumer and small and medium businesses (SMB) make up approximately 90 percent of all transactions in Mexico. With Viasat's new payment options, consumers and businesses who were previously unable to engage in non-cash financial transactions due to lack of credit, access to bank accounts and credit cards, will now have the ability to make cash payments for Viasat's internet service at participating OXXO convenience stores.
Since 2019, Viasat has successfully deployed its fast and reliable internet service across the country, using satellite connectivity to deliver affordable internet service to residential and SMB customers in areas that previously had no access to fiber or cable infrastructure. Viasat's Mexico internet service uses bandwidth from its ViaSat-2 satellite to deliver affordable, high-quality internet connectivity with speeds up to 50 Mbps.
Kevin Cohen, general manager of Viasat's Latin American fixed broadband business added, "We're focused on making access to the internet simple, fast and convenient for everyone across Mexico. By offering a cash payment option we can help create digital and social inclusion for consumers and businesses, even in the hardest-to-reach locations. As a result, people that were previously excluded from participating in the digital economy are now able to access our reliable internet service by simply paying cash at any of OXXO's 21,000 participating convenient stores."
To learn more about Viasat connectivity offerings in Mexico, visit viasat.com.mx/negocios
About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. For 35 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat's Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include statements that refer to the features and benefits of Viasat's simplified payment option. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: our ability to successfully implement our business plan for our broadband services on our anticipated timeline or at all; risks associated with the construction, launch and operation of satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; contractual problems, product defects, manufacturing issues or delays, regulatory issues, and technologies that do not perform according to expectations. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.
Copyright © 2021 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
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SOURCE Viasat, Inc.
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