Four out of five Latin Americans use cash as their main form of payment. This represents one of the biggest challenges for the financial services industry in the region. 

With the aim of accelerating the adoption of digital payments, YoFio was founded in Mexico in 2018. The payment platform gives users the ability to use credit to purchase grocery items at well-known local corner stores—far and away the most popular shopping sites for families in Latin America. 

Fast-forward to 2021 and YoFio is one of the fastest-growing fintechs in the LATAM region. With more than 15,000 customers across 400 points of sale, the platform has carried out over 50,000 transactions since launch. So where did this growth come from?


In its infant stages, YoFio was simply an idea. A brilliant concept that addressed a market in need, but without a multidisciplined team to bring it to life. 

PALO IT joined the project to accompany the YoFio team in the production and launch of their first MVP, all under the objective of validating two key hypotheses: the easiest means to use credit is through mobile, and the most convenient venue to use credit is at a local corner store.

yofio, latam mobile app, mobile app, mobile development, app development


The PALO IT team worked with YoFio to launch two go-to-market applications in less than 45 days. 

An end-user app, including:   

  • Registration, credit request and identity validation
  • A 'scan & Go’ QR code for in-store purchases
  • Transaction history query
  • Payment history

And a commerce app, incorporating:  

  • Registration and identity validation
  • End-consumer sales transactions
  • Credit payment
  • Transaction and deposit history
"I have worked with PALO IT on several projects with incredible outcomes. They have great capacity in Design Thinking, UX/UI design and software development, so the decision was fairly easy. Today, thanks to this collaboration, we are one of the fastest-growing fintechs in LATAM".

Alberto Bonetti

CEO & Co-founder of YoFio

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